All asset protection strategies have something in common: a properly structured scheme protects your assets from creditor claims and makes it difficult to locate your property.

A well-designed asset protection strategy not only helps you preserve your wealth but also creates opportunities for more flexible asset management and structuring.

Most asset protection experts agree that establishing offshore trusts and/or offshore funds in appropriately chosen jurisdictions can be powerful tools for protecting assets and ensuring their preservation for families that may benefit from them in the future. Offshore trusts and funds are often established in countries with low taxes or offshore status. These countries have earned a reputation for successful implementation, management, and operation of trusts and funds.

Asset protection goals:

Create a business environment that should deter third parties from making claims against the trust or fund's assets.

Separate actual control over assets from formal ownership rights to eliminate tax obligations associated with asset ownership.

Ensure the inheritance of assets according to the owner's wishes.

Based on the primary objective of asset protection, Thuraya FZCO offers the following legal instruments:

TRUSTS

Under common law, a trust is not a legal entity like an individual or corporation; it is a relationship between three legal entities, typically referred to as the settlor, trustee, and beneficiary.

From the outset, the settlor transfers assets into the trust, which are managed by the trustee. While the trustee has legal ownership rights over the assets, they are held for the benefit of the beneficiary. In other words, the ultimate owner of the trust assets is the beneficiary, but the trustee typically exercises significant control over how the assets are managed and distributed. Complicating matters, there can be multiple trustees and numerous beneficiaries - or even classes of beneficiaries yet to be born.

Trusts are versatile asset protection tools and are used in several ways.

An offshore trust is an agreement whereby the owner of specific assets (referred to as the settlor) transfers their full legal ownership rights to the relevant assets to a trustee. Offshore trusts offer several advantages, including complete confidentiality. A trust is a well-established legal agreement that does not necessarily need to be registered with any government authority, thus keeping its terms confidential from third parties.

The settlor, known as the grantor, transfers property to the trustee, who can be an individual or a company, for the benefit of the beneficiary or beneficiaries. The property can include anything transferable: shares, money, land, or real estate. Offshore trusts are often used by those who want to protect and maximize their assets, simplify the management of their assets and overall estate, engage in tax planning, and safeguard the interests of beneficiaries.

The Thuraya FZCO team can help you enhance your future by utilizing the following opportunities:

• Estate planning

• Tax planning

• Family member protection and estate preservation

• Will drafting

• Protection from potential creditors

• Continuation of the family business

There are numerous types of trusts that vary depending on the asset owners' needs. We offer those that are most effective in different countries: