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The attraction of the trust concept is straightforward: the trust is the most flexible financial instrument for making estate planning arrangements, short term or long term, free from the restrictions of the legislative rules of the domicile. Whatever your wishes may be for the future ownership, management, and enjoyment of your property, they can almost certainly be achieved by using a trust. Trusts can also be used for commercial purposes -- mutual funds and structured debt for instance.

Forming a trust is a good idea wherever you live. But if you are unsure of where to start one you should definitely look at Cayman and maybe the Isle of Mann. Cayman is a very attractive jurisdiction to start a trust because they have gone out of their way to enact legislation to extend the protection and realm of trusts -- most notably,

The Special Trusts Act of 1997

Posted by Myron Gushlak at 12:52 PM | Permalink | Comments (0)

The supporting infrastructure in the Cayman Islands is modern and sophisticated. I've got real-time online access to the world's major financial markets as if I were in New York or London.

There isn't a 5 and a half foot tall dictator with a wife with a shoe jones minding the store. The Cayman's banking system relies on the rules established by The Basel Committee on Banking Supervision -- this is an institution created by the central bank Governors of the Group of Ten nations. The Basel Committee formulates broad supervisory standards and guidelines and recommends statements of best practice in banking supervision. Same rules as Switzerland here my friends. Only without the cold.

Posted by Myron Gushlak at 12:48 PM | Permalink | Comments (0)

Essentially there are five basic types of companies which may be registered in Cayman: resident companies, non-resident companies, exempted companies, limited duration companies, foreign companies and segregated portfolio companies. Regardless of which type of company you incorporate, you may do so with liability limited by shares or by guarantee, as unlimited companies, or even as non-profit organizations (if applicable).

You could do all the work yourself from here but everything can be handled/papered at a reasonable price by one of the firms licensed for this purpose. So WWMD? Hire a firm to handle it. This leaves more time for drinking mojitos on the beach. Remember, there is a lot of competition in Cayman for your business so I urge you to negotiate a good price for yourself.

Posted by Myron Gushlak at 12:37 AM | Permalink | Comments (0)

Starting a Company in the Caymans is a snap. Over 8,000 companies get registered every year. There is something here called

The Company Registry

Posted by Myron Gushlak at 12:35 AM | Permalink | Comments (0)

Starting a Company in the Caymans is a snap. Over 8,000 companies get registered every year. There is something here called "The Company Registry" which is really a one-stop shop. The staff there is extremely helpful and will guide you through the reporting requirements and various company structures offered here.

Essentially there are five basic types of companies which may be registered in Cayman: resident companies, non-resident companies, exempted companies, limited duration companies, foreign companies and segregated portfolio companies. Regardless of which type of company you incorporate, you may do so with members' liability limited by shares or by guarantee, as unlimited companies, or as non-profit organizations.

You could do all the work yourself but everything can be handled and papered at a reasonable price by one of the many professional firms licensed for this purpose. So WWMD? Hire a firm to handle it. This leaves more time for drinking mojitos on the beach. Remember, there is a lot of competition in Cayman for your business so I urge you to negotiate a good price for yourself.

Posted by Myron Gushlak at 10:02 AM | Permalink | Comments (0)

Why live and work in Grand Cayman? Because I can of course! It is actually a question I get a lot from people that have never been here. Besides the obvious -- it's a beautiful island paradise. It is also one of the world's premier international financial centers.

Unlike some of the other off-shore banking centers, the Cayman banking industry covers all bases: trusts, mutual funds, company management, structured financing, accounting, insurance and even listings.

Wait. Don't all of you move here at once or I won't be able to get table at Blue without a reservation. Damn! I had to open my big mouth.

There are also some smart people living here. It really is fantastic.

Posted by Myron Gushlak at 3:34 PM | Permalink | Comments (0)