UK Offshore Trust

A New Zealand private trustee company might be used in conjunction with a UK private trustee company. Under UK law the trustees of a trust with several trustees are treated as a single "body of trustees".  The residence status of that  “body of trustees” at any given time is determined in the first instance by the residence status of the persons who are trustees at that time: 

• If all the trustees are either resident in the UK or not resident in the UK, the residence status of the body of trustees follows that outcome. 

• If at any time at least one trustee is resident in the UK and at least one is not, the body of trustees is resident in the UK only if any settlor of the trust was resident, ordinarily resident or domiciled in the UK at any time when he or she introduced property into the trust.

In this situation with both a New Zealand and a UK trustee a tax efficient trust for a non-UK and non-NZ resident and domiciled settlor may be created under English law. Also co-trustee in another convenient jurisdiction besides the UK may be deployed.

White list UK 5% nominee company with an NZ principal

This is a specialist product for use in international trade. It requires specialist advice to establish and manage.

Legal Advice should always be taken prior to the establishment of a trust or tax planning structure.