Under the Offshore Banking Act 1979 a licensed Barbados Offshore Bank must be a Trustee of the Trust. The Settlor and Beneficiaries must be non-residents (Barbados).
The Assets of an Offshore Trust must be made up of foreign securities, monies, foreign personal or moveable properties or real or immoveable property outside Barbados.
The Trust is exempt from all tax in Barbados and has no filing requirements.
Please contact a private banker regarding an Offshore Trust.