Jurisdictions

USA (Wyoming) structures

IN Fiduciary Services Group now also can assist its clients with structures based in the USA, State of Wyoming. Wyoming is a state in the mountain region of the western United States. It is the tenth largest state by area, the least populous state and the second least densely populated state in the country. It is regarded as one of the best jurisdictions for asset protection and trusts. It offers a high level of confidentiality and privacy and being in the USA there is no need to apply CRS and FATCA. Wyoming does not have any corporate, personal, or capital gains taxes.

We advise clients about trusts using private companies (LLC or Incorporations) as trustee. There is no register of trustees or beneficiaries. Bank accounts can be opened in a local bank, remotely.

Besides, we can assist with the creation of companies for our clients (LLC or Inc) that can be involved in international trading transactions. Our own Wyoming company is called IN Fiduciary Services (WY) LLC. We have a virtual office in Wyoming. However, we have no Wyoming license or charter but use fully licensed operators ourselves.

When creating a trust, we can use a dedicated Wyoming Limited Liability Company (LLC) as trustee, if need be using a local full service company as a co-trustee.

Why Wyoming

Wyoming is a state in the USA which is considered one of the best jurisdictions for trusts and trust companies. We believe that Wyoming trusts are ideal for Asset Protection structures. One of the main reasons is that the USA does not participate in automatic exchange of information, BEPS, CRS and any other OECD initiatives.

Wyoming’s favoured status is a combination of low taxes, advantageous trust statutes and asset protection laws, and a state legislature that is business friendly and proactive when it comes to wealth-protection.

Wyoming’s strengths

Privacy: Wyoming’s privacy laws completely and continually protect annual filing information provided by regulated Private Trust Companies. Furthermore, the state’s corporate law is such that IN Fiduciary Services can advise on the structure both unregulated and regulated Private Trust Companies to completely shield clients’ names, assets, and other relevant details from the public.

Wyoming Tax Benefits: Wyoming imposes no state income or capital gains tax on trusts.

Additionally, Wyoming has:

  • No corporate income tax
  • No state gift tax
  • No tax on out-of-state retirement income
  • No excise tax
  • No intangibles tax

Perpetual, Multigenerational Dynasty Trust: A properly-formed Wyoming Private Trust Company exists outside the federal transfer tax system, meaning during the life of the trust, gift, estate, and generation skipping taxes do not apply.

How to create a Wyoming Trust

IN Fiduciary Services (WY) LLC (IN FS Wyoming) is a Wyoming Limited Liability Company owned by IN Fiduciary Services Pte. Limited of Singapore. We have created this company to market our advice on Wyoming structures to the international clients of the IN Fiduciary Services Group (see: http://www.infiduciaryservics.com). The IN FS Group does not offer its services to domestic clients resident in the USA.

We prefer to use discretionary trusts where the instrument of trust does not disclose the person settling the trusts and where the beneficiaries are not named. IN FS Group will issue a document confirming its relationship with the client. The client may issue a letter of wishes confirming how he wants the trust to be run.

Registration of trusts

Wyoming trusts are not registered on any public registry.

Asset Protection

All amounts settled on a Wyoming trust will be protected even against claims by pre-existing creditors.

Beneficiaries

Wyoming trusts must have beneficiaries or a definable group of beneficiaries. In our trust instrument, we always mention beneficiaries "as nominated by the trustee".

Banks

We prefer to work with a number of banks in Wyoming, for example Bank of America or Wells Fargo. Naturally, we can deal with other banks too.

We assist our clients with the process of opening a bank account. We charge on a Time & Attendance basis. Please refer to our General Terms & Conditions.