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Today we are discussing two commonly used terms in the offshore world - Trusts and Foundations.

What are the differences between those two? How do they operate? What should you know before setting up either of those? How can they be used for tax and asset protection purposes?

So, to start off trust is a common law instrument. It is not a legal incorporated entity, like an LLC for example. Trust can not own anything - it is the trustee that can.
Trust is a relationship that's protected. Also, it's important to note that setting up a trust requires putting some assets in, while setting up a foundation doesn't.

Foundation is a civil law instrument. They can be a little confusing, as sometimes people use the term foundation for something that's not legally a foundation.
Foundation is a type of corporation, but it can also be a trust. We can say that it's a hybrid between a trust and a corporation.

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Author: Michael Rosmer

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