Isle of Man.
General | |
Legal Framework | English Common Law |
Official Language | English |
Official Currency | Manx Pounds |
Confidentiality | Yes |
Rule Against Perpetuities | Yes |
Creditor Concerns | |
Permit Confiscation of Property | No |
Protection from Forced Heirship | Yes |
Enforcement of Foreign Judgment | No |
Recognize Trust Protector | Yes |
Economic/Political | |
Business Infrastructure | Excellent |
Economic Stability | Excellent |
Exchange Controls | None |
Political Stability | Excellent |
Taxes | |
Taxes | None |
Tax Treaties | Yes |
Prospects for Future Taxation | None |
Approximate Costs | |
Formation Fee | |
Acceptance Fee | |
Trustee Fee/Annual Admin. | |
Creditor Protection Trust (CPT) | |
Voidable by Creditors (Statute of Elizabeth) | No |
Revocable | No |
Absolute Discretion in Trustee Over Assets and Distributions | Yes |
Loss of Beneficial Interest When Levied Upon by Creditors | Yes |
Statute of Limitations during which Creditors can bring suit | 10 Years |
Approximate CPT Costs | |
Formation Fee | |
Acceptance Fee | |
Trustee Fee/Annual Admin. |
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