ANGUILLA Trends and Developments Contributed by: Nina Rodriguez, Webster Legal
trusts emerge as a robust solution, repeatedly demonstrating their efficacy in asset protection, estate planning, confidentiality, and tax optimi - sation. In particular, an asset protection trust is a sepa - rate legal vehicle offering a multitude of bene - fits. Designed to safeguard assets from poten - tial risks and liabilities, these trusts serve as a shield against unforeseen events. Their versatil - ity allows them to hold a diverse range of assets, including real estate, bank accounts and other valuable holdings. It is best suited for assets that already are or can be moved offshore and for this reason real estate is quite commonly chosen as a trust asset. Its tangible nature and potential for appreciation make it an attractive choice for investors. By placing real estate assets within the protective confines of a trust, individuals can mitigate risks associated with property ownership while capi - talising on the benefits of offshore structures. Anguilla presents itself as a premier destination for those seeking secure and reliable wealth management solutions and some of the key benefits include the following. • Regulated by the English Common Law Sys - tem – the Anguilla government is stable and it is a British overseas territory, so it is well governed and secure. • Asset protection – upon creating a trust, the offshore trustee receives title to the settlor’s assets which protects them from risk of attachment by creditors of the settlor. • Confidentiality and discretion – Anguilla offers a level of discretion which is rarely found elsewhere. There is also no requirement to register your trust.
• Tax benefits – there are considerable tax planning opportunities by creating a trust in a tax-free jurisdiction such as Anguilla. Provid - ed the trustees are resident for tax purposes in Anguilla, the trust’s income and gains are not subject to tax and there will be no inherit - ance tax payable on the trust assets upon the death of the settlor. • No probate – trusts are not subject to probate because the wealth and assets held in trust no longer belong to the settlor. Instead, the trust owns them until such time as they are passed along to the beneficiaries. Avoiding probate can save a lot of time and effort and reduce costs. Developments contributing to the Anguillian real estate market The developments contributing to the Anguilla real estate market are multifaceted and dynamic, reflecting both the island’s inherent allure and strategic governmental initiatives. Since the lifting of all COVID-19 travel restric - tions in September 2022, Anguilla has enjoyed a resurgence in tourism, setting the stage for a vibrant real estate landscape. The island’s appeal as a prestigious tourist destination, cou - pled with its status as a tax haven, has attracted investors seeking not only financial returns but also a slice of paradise to call their own. Central to the growth of the Anguillian real estate market is its reputation as a premier tourism hot - spot. While official housing-price statistics may not be readily available, the palpable surge in vis - itor arrivals in 2023 reported by the government of Anguilla speaks volumes about the island’s growing popularity. To capitalise on this momen - tum, the government has implemented strategic measures, such as the temporary reduction of
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