Principal Advantages of the Nevis International Exemept Trust Ordinance (2017)
- Settlor can be beneficiary.
- Settlor can retain some degree of control.
- Non-recognition of foreign judgements.
- Specific Statute of Elizabeth override provisions.
- After one year an asset donated to an APT is protected from attack by the statute of limitations.
- The burden of proving fraudulent intent is on the claimant.
- High standard of proof required in establishing fraudulent intent.
- A trust remains valid for any remaining assets even if fraudulent transfers of other assets have taken place.
- Binding effect of choice of local law.
- Forced heirship override provisions.
- Every creditor before bringing any action against trust property must first deposit a bond in the sum of US$25,000.00 to secure the payment of all costs should action against the trust fail.
- The rule against perpetuity does not apply but the maximum duration may be 100 years.
