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The Seychelles Foundation are a versatile and robust tax and succession planning tool.
The Seychelles Foundation is a perfect succession planning vehicle.
Assets placed in a Seychelles foundation can be owned, controlled, preserved and enhanced by the foundation on behalf of the future generations of a family. At the same time the Founder has complete discretion as to which members of a family benefit from the assets of the Foundation, thus circumventing potentially restrictive laws of succession in the Founder's home country.
Other advantages of a Seychelles Foundation as a succession planning vehicle include:
- Certainty: the Seychelles foundation is a body corporate.
- Continuity: a foundation can own assets directly. It is not reliant on a third party such as a trustee for asset ownership.
- Control: founders can be accommodated as members of the decision making executive of the foundation (the Council) more readily than is the case with trusts.
- Confidentiality : if the founder so desires, the appointed beneficiaries of the foundation may be denied rights to information about the foundation.
- Longevity: foundations may be of infinite duration.
- Flexibility: Seychelles foundations can have fixed interest beneficiaries, or fully discretionary beneficiaries, life interest beneficiaries, or successive life interest beneficiaries. They can have non-charitable purpose objects and/or philanthropic objects; and these various arrangements may be made consecutively or concurrently.
- Tax efficiency: the Seychelles foundation is not taxed on its income or gains in Seychelles. Furthermore, onshore anti-avoidance rules typically attribute the income or gains of offshore companies (the foundation is an offshore company) to persons who own shares or interests in the offshore company. A foundation does not have and cannot have shareholders or other members or participators.
Jordans Trust Company (Seychelles) Limited is licensed and regulated by the Seychelles Financial Services Commission.