11/27/2021
Attention International Families needing insured Private Vault Services in the USA for times such as these…
Take Advantage of Nevada’s Favorable Trust Laws
In the past, wealthy international families and businesses looked to Europe and the islands for asset protection – now they turn to Nevada.
Due to new international disclosure requirements, Switzerland, the Bahamas, and the British Virgin Islands no longer offer the privacies that historically attracted international wealth. However, Nevada is exempt from these new international disclosure agreements, providing a level of privacy that’s increasingly rare.
Fortunately, the United States in general, and especially Nevada, still prioritize privacy – even for non-U.S. citizens who choose to hold their assets in America.
Why Wealthy International Families Are Moving Their Assets to Nevada
The State of Nevada has become one of the most popular locations for asset protection and trustee services in the world.
Nevada is attractive to wealthy non-U.S. citizens for four reasons:
Nevada’s favorable trust and estate laws
The quality of Nevada attorneys and CPAs
The experience of Nevada trust companies in working with international families
Privacy
Also, Nevada sets itself apart from other U.S. states with favorable trust laws because:
Nevada does not tax the income of trusts
While most states require up to four years, the statute of limitations on the transfer of assets is only twenty-four months in Nevada
Nevada allows for directed trusts, allowing an independent financial advisor to manage the funds of the trust.
The Nevada legislature has displayed a positive track record of creating favorable laws for wealth management and asset protection, with continual improvements in each legislative session.
The Benefits of Forming a Trust in the United States
Although Nevada provides unique advantages, the U.S. overall is a great place for international families to establish a trust.
The U.S. offers:
Stability – The political and regulatory environment in the United States remains stable.
Strong Rule of Law – The state and federal court systems protect personal property rights.
Favorable Tax Laws – Non-resident aliens can avoid estate taxes on residential property held in a U.S. trust. U.S. securities held by an offshore company owned by a Nevada Foreign Grantor Trust are not subject to either U.S. capital gains taxes or estate taxes.
The State of Nevada also offers excellent privacy provisions when establishing business entities such as LLCs, with options for U.S. and non-U.S. citizens to keep their financial affairs private in trust.
Alliance Trust Company of Nevada has managing directors in the U.S., Latin America, Hong Kong, and Switzerland. They are a multilingual company speaking English, Spanish, French, Italian, and Mandarin. Like the state of Nevada, they continue to develop capabilities to better serve international families.
