Formation and administration of Trusts

As an integral part of our International Asset Protection and Estate Planning service, we are able to administer trusts for non-residents. Such trusts can be set up in recognised trust jurisdictions and administered tax-free from Monaco.

A trust is a unique vehicle that can be used for the following purposes:

• to ensure a settlor’s estate or part of it is distributed according to his wishes
• to avoid a country determining how the settlor’s estate or part of it is distributed on his or her death (forced heirship)
• for taxation reasons (income, inheritance, wealth taxes)
• to enable trust property to be held by persons trusted by the settlor, rather than being transferred directly to those who may be incompetent, too young, or spendthrift

Through our international network, we are able to establish trusts in many jurisdictions and administer them from Monaco.

Politically and economically stable, Monaco is an ideal location for the administration of trusts:

• it is outside the British Isles and the EU
• it has an efficient banking system and financial sector, including many of the larger world banks
• it has an excellent communications and transport system
• it is situated in the European time zone
• foreign trusts administered from Monaco are not subject to local tax.

Whilst trusts may be established in recognised jurisdictions and administered in Monaco tax free, Monaco has its own trust law that permits, subject to certain criteria, the establishment of trusts in accordance with Law 214 (1936).

Moores Rowland are approved Trustees for this purpose and included in the official Trustee List established by the Monaco Court Of Appeal.