<p>Let's try to talk about the Trust as an elementary structure.</p><p>So, what is a trust?</p><p>A trust is a written agreement, according to which one person (usually legal) becomes the legal owner of any assets that previously belonged to the founder of the trust. This person is called TRASTI. At the same time, income from ownership of these assets is not obtained by the legal owner (trust), but by other persons (beneficiaries) who are predetermined in the trust.</p><p>The name of the trust - restrictions for the name, as a rule, is not present, however the presence of the word TRUST in the title is mandatory.</p><p>The life of the trust is, as a rule, according to the law of 99-100 years, in practice it can be from 10 to 40 years. Investment trusts can exist for 3-7 years. Trust for teaching children 3-6 years.</p><p>Assets can be added to the trust at all times, these additions can be made by the founder of the trust and the legal owner - the manager = TRASTIS, other persons can add assets only by agreement with these two persons, unless otherwise provided by the trust agreement. Assets include: money, securities, shares in companies, real estate, valuable movable property, yachts, airplanes, helicopters, intellectual property, collections of art objects, wine, brandy collections, etc.</p><p>The founder of the trust, can be any legal or natural person who has reached the age of 18 (in some jurisdictions since the age of 21). The founder can not transfer assets that do not belong to him (they are not legally formalized).</p><p>Rule know your client (Due diligence) for trusts and trusts - when creating a trust, the trust company MUST make sure of the Tax purity of the assets transferred to the trust. If there are doubts about the purity of assets, then the trust company has the right: to refuse the client to create the trust, not returning the funds spent on the creation of the trust, or to offer the client additional checks at his expense in order to obtain convincing evidence of cleanliness. In practice, any options are possible. It should be borne in mind that every year the requirements become tougher, and what was possible a year ago now becomes impossible.</p><p>There are cases and every year there are more of them when trust companies block the assets of clients and ask to provide information about the tax purity of previously transferred assets. Unfortunately, many customers are not able to submit such reports, or they do not meet the requirements of the Trust.</p><p>I must say that it is not always possible to help clients with the transfer of trust, under our management with the subsequent procedure of tax clearance, for a number of reasons. One of them in the previously written trusts does not indicate the possibility of moving the trust to another jurisdiction and another trust. The second reason is that a new kind of fraud is developing in order to squeeze the maximum amount of money out of the Russian trust to its own advantage, it is possible to withdraw funds from blocked assets with impunity, for administration and alleged checks of the founder and his tax history.</p><p>The beneficiaries of the trust can be any legal or natural persons, including those who have not yet been born (for example, great-grandchildren), funds, other subjects and objects. The trust does not impose restrictions on the beneficiaries, but these beneficiaries need to be classified, have clear, definite directions.</p><p>Excluded persons for a trust are those legal entities or individuals who under no circumstances can claim assets or income from them in the trust. Even in court, they can not demand anything, since they are excluded at the stage of creating the trust.</p><p>The protector of the trust is a legal or natural person appointed by the founder, who provides control, and observes the provisions of the trust on the part of Trustee. The powers of the Protector are determined when the trust is created. The number of protectors, as a rule, is limited to six persons. The powers of each protector may differ significantly from each other. Protectors have the right to transfer their rights to another person, if it is defined in the trust. The powers of the protectors can end if they have reached a goal, or if it has ceased to exist.</p><p>Private Trust Company (PTC, Family office) This trust company with a license to manage trusts is sometimes limited by the number of trusts or a circle of founders. It is created under the laws "On trusts and trust companies", its activities are usually controlled by the supervisory authorities of the country in which it is created. Not all countries can be created, in practice there is an example when such a trust company was bought for $ 5 million + as much was given to its owner behind the scenes, like compensation for reputation (some offshore trusts have an agreement not to create other trusts and not sell their companies without the approval of other trusts).</p><p>The cost of creating such a structure will depend on the specific tasks assigned. If there is such a need, please contact me and give the initial data.</p><p>It is created, as a rule, in those cases when the assets are large enough from $ 50 million and you need your own "manual" management of such trust through trusted persons.</p><p>The cost of creating a trust - depends on the outgoing task, which the founder puts, in practice from 7,000 euros and above, a maximum of 120,000 dollars.</p><p>The cost of annual maintenance of the trust, also depends on the tasks set by the founder. Begins from 3500 euros per year for administering the trust.</p><p>In practice, there is a tricky fraudulent scheme when you sell a $ 1,000 trust with an annual maintenance fee of $ 500. And then miracles begin: the answer to your letter to the trust costs 1000 dollars, a phone call from $ 500 and above, any piece of paper, any answer is included in your account and can be up to $ 50,000 by the end of the year. Pay that you will be required, or they will simply be deducted from your asset. Even if you do not write and do not call them, they will send you a report you do not need, write letters, call to include it in value, such is the hidden payment of the cost of trust, as our saying "Miserly - pays twice!"</p><p>Therefore, the advice: all the nuances stipulate at the stage of creating a trust! Remember that our lawyers are even very good, with excellent legal English can not know all the subtleties of trust rights, and the consequences of one or another item of the trust agreement.</p><p>The term for the creation of a trust from 3 weeks to 15 months, depends on the founder, how quickly he reads and responds to the documents sent to him.</p>