An offshore trust is a conventional trust that is formed under the laws of an offshore jurisdiction. Generally, offshore trusts are similar in nature and effect to their onshore counterparts; they involve a settlor transferring (or 'settling') assets (the 'trust property') on the trustees to manage for the benefit of a person, class or persons (the 'beneficiaries') or, occasionally, an abstract purpose.
An offshore trust is a conventional trust that is formed under the laws of an offshore jurisdiction. Generally, offshore trusts are similar in nature and effect to their onshore counterparts; they involve a settlor transferring (or 'settling') assets (the 'trust property') on the trustees to manage for the benefit of a person, class or persons (the 'beneficiaries') or, occasionally, an abstract purpose.
Source: Wikipedia "Offshore trust" · CC BY-SA 4.0
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