Create a Trust

Motivation

The raid on Cyprus’ depositors in March 2013 precipitated our trustee service to the public.

Historical capital levies of the world

There are recorded capital levies by the ancient Greeks ranging from 1% to 4%.
There is no recorded (read “legal”) capital levy before Word War I.

DateCountryType of assetRate
1919GermanyReal estatefrom 10% to 65%
1920ItalyReal estatefrom 4.50% to 50%
1920CzechoslovakiaReal estatefrom 3% to 40%
1921HungaryReal estatefrom 5% to 20%
1946JapanReal estatefrom 10% to 90%
1990BrazilFinancial (bank deposits)100% from US$1,250
1992ItalyFinancial (bank deposits)0.6%
2001ArgentinaFinancial (deposits in foreign currencies)100%
2008ArgentinaFinancial (pensions)100%
2009IrelandFinancial (funded public pension fund)25%
2010IrelandFinancial (funded public pension fund)12%
2010HungaryFinancial (private pensions)100% (nationalization)1
2013CyprusFinancial (bank deposits)100% over 100,000 EUR, affecting 2 banks

Overview of legal bank guarantees

EntityDeposit guaranteeForeign currency covered
EU2100,000 EUR (or equivalent for non-Eurozone countries)No
Isle of Man100% of the first £30,000, 90% of the next £20,000 with a MAXIMUM Compensation of £48,000.3Yes
Channel Islands (Jersey and Guernsey)£50,000 per person, per banking groups4Yes
USA5US$250,000No
PalauUS$250,000 (from FDIC USA)No
MicronesiaUS$250,000 (from FDIC USA)No
Marshall IslandsUS$250,000 (from FDIC USA)No
JapanJPY 10,000,000No
ThailandTHB 1,000,000No
MalaysiaMYR 250,000Yes
TaiwanTWD$3,000,000Yes
Hong KongHKD 500,000Yes

Trend of public confidence in the US

Our solution: a trust

Although the legal bank guarantees provide some kind of safety net, they are unfunded in case of a systemic crisis6.
The trust is a wonderful invention that gives a legal structure for:

  • fast set-up: usually in 2 business days
  • flexibility: you can make up any possible rules of management, settlement, investment, events, etc…

Which jurisdiction?

The choice of the jurisdiction will be done by the Trustee(s) which we provide.

Our fees

See the Fees page.

Type of trusts offered

We do NOT offer land or real estate trusts. However the land can be held by a company whose shares will be held by the trust.
All of our trusts can be revocable or irrevocable.
Period of the trust: from 2 years minimum to perpetuity.

  • Beneficiary trust
  • Purpose trust, such as:
    • Charitable
    • Political
    • The erection and maintenance of tombs and monuments

Type of investments covered

  • Any major currencies (no cash)
  • Irish bonds
  • Gold (physical or not)
  • Unit trusts/Mutual funds
  • Shares of companies
  • Digital assets (domain names, websites, etc)

Extra feature at no cost

We can create a trust funded by Paypal accounts without the Paypal transfer fees, but this is only available for US dollar denominated funding.

Next step

Contact us to discuss your trust requirements.

Notes

  1. https://blogs.wsj.com/emergingeurope/2010/11/24/hungary-forces-private-pension-fund-members-back-to-state-scheme/
  2. Including Gibraltar, and all French Overseas possessions
  3. https://www.iomfsa.im/consumer-material/isle-of-man-depositors-compensation-scheme-dcs/
  4. https://www.gov.je/Industry/Finance/DepositProtection/Pages/Overview.aspx
  5. Including Overseas possessions: American Samoa, US Virgin Islands, Mariana Islands (Guam, Saipan)
  6. see Iceland, 2008
Sidebar