Trusts
Transparency of Trusts
Trusts are widely recognised as asset holding vehicles that can be used for a range of legitimate purposes. For instance, planning an inheritance; controlling and protecting family assets for children or classes of family members; holding and managing assets for vulnerable adults; or holding assets on behalf of a charity. However, various reports published by international organisations have also revealed the illegitimate use of trusts to hide identities and ownership of assets, especially when trusts are used as the final step in a complex ownership chain of companies. A World Bank study across 30 years found that nearly 70% of more than 200 large-scale corruption cases relied on anonymously owned companies, including the use of trusts and shell companies to disguise ownership.
Our objective is to address the lack of information and research on beneficial ownership of trusts (BOT) by examining the current international policy and regulatory framework on BOT, presenting research and policy recommendations, and identifying areas for further study.
Our Key Experts are specialised in
Drafting, reviewing, and advising on policies, laws, and regulations regarding trusts.
Developing guidelines and creating a roadmap for the establishment and operation of trusts.
Providing a guide for implementing transparency in trusts.
Offering country-specific technical support for ensuring BOT of trusts, including the establishment of a central beneficial ownership register as recommended by the 5th Anti-Money Laundering Directive (AMLD5).
Conducting workshops and training sessions for competent authorities in the field of anti-money laundering and countering the financing of terrorism (AML/CFT) to promote transparency in trusts.