Subject to legal advice and depending on the personal law of the Settlor, a Trust can completely avoid estate duty being levied on the assets in the Trust on the demise of the Settlor. A Trust may also have certain inter vivo income and capital gains tax advantages depending on the tax residency of the Settlor and the Trust itself. For instance, the BVI levies no income or capital taxes on offshore trusts domiciled in the BVI. |
