An offshore trust is simply a conventional
trust that is formed under the
laws of an
offshore jurisdiction.Generally offshore trusts are similar in nature and effect to their onshore counterparts; they involve a
settlor transferring (or 'settling') assets (the 'trust property') on the
trustees to manage for the benefit of a person or class or persons (the '
beneficiaries').However, a number of offshore jurisdictions have modified their laws to make their jurisdictions more attractive to settlors forming offshore structures as trusts.
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The majority of offshore centers are tax havens so offshore trusts are simply trusts established to take advantage of low or no tax jurisdictions.
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