Trust Establishment Enquiry Form

Information on the settlor(s)
Name(s), residential address(es), telephone and fax numbers *(see note 1)*.
Place of birth:		Date of birth:
Nationality:		Passport number(s): *(see note 2)*
Usual occupation(s) of the settlor(s) and name/address of the settlor's employer(s). If self-employed, please state the name and address of the business.
What is the source of the funds that the settlor will be settling on the trust? Is the settlor acting in a fiduciary capacity for another person? If so, please give full details (including the name and address of that person). *(see note 3).*
Please give the names and addresses of two professional advisers from whom references on the settlor(s) may be obtained *(see note 4).*
Has the settlor(s) ever either (1) been declared bankrupt; or (2) been involved in the management and/or ownership of an insolvent company; or (3) failed to satisfy any judgement debt; or (4) made any compromise or arrangement with his/her creditors? If so, give details *(see note 5).*
From whom has the settlor(s) sought professional advice on the tax and other consequences of establishing the proposed trust? And what was the nature of that advice? *(see note 6).*
In which country is the settlor tax resident? Is the settlor domiciled in another country?
Has the settlor at any time either (1) pleaded guilty to or been convicted of a criminal offence resulting in a sentence of imprisonment; or (2) been disqualified from acting as a director of a company by order of a court or other competent authority ? If so, please give full details.

Details required for the trust instrument
Name(s) and addresses of the first trustee(s). *(See note 7)*.
Is the trust to be established as a settlement or as a Declaration of Trust?
Proposed name of Trust/ Settlement
Full names, addresses, tax residence details and dates of birth of all named beneficiaries, or details of the class(es) of beneficiaries (see note 2).
What rights will the beneficiaries have to receive income and/or capital from the trust fund? Are the trustees to have full discretion over how and when the beneficiaries receive any benefits? *(see note 8)*.
Are the trustees to have power to add and/or exclude beneficiaries? *(see note 8)*.
Is a protector to be appointed? If so, who will be the first protector and for which powers will his consent be required? *(see note 9)*.

Information on the trust fund
Why is the trust being formed? *(See note 10)*
What is to be the initial settled property? Are other assets to be settled on the trust at a later date and, if so, what is the nature of those assets? Who currently owns the assets and in whose name are they registered? *(See notes 3 and 11)*
What action needs to be taken to vest ownership and control of the assets in the trustee(s)? *(see note 12)*
If the settled assets include shares in a private company, provide details of the company (see note 13).

Information on the administration of the trust
Where are bank accounts to be opened for the trust? *(See note 14)*.
Are the trust assets to be held through an underlying private company? If so, provide details *(see note 15)*.
Will the trust fund include a portfolio of investments? If so, which firm is to be appointed as investment manager? *(see note 16)*
Are auditors to be appointed? If so, which firm? *(See note 17)*.
What address should trustee.net.nz use for correspondence with the settlor (if different from above)?
Should trustee.net.nz correspond with any beneficiaries? Are the beneficiaries to be made aware of their rights under the terms of the trust?

Declaration by the settlor or his agent

I, the undersigned, declare that all of the particulars given above (and, where applicable, in any attached schedule or letter), are to the best of my knowledge and belief (having made all reasonable enquiries) true, complete and accurate. I am aware that trustee.net.nz will be relying on this declaration for the purpose of determining whether to accept the responsibilities of providing a trustee, having regard to their obligations under the Proceeds of Crime (Isle of Man) Law 1998. (See note 18)

Signed: ................................................................. Dated: .................................................................................

Name: .................................................................. Firm (if applicable): ..........................................................

THE INFORMATION PROVIDED ON THIS FORM IS TO REMAIN PRIVATE & CONFIDENTIAL TO trustee.net.nz AND ITS OFFICERS AND EMPLOYEES AND WILL BE USED SOLELY TO ESTABLISH THE ABOVE REFERENCED TRUST

THE FORM, WHEN COMPLETED, SHOULD BE RETURNED TO trustee.net.nz TOGETHER WITH A CHEQUE OR SIMILAR PAYMENT TO COVER THE FORMATION COSTS AND THE FIRST YEAR’S TRUSTEE FEES

NOTES TO trustee.net.nz – TRUST ESTABLISHMENT ENQUIRY FORM

If there is to be more than one settlor, please give this information called for in the first section in respect of all intended settlors, and also detail what property each of them will be settling on the trust.
Please attach certified copies of the settlor's passport and of the passports of every person who is to be named as a beneficiary of the trust. These copies should be certified as true copies by either a notary public; or a lawyer or other professional adviser known to the individual.
Please indicate whether the funds arise from the settlor’s personal wealth (in which case please indicate the source of this personal wealth) or from some other source. If the settlor is acting on behalf of some other person, we must know the name and address of that other person and have all the details shown in the first section of this form.
trustee.net.nz will only accept new business after it has satisfactorily completed certain due diligence enquiries. An important part of this process is obtaining satisfactory references on the clients involved: references are normally required from at least two persons or firms who act professionally for the client (i.e.: lawyer, accountant, tax adviser or banker) and who have known the client for at least three years. These references must be obtained by us directly; we are not satisfied by pre-prepared reference letters
If the answer to this question is "Yes", please provide as much information as possible about the circumstances.
Please state the name and address of the firm; the name of the partner; and the nature of the advice. Please also provide a copy of any written advice that has been given or, if that is not possible, please explain why it cannot be provided and instead provide a summary of the advice that has been received.
Normally, trustee.net.nz will appoint one of its New Zealand or Isle of Man corporate trustee subsidiaries to act as the trustee; however, alternative corporate and personal trustees can be appointed, subject to prior discussion and approval.
Both this and the previous question are intended to establish the extent of the trustees’ discretionary powers.
A protector might be appointed to oversee the exercise by a trustee of discretionary powers: the protector’s authority is generally a negative one, that is to say an authority to veto the decisions of the trustee but not one to compel action by the trustee.
Please explain as "estate planning" or Asset protection" or "Tax planning during emigration" or similar: please provide as much information as possible to explain the proposal to establish the trust.
It is common practice for the initial settled property to be a nominal amount of money, with further assets settled at a later date. We need to be satisfied that (a) the settlor may legally settle the assets on trustees, and (b) that the trustees will be able to arrange for the assets to be transferred to their ownership.
In the case of securities registered in the settlor’s name, transfers of those securities will need to be completed. In the case of securities held by the nominee, a notification of the change of ownership will need to be given to the nominee.
trustee.net.nz will need to have details of the place of incorporation of the company, its business, its board of directors and other management and also copies of its most recent accounts.
The bank accounts will be opened in the names of the trustees and operated by authorised signatories of trustee.net.nz.
trustee.net.nz will need to know where the company is to be incorporated, what the company’s business will be, whether trustee.net.nz is to manage it and, if not, who will manage the company.
Neither trustee.net.nz nor any of its subsidiaries provide investment management services or investment advisory services. An independent investment advisor or manager will need to be appointed to manage or advise on any investment portfolio.
The accounts of a trust need not be audited.
The declaration should be signed by the settlor(s) or a lawyer, accountant, tax adviser or similar professional adviser. The Proceeds of Crime Law requires trustee.net.nz to satisfy itself that the assets to be settled on the trust do not arise from any criminal activity, including any tax fraud.