Trusts

Special trusts of company shares (STOCS trusts), purpose trusts, and enhanced creditor protection provisions all included in a wholesale and exciting revamp of TCI’s trusts statute Owen Foley of Misick & Stanbrook looks at TCI’s new Trusts Ordinance. Background As a British Overseas Territory with no direct taxes, the Turks and Caicos Islands (TCI) has been an attractive domicile for trust establishment by high-net-worth individuals and their advisers for many years. However, in the recent …

Now that we are in election season here in TCI, many clients are being asked for political contributions. In light of TCI’s recent history, that causes concern as to what, if anything, is permissible, hence this brief legal summary: The matter is now regulated by the Political Activities Ordinance 2012. Part IV of the Ordinance deals with donations to political parties, but the aspects referred to below apply likewise to donations to independent candidates. We …