Bermuda Trust

The trust is a legal concept originally developed by English courts of equity although it is now governed, to a certain extent, by legislation. Bermuda trust law is based on English trust law but has been enhanced in certain areas by Bermuda legislation. English common law is a highly persuasive authority in Bermuda. A trust is the legal relationship created whereby a person (the “settlor”) gives property (the “trust fund”) to a trustee or trustees to hold the legal title to the trust fund for the benefit of certain persons (the “beneficiaries”) or for a specified purpose. Some trust arrangements also include a “protector”.

 

Key Features

Bermuda International Trust

Corporate Details

General

  • Type of entity

International Trust

  • Type of law

Follow English law/As per Trust Deed

  • Our time to establish a Trust

2 weeks

  • Taxation of trust assets

None

  • Double Taxation Treaty access

No

  • Change of Domicile permitted

Yes

  • Duration

100 years

  • Restriction on Investment of Trust asset

No

  • Succession

As per Trust Deed

Settlor

  • Requirements

Should not be a resident of Bermuda

  • Qualifications

A trustee, a beneficiary or a protector of the trust.

Beneficiary

  • Requirements

Should not be a resident of Bermuda

  • Qualifications

A trustee, a beneficiary or a protector of the trust.

  • Property

Should not include immovable property situated in Bermuda

  • Forced heirship applicable

No

Trust asset

  • Restriction on type/amount

No, except property situated Bermuda

 Trustee   

  • Minimum number

1 if corporate and 2 or more if not corporate

  • Qualification

No domestic trustee is required

Accounts

  • Requirement to file

Yes

  • Publicly accessible

No