Learn about the benefits of Primus Wealth’s unique hybrid trust (a trust managed by asset management foundation), currently the world’s No1 privacy protection vehicle. Competing structures cannot achieve the same level of privacy and the result that CRS, FATCA, BO registry reporting causes no issues.
The Asset Management Foundation is based on a legal person without owners’ concept. It gives an opportunity for the UHNW families to keep their privacy and wealth intact in the changing legal and economic environment, under the protective shelter of the EU.
The Asset Management Foundation is an excellent asset and privacy protection vehicle, as none of the creditors of the founder or the beneficiary may have access to the assets and the Foundation Board is considered as BO, instead of the founder and beneficiaries. This provides a unique opportunity for the UHNW families to protect their privacy whilst they keep strong control over the assets.
The Asset Management Foundation (AMF) is a legal person without owners, where the Foundation Board must manage the AMF’s assets. The Foundation Board must PRESERVE and PROTECT assets exclusively for the benefit of the beneficiaries.
The interests of the beneficiaries are protected by an Auditor and a Protector.
Neither the founder nor the beneficiaries are considered as beneficial owners if the AMF is properly structured. Therefore, they are not subject to CRS reporting and BO register.
Highlights of the hybrid trust:
- No dual ownership concept
- Full access to the financial markets
- Easy bank account opening process
- Easy banking
- Full privacy
- Not subject to CRS and BO register reporting
- Under the protection of EU Law
- All the DTT are applicable
- Under the umbrella of the foreign investment protection treaty network
- Possible to appoint a protector (corporate protector as well)
- Tax benefits, financial income is tax exempt
- Tax neutral treatment
- Tax compliance
- Tax free asset transfer
- Segregated bank and security account
- No available information about the founder and beneficiaries
US situs trusts under Nevada, Delaware, Wyoming and South Dakota law provide excellent privacy protection as the trust deed is a private document in the US and USA does not register the trust and the US companies’ beneficial owners. If you don’t conduct business in the EU, a US trust with a US bank account can be a perfect solution for asset and privacy protection.
Highlights of the US trust:
- No registration requirements
- No automatic exchange of banking information (CRS) therefore enjoy banking privacy
- 0% U.S. federal tax rate (on non-U.S. source income) for non-residents
- 0% state taxes in Delaware, Wyoming, South Dakota and Nevada
- No BO (Beneficial Owner) Registry in America
- Absolute privacy
- Reduced compliance burden
- Strong asset protection
- Flexibility
- Strict fiduciary duties
- The trustee is subject to a duty of confidence
- Chartered trustee
- Several types of trust
- Unlimited duration (in Delaware and South Dakota)
- Possible to set up an irrevocable trust
- The trustee is a US chartered trust company
- Protector
- Asset tracing
- Power to change the governing law at any time
- Tax free asset transfer
- Tax & legal compliance
- Segregated trust assets
- Segregated bank and security accounts for every trust
- No publicly available information about the settlors and beneficiaries
- Monthly financial reports to the client
