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Offshore Trust Services Licenses

Offshore financial operations can be set up in a number of countries as "offshore" entities. You don't just have to put your money offshore. You can offer services to other who wish to take advantage of offshore possibilities.

 

Offshore to most people usually involves the use of banks, corporations, and foundations in tax advantaged jurisdictions to save money and provide privacy. Someone has to provide these services and it could be you! One of the offshore services that can be provided by another offshore entity is that of setting up and managing trusts. The increasing need for offshore services of this type can lead to a profitable business providing trust services.

 

Trust Formation and Management of Offshore Trusts and Provision of Trustee Services License

 

There are a number of jurisdictions for setting up an international financial entity and obtaining a government issued license. Working with someone knowledgeable in the field will no only help you choose the right jurisdiction but also which licenses to obtain. Working with an expert will help you set up your international business in a cost efficient manner.

 

Requirements for Government Issued Financial Licenses for Trust Services

 

Applying for a license for providing offshore trust services requires that you provide pertinent information regarding yourself and all directors, shareholders, and officers. You will need to provide names, addresses, and how much capital is going into the business.

 

As with most such applications the government in the jurisdiction involved may wish to know if you have been involved in bankruptcy proceedings or been the subject of any civil or criminal matters pertaining to the running of a business.

 

To the extent that you or your partners in setting up such a business wish a degree of privacy it is possible at times to use qualified nominee services. This is something that competent counsel can advise you on and set up if you desire. In general each step you take in offshore business is best guided by someone who has done this before. Once you have learned what you need you will be able to provide such things as trust services to others.

 

Fees

 

Typical application fees to the government in question will run around $500 for the application and $2,500 for the yearly license renewal. The application fee is not returned in the event of your not obtaining a license but the annual fee is only imposed if the license is approved.

 

Out Sourcing Back Office Work for a Trust Services Business

 

Outsourcing works for a large number of office operations. Typically work is outsourced "offshore." There is no reason not to take advantage of efficient, cheap services wherever you set up business. Every business operation from starting the application to ongoing management can be outsourced to competent and reliable personnel. It is even possible to find qualified nominees for positions within your company should you be disqualified in some manner. Look for help in setting up and managing web pages and in finding and setting up appropriate software to run your trust services business. As always go with someone who knows their business. You will be happy that you did.

About the Author

An offshore formations and banking specialist working for several companies regarding offshore structures, formation of companies, foundations, banks and financial institutions in several jurisdictions, including provision of government issued financial licenses.

Working for User Bancorp Ltd, which is providing private and corporate accounts, merchant accounts, offshore companies such as Belize IBC's (International Business Company), Panama corporations and foundations, wire transfer services, managed funds/forex, credit- debit- and prepaid card issuing.

We also offer co-ownership and shares in different investment programs such as real estate investment in profitable jurizdictions like Panama, Belize and Spain.

Certificate of Deposit/Term Deposit accounts available up to 9 % p.a.

Contact me on e-mail: geir.holstad@userbancorp.com

Do people really get caught driving people before a year of having a license in CA?

I live in Carmichael CA and I was wondering if police actually bust people for driving their friends before having their license for a year.

My friend does it all the time and hasn't been caught. Of course I know that doesn't mean that I won't but I've always heard that it's really not enforced and you can make an excuse that they're your brother or sister?

Please don't flame, it's just a question...

wait...you're not allowed to drive around your friend(s) when you HAVE a license? idk it sounds stupid to me. even if they did i'm sure they'd let you off with a warning.

5 year old in an off-license - S02E34