Constution of trusts

Setting up trusts involves creating a legal structure in which an individual or entity (settlor) transfers property and assets to a third party (trustee), who holds and manages those assets for the benefit of specific beneficiaries.

Trusts are used for a variety of purposes, such as asset protection, wealth management, succession planning and reducing tax liabilities. They can offer advantages in terms of control, succession, privacy and asset management flexibility. However, the implementation of trusts must comply with local laws and regulations to prevent abuse or tax evasion.