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For many years it has been well known by business professionals and other “fat cats” that a Trust is the first step to form when asset protection and anonymity is the goal to seek.

An Offshore Trust isn’t difficult to setup, what you need is simply a few documents and a Specimen Letter which need you prior attention. Trusts have been used by even Royals, Presidents and other high society ranked people all the time, now it is possible for any small and medium sized business or creative entrepreneurs to register a Trust in Cyprus.

The major benefits of offshore Trusts in Cyprus are:

100% Anonymity
The highest level of privacy protection
Full asset and equity protection
Income gains and profits are exempted from income tax, capital gains tax, special contributions and any other taxes in Cyprus.

The aim to register an Offshore Trust is to protect yourself and your family in regards to assets, equity and other investment during the lifetime of the offshore Trust which is typically 99 Years. The high level of protection ensure that no creditors of any kind can access any equity or assets  belonging the offshore trust.

A offshore trust in Cyprus can with great benefit register an offshore company for instant in Cyprus, Belize, BVI or Seychelles, once the offshore company starts making profits the net income can freely be transferred to the trust and from there be used for investments of any kind.

Many have a company structure like the following; an Offshore Trust which registers a Holding Company and the Holding Company is registering one or more offshore companies where the business is conducted.

CCLOGIC LLC has specialized in the Offshore Company Formation, Offshore Trust registration and entire offshore company structures with the goal to seek 100% anonymity, low tax and 100% asset protection for their clients. With the large network of offshore banks we work with we are able to open offshore bank accounts for your Offshore Company or Offshore Trust in Cyprus.

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The question has been asked by many people and companies who seek anonymity and a way to pay and receive money securely.

Browsing the Internet you will find many websites which pretend to give you guides on “how to get it” others tell you they have a good solution but no track record or proof that they really deliver what they promise. You will find a handful Offshore Agencies which will look reliable and have a wealth of products and services to offer but they require you to visit their place and will charge a fortune for a product which isn’t that expansive.

What you will need to consider is where your offshore bank account should be established, many places like Cyprus, Seychelles, Cayman Islands, The Netherlands Antilles, Bahamas and Uruguay are offshore havens which have a strict banking secrecy and who are able to open real offshore bank accounts.

Now you have some options and suggestions, however, to call up the banks will not help you since they will require you to visit them since they need to comply to KYc (Know your Customers), no you will need someone which already has established a relationship with the banks in the offshore havens, someone which can introduce your business case to them.

Many people believe that to become a offshore bank account and a offshore debit card is difficult and unreliable because they don’t know where to start. I have made it easier for them, visiting this blog and this article already brought you half the way.

The second most important thing to consider once you figured out where you want your offshore bank account to be, is who should go and help you, who is capable to introduce you to a Bank in an TAX Haven / jurisdiction and have earned the trust by the banks to really get your account approved. Surfing the Internet is a good start, however you will get that many hits that you won’t have a clue on who is able to help you and who just will take your money and run.

Important for you is to look at a certain website how it looks, what feeling you have with what they state they do and if they look reliable, if so, go and take their domain name and enter it into Google, find out what others have to say about the company or who they are linked with, if you find 1 to no comments on the company that could be fine but also a sign, then look at how good are they linked, how many websites are linking to them, many links from important websites can be a good sign, do they offer new clients to interact with them on a forum, ticket system, live chat or even a blog, if so, it’s good since fly by night companies would not put a lot of effort into such, often you will see 1 large page of advertising pitches and down the site a payment button, I can just say, stay far away from that. Others have built a good looking website but it has less to no functionality at all, stay away from such sites.

Once you have found your service agency you can ask him to help you to become the offshore bank account opened and to have a debit card for that account.

Look into what you get for the buck, some offshore banks only offer a bank account in one currency and no way to connect by any Internet Banking to the account, to withdraw money you will need to make a phone or fax order. That’s defiantly not a solution you want.

What you want is to look at a complete solution which offers you a multi currency offshore bank account with Online E-Banking facilities and a Visa or Maestro Debit card to withdraw money. You want to be able to have access to your offshore bank account 24/7/365 and make your banking business when it is convenience for you.

The well established banks also in Tax Havens will be able to offer you a quality banking platform to access your bank account, they will offer you multi currency facilities for several different major currency like USD, EURO, GBP and SF, you will have the account separated when you login through your e-banking access, and you will be able to make local and foreign bank transfers.

Hope you enjoyed this post and please feel free to contact CCLOGIC LLC if you consider to open an offshore bank account or offshore company in Cyprus.

For webmasters we offer a great opportunity to participate in our CCLOGIC Affiliate Program, visit our website for more information.

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In the offshore company formation world and in all type of company formation regardless if it is a local company or a company formation in another country you will sooner or later ran into the possibility to have a trust to manage your company.

A trust can be a good instrument for forming offshore companies if you wont move to the country where you register your offshore company or if you don’t want to travel at least 2 or 3 times a year to manage the offshore company.

So what is a trust?
A trust is an important, useful and legitimate vehicle for the transfer and management of assets. Trusts provide an effective mechanism for managing assets given minors, individuals who are incapacitated, and others who are otherwise inexperienced in financial management.

Trusts can also be used to promote charitable purposes and for estate planning. In addition to personal and financial planning, trusts are increasingly used to structure corporate transactions, such as securitization programs, and employee benefits programs, such as pension schemes, international employee stock option plans, and compensation structures.

To create a valid trust, the settler is required to give up control of the assets he has transferred to the trustee. In turn, the trustee is obligated to observe the terms of the trust deed and has fiduciary duty to act honestly and in good faith in the best interest of the beneficiaries or, in the event there are no named beneficiaries, in the best interest of the trust. Traditionally, trusts are subject to limitations on duration, the terms of the trust are fixed, and trustees cannot be removed without a legal challenge. Lastly, the traditional trust could only benefit individuals or charities and could not be used to delay, hinder, or defraud creditors.

As with other types of corporate vehicles, however, trusts can also be misused for illicit purposes. Part of the attractiveness of misusing trusts lies in the fact that trusts enjoy a greater degree of privacy and autonomy than other corporate vehicles. Given the private nature of trusts and the fact that a trust is essentially a contractual agreement between two private persons, virtually all jurisdictions recognizing trusts have purposely chosen not to regulate trusts like other corporate vehicles, such as corporations.
Above are just a few example of usage and misusage of trusts and what they are and how you can use it. For offshore companies in general in is common to use trusts to manage the company.

If you are looking for Offshore Company formation with a trust, then please contact cclogic.com we have specialized in company formation, Cyprus bank accounts and offshore merchant services.

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A bank reference will be needed from any personal bank account you currently have, this will be in the form of a letter and will be required from all the signatories, directors and shareholders of the account you are planning to open.

You also need to send the bank where you want to open the account a board resolution that choices the approved signatories. If you are hiring the services of an agency in your bank account application then they will be responsible for preparing this for you.

Once you have completed all the necessary documents and filled in the forms correctly ensure they are all signed and then they are to be sent together to the bank where you wish to open the account. Once your Cyprus bank account is open you can then make a deposit into it, normally this is in the region of 1,000 USD, 1,000 Euro or 500 GBP.

Any bank account opened in another country, apart from your own country, is considered an offshore bank account. Whether you are looking for a personal offshore bank account or a corporate offshore bank account the appeal of offshore bank accounts is the amount of tax you will save. Recently, rules and laws governing an offshore bank account have become a lot stricter. Any bank account holding over $1,000 USD has to be reported as income to the IRS, even if that bank account is located in a jurisdiction such as the Cayman Islands. Some companies and more affluent individuals choose to open an offshore bank account in the smaller sovereign states as they permit account holders to stay close to anonymous.

Continues at Cyprus Company Formation and Merchant Service Forum