It is now common practice to establish trusts in tax haven jurisdictions. Not many clients, however, are aware of the advantages that UK-established trusts can bring. The idea of a UK trust is especially attractive when beneficiaries and settlors are located in Europe or other onshore countries and do not wish the transfer of property to be associated with tax havens. Moreover, the law of England (under which the trusts get incorporated) confer the confidence and security of the UK legal system. A trust established in the UK offers reliability and reputation to its owners.
The first trustee of a trust established under the Law of England and Wales must be a UK-resident individual or company. In most cases, the trustee is a professional and licensed UK trust services provider.