OVERVIEW OF SEYCHELLES TRUST LAWS

The International Trusts Act of 1994 stipulates a trust relationship in the Seychelles.

 How is a Trust created?

A trust is created by a statement of intent to create a trust either orally or by means of a written document - a will or an addendum. In most cases, a trust is created on the basis of a Trust Management Agreement, and registration is required for this.

 The main features of the Seychelles International Trust

The Seychelles International Trust is characterized by the following features:

• Although trusts in Seychelles require registration, there is no trust documentation in any registry in Seychelles;

• The founder must not be a resident of Seychelles;

• The trustee must be a resident of Seychelles;

• The Trust can own real estate anywhere in the world, with the exception of the Seychelles;

• The founder can be a beneficiary;

• A trust can be created for a period of up to 100 years, unless an agreement is reached on its early termination in accordance with the terms of the Trust Management Agreement;

• The foreign income of the trust is not taxed in Seychelles.

The main advantages of the Seychelles International Trust

The International Trusts Act of 1994 provides for the following:

• If a person creates a trust or creates or transfers his property to a trust, neither the trust nor the transfer or disposal of the property can be invalidated by any rule of compulsory inheritance or due to the fact that the concept of a trust is unknown in a jurisdiction other than Seychelles.

• Unless otherwise stated by the Supreme Court of Seychelles, the trust is not invalid due to the bankruptcy of the Founder or the liquidation of the Founder's property, as well as in the framework of any claim or proceedings against the Founder in the case of a claim filed by its creditors.

• It is possible to file claims against the founder in connection with the transfer of property to the trust within 2 years from the date of transfer of property or disposal of it.