Trustee services, creation of trusts and foundations for asset protection and confidentiality
A trust can be an outstanding tool for effective asset management. In particular, it can be used to secure effective ownership anonymity, asset disposal and settlement of inheritance in the manner specified by the settlor in a trust deed. The concept of trust originates from common law and has been practiced for centuries. The process of creating a trust consists of the transfer of assets to the trust by the settlor, who thus ceases to be the legal owner of the assets. This factor is decisive since any future claims made by creditors, courts, banks, etc. cannot be further settled from such assets.
As a licensed trustee, PROTTECO offers the service of setting up and administering trusts in Cyprus as well as in the Czech Republic, where the possibility
to set up a trust was only recently (2014) introduced into domestic legislation.
Similar to trusts, foundations can prove a useful alternative, especially when securing asset protection for clients in civil law countries, where problems with the recognition of a trust concept may arise. In contrast to trusts, foundations are entities with a legal personality. As such, they can be registered
as shareholders of international companies.
A foundation’s sophisticated internal structure can secure the anonymity of beneficial ownership of companies who vest their shares into such
a foundation. For this purpose, PROTTECO offers foundations registered in Anguilla.