That’s one of the first questions people usually ask me when they are thinking about establishing an Offshore Asset Protection Trust.
The cost of setting up an Offshore Asset Protection Trust will depend on a number of factors including which jurisdiction you are establishing your trust in, how many trustees you have, the value of the assets being transferred into the trust, and whether you want to have a “Protector” to oversea the trustee.
The most expensive place to establish an Offshore Asset Protection Trust is the Cook Islands. To set-up a trust in the Cook Islands, it will cost you between $USD 18,000.00 to $USD 25,000.00. On top of that there are annual maintenance costs of between $USD 6,000.00 to $USD 8,000.00.
If that is too expensive for you, then there are many other offshore jurisdictions that can provide Asset Protection Trusts s at substantially less cost. Belize and Nevis, for example, have legislation that is similar to the Cook Islands. They are also closer to home if you need to visit your trustee. There are also other, less known jurisdictions that provide Asset Protection Trusts.
There are a lot of choices out there when it comes to setting up an Offshore Asset Protection Trust, and navigating through international laws, as well as your own domestic laws to protect your assets from lawsuits and creditors, is very complex. Make sure you always consult with an asset protection lawyer before you do anything.