Offshore Trusts Law and Legal Definition
Offshore trusts are trusts created and administered under non-U.S. law. They are traditional trusts that are formed under the laws of an offshore jurisdiction. Generally offshore trusts are similar in nature and effect to their onshore counterparts. Some jurisdictions have very favorable statutes specifically written to protect the assets of the beneficiaries of a trust. Almost any type of asset like cash, real estate, securities, businesses, art and gold can be transferred into an offshore trust. Some of the strongest offshore trust jurisdictions are Cook Islands, Nevis and Belize.