The St Lucia Trust Act was first passed in 2000 and has been amended many times. The introduction of the St Lucia Trust Act the way was opened for the formation of charitable and non charitable trusts in the offshore jurisdiction.

St Lucia offshore trusts or international trusts as they are sometimes referred to as are firmed with the services of a registered agent in the jurisdiction. The Registered agent has to file an application with the Registrar of companies in order to register a St Lucia offshore trust. Included in that application is a fee and a signed statement by a lawyer stating that the trust to be registered is and international trust. They type of offshore trust (protective or charitable) must be mentioned in the statement. The name of the St Lucia offshore trust must also be included in the documents to be filed with the Registrar of Companies. An international trust formed in the offshore tax haven of St Lucia shall be created to be in existence for a period not greater than one hundred and twenty years (120).

As mentioned before there are two types of offshore trusts which can be set up in the tax haven of St Lucia; Protective Trusts and Charitable Trusts. Protective trusts are those offshore trusts which are set up to assets or incomes for beneficiaries. Charitable trusts are set up to benefit an entire society. Charitable Trusts are normally set up for the advancement of education, the relief of poverty, the protection of the environment as well as for the protection of human rights.

For the formation of a St Lucia offshore trust the following parties are needed; trustee, Trust settlor, beneficiaries and a Trust protector. The Trustee of the St Lucia offshore trust is the local company which has the responsibility of overseeing the offshore trust. The trust beneficiaries are the persons who are poised to inherit the assets of the St Lucia offshore trust.

Besides trust formation services, second citizenship application support is provided to clients. Our partner agent is reliable and gives sound advice for St. Kitts and Nevis program for second passports by way of the SIDF and the Dominica passport program. Owning a second passport has transformed into a necessity these days and is capable of rendering the financial and personal safety that you and your family may be looking for.

St Lucia offshore trusts are not subjected to local taxation in the offshore jurisdiction of St Lucia. The assets placed in St Lucia offshore trusts are not subjected to income tax, estate tax, gift tax, inheritance tax, withholding tax among other forms of taxation. As a tax haven St Lucia does not tax assets or income gained outside of the jurisdiction St Lucia offshore Trusts are exempted from stamp duty in the offshore tax haven. International trusts which are formed for the benefits of residents of the tax haven of St Lucia will be subjected to local taxation.

St Lucia offshore trusts are provided confidentiality and privacy by legislation. Information concerning St Lucia offshore trusts cannot be given away by the trust protector or trustee. Information which cannot be given out includes the names of the offshore trust beneficiaries or settlor, information concerning the bank accounts and assets of the offshore trust among information. The St Lucia trust is a good investment tool and can be used for asset protection as offshore trust legislation in the jurisdiction makes provisions for the protection of assets in offshore trusts from forced hiership and foreign court rulings.