What is an Offshore Foundation

While many offshore jurisdictions have certain laws regarding the establishment, maintenance and disbursements of offshore foundations, the only consistent rule is that the beneficiary or beneficiaries of your foundation are not citizens or residents of the jurisdiction you have chosen for your foundation. That way, the assets of your foundation can remain free from all taxation for its entire duration.

The process of setting up a foundation in an offshore jurisdiction is quite simple, and depending on the country can take as little as 72 hours. First, you need to choose what kind of foundation you will be setting up - Corporate Foundation, Private Foundation, Charity Foundation or Special Purpose Foundation. Not all types are available in all jurisdictions, so you’ll need to check first.

Then, a Foundation Charter is written, processed and approved. This names the individuals and/or corporations involved in the foundation, as well as any other rules, stipulations, restrictions or details the founder wishes to impart to the administrator(s).

Offshore foundations can be set up by individuals, families, companies and corporations or all sizes. If you are interested in establishing an offshore foundation for your assets, please do not hesitate to contact us today. We not only assist you in the creation and management of your foundation, but we also can advise you on your best options and make informed recommendations.