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Comparison of 5 major jurisdictions

Comparison of 5 major jurisdictions

Jurisdiction

Hong Kong

Singapore

Cayman Islands

British Virgin Islands

Jersey

Trust Period

No perpetuity period

100 years

150 years

360 years

No perpetuity period

Settlor Reserved Powers Trust

Yes, only investment can be reserved by the Settlor

Yes, only investment can be reserved by the Settlor

Yes, the Settlor can reserve the following powers to themselves or to the Protector:

  1. Power to appoint or remove trustees;
  2. Power to appoint or remove beneficiary or alter the class of beneficiaries;
  3. Power to give investment direction to the Trustee regarding the investment of the trust fund;
  4. Power to vary, amend or revoke the trust instrument;
  5. Power of distribution of income and capital of the trust fund;
  6. Power to act as a director of the companies held under the trust; and
  7. Power to change the governing law or forum of administration.


Yes, the Settlor can reserve the following powers to themselves or to the Protector:

  1. Power to vary or amend the terms of the trust;
  2. Power to approve distributions to beneficiaries;
  3. Power to act as director of a company owned by the trust; or to direct the trustee to appoint or remove a director of such company; or to direct the trustee to exercise the voting rights of the shares of the company owned by the trust;
  4. Power of investment;
  5. To appoint or remove the trustee, protector, enforcer;
  6. To add, remove or exclude beneficiaries; and
  7. To change the trust’s governing law and forum of administration.


Yes, the Settlor can reserve the following powers to themselves or to the Protector:

  1. Power of investment;
  2. Power to remove and appoint Trustee; and
  3. Power to amend the terms of the trust instrument.


Asset Protection Legislation

No (Protected by Bankruptcy Ordinance, time limit according to Articles 49 to 51)

No

Fraudulent Dispositions Law

No

No

Power of Beneficiary to remove Trustee

Yes (Section 40A of Trustee Ordinance, unless Section 40D applies). Beneficiaries who are absolutely entitled to trust property are able to appoint and remove trustees

No

No

No

Yes, apply through Court

Power of Beneficiary to access to information

No restriction, refer to case law.

No.

No restriction, refer to case law.

No restriction, refer to case law.

Restrictions apply according to Article 29 of The Trusts (Amendment No. 7) (Jersey) Law 2018, disclosure of information.




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