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Payments for trusts, private trust companies and foundations
Distributions, expenses and investments paid in any major currency on the trustees’ instruction. We understand trust deeds, protectors and letters of wishes, and we document them properly.
In shortCCYFX makes distributions, expense payments and investments for trusts, private trust companies and foundations, including Cook Islands and Nevis asset protection trusts. Payments are made only on the instruction of the trustees or their authorised signatories, as the trust deed allows.
We read the trust deed
Trusts vary more than companies do. Who may give instructions, who may benefit and what the protector may veto all depend on the deed. We read it so that we act correctly on the trustees’ instructions.
We identify the settlor, trustees, protector and beneficiaries, as Canadian law requires. For discretionary trusts, we record the class of beneficiaries and identify individual beneficiaries when they receive a distribution.
Beneficiary distributions
Single or scheduled distributions to beneficiaries in their own currencies.
Trust expenses
Trustee fees, property costs, school fees and other expenses paid on instruction.
Private trust companies
We onboard the PTC, its board and the purpose trust or foundation that owns it.
Asset protection trusts
Cook Islands and Nevis trusts are welcome, with full disclosure of the settlor and the source of the settled assets.
What we will ask for
Preparing these documents in advance makes onboarding simpler. We confirm the exact list for your structure when you apply.
Trust
For the trust or foundation.
- Trust deed or foundation charter, with all amendments
- Deeds of appointment or retirement of trustees
- Letter of wishes or summary of purpose, if available
- Trustee’s licence, where a professional trustee acts
Parties
For everyone with a role in the trust.
- Settlor, including the source of the settled assets
- Trustees and their authorised signatories
- Protector or enforcer, where appointed
- Named beneficiaries, or the class of beneficiaries
Individuals
For directors, beneficial owners and signatories.
- Valid government-issued photo identification
- Proof of residential address
- Source of wealth statement with supporting evidence
- Politically exposed person and tax residency declarations
Common questions
Who can give payment instructions?
The trustees, or the signatories they authorise, as set out in the trust deed and their resolution. We check every instruction against those authorities.
Do you need to identify every beneficiary of a discretionary trust?
We record the class of beneficiaries and identify individual beneficiaries when they are named or receive a distribution, as Canadian law requires.
Do you accept asset protection trusts?
Yes, including Cook Islands and Nevis trusts, provided the settlor is identified and the source of the settled assets is documented.
Other structures
International companies
IBCs, exempted companies and LLCs used for holding, trading and investment.
Fiduciaries and CSPs
Licensed trustees and corporate service providers with client portfolios.
Family offices
Single and multi-family offices managing wealth across borders.
Tell us about your trust
Apply online in about ten minutes. We will reply with the documents your structure requires and an indicative timeline for onboarding.