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Overview of New Zealand Foreign Trusts

In this month’s Offshore Investment magazine Vicki Ammundsen observes how New Zealand foreign trusts are able to minimise taxation in New Zealand due to the design and purpose of the trust rules in the New Zealand income tax legislation.  She explores the legitimacy of New Zealand trustees of foreign trusts and explains how the tax-free … Continue reading

Vanity fair and foreign trusts

Vanity Fair is an unlikely source of interest for people whose minds turn more often to trusts than trust fund babes.  However, a line in Vanity Fair’s recent interview with Ned Lambton, the seventh Earl of Durham, after whose ancestor Wellington’s Lambton Quay was named (the first New Zealand connection), warrants further consideration. Discussing his … Continue reading

Liquidation of trusts – more clever ways to winkle assets from trusts?

Although liquidation is generally thought of in the context of companies, it may be possible for a trust to be liquidated.  In what appears to be the first proceedings of their kind the Bank of New Zealand (BNZ) has made an application for liquidators to be appointed to two insolvent trusts.  As a starting point … Continue reading