I am a US tax resident and own a Management Company in Luxemburg and a Securitisation Fund. To maintain tax neutrality

Expert's Assistant chat
Customer: Hi, I am a US tax resident and own a Management Company in Luxemburg and a Securitisation Fund. To maintain tax neutrality of the Luxemburg Sec Fund I am establishing a trust in NZ. I cannot appear as the Settlor nor the Protector: 1. is it possible to establish a trust in NZ without me appearing as a settlor? 2. how can i retain some degree of control without appearing in the trust deed as a protector or any type of beneficiary? the trust will be managing the Lux Fund on behalf of 2 Swiss Charities i am gifting this to
JA: Hi. Have you talked to a New Zealand lawyer about this?
Customer: I started a conversation but dropped it since the costs of advice were far too high.
JA: What steps have you taken so far?
Customer: we selected the Swiss charities whom are going to be the benficiary of my gift, and received the first draft of the trust Deed but my name cannot appear as the settlor or protector
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: yes timing is ASAP is urgent
Answered by Chris The Lawyer in 3 hours 1 year ago
imglogo
Chris The Lawyer
10+ years of experience
logo

41992 Satisfied customers

Expert in: Family Law, Legal, Estate Law, Real Estate Law, Criminal Law, Employment Law, Business Law, Consumer Protection Law, Bankruptcy Law, Traffic Law, Personal Injury Law.

logoimgimgVerified lawyers, 10+ years of experience
Chat with a Lawyer in minutes, 24/7
imglogo

Verified lawyers, 10+ years of experience

Save time and money. Get specialized help.

imglogo
Chris The Lawyer
10+ years of experience
logo

41992 Satisfied customers

Jessica

Jessica

Consultant

31,131 Satisfied customers

Pearl avatar
Lawyer's, Assistant
14 Lawyers are online right now.
img

Chris The Lawyer, Expert

Hi My name is ***** ***** I am a New Zealand lawyer based in Wellingtonwith more than 42 years of experience. I am here to help with your questions.

Customer
hi
Customer
thank you for your time
img

Chris The Lawyer, Expert

Your difficulty will be in finding people who will act for you. The Trusts Act in New Zealand requires more transparency in the operation of trusts, and AML law may require you to be identified. So the secrecy you require may be difficult to achieve

i would suggest you engage a trust lawyer to give an opinion in detail

Customer
i dont know if you had the chance to read the summary i shared initially, but basically:
1. i am US Green Card holder, and I own a management company/securitisation fund in Luxemburg
2. i am gifting all my shares in the manco to 2 Swiss charities, and establishing a NZ Trust to manage this asset
3. all sources of future income for the trust will be foreign, and the UBOs are foreign too
4. i cannot be the settlor nor the protector as that would have us tax laws implications
Customer
i am basically trying to understand:
1. can i appoint a foreign settlor that is not be so i dont appear in the trust deed
2. how can i retain control without being mentioned as a protector in the trust deed
img

Chris The Lawyer, Expert

A combination of AML law and the Trusts Act will make  the secrecy difficult to achieve

Customer
right, but if the settlor is not me but someone else that live in europe, how would i be involved?
img

Chris The Lawyer, Expert

You will need to find someone for that role, and that would be difficult

Customer
but say i have it
Customer
i have someone who is willing to be settlor
Customer
that lives in the UK
img

Chris The Lawyer, Expert

You would need a New Zealand resident. Otherwise there is a real risk that the trust will be seen as a sham

Customer
the truees are NZ based
Customer
the trust we selected is a regulted entity in NZ
Customer
extremely professional
Customer
basically:
NZ Trust with 2 NZ based Trustees
UBO = 2 swiss charities
Settlor = non NZ resident (that is not me)
Asset = foreign/non NZ asset
img

Chris The Lawyer, Expert

But with a complex structure you need to brief a trust lawyer with full information. The details you are providing as we discuss appear to make your concept possible. But I would not only be able to give general advice and not a firm opinion

Customer
thank you veyr much for your help
Ask a lawyer and get your legal questions answered.
See all Legal Questions
img
Related Legal Questions
How it works
logoAsk for help, 24/7
Ask for help, 24/7
Members enjoy round-the-clock access to 12,000+ verified Experts, including doctors, lawyers, tech support, mechanics, vets, home repair pros, more.
logoExpert will respond in minutes
Expert will respond in minutes
After you reach out, we match you with an Expert who specializes in your situation. Talk, text, chat, whichever you prefer.
logoSave time & money
Save time & money
No scheduling hassles, missing time from work, or expensive consults.
A JustAnswer membership can save you significant time and money each month.
img
logo 593 Verified lawyers, 10+ years of experience
DISCLAIMER: Answers from Experts on Askalawyeroncall.com are not substitutes for the advice of an attorney. Askalawyeroncall.com is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response as proposing specific action or addressing your specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances should be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on any information received from an Expert, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains. The responses above are from independent, freelance Experts, who are not employed by Askalawyeroncall.com . The site and services are provided “as is”. To view the verified credentials of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service.
Explore law categories
Powered by JustAnswer