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Trusts and foundations

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.

Our approach

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.

Payments

Beneficiary distributions

Single or scheduled distributions to beneficiaries in their own currencies.

Administration

Trust expenses

Trustee fees, property costs, school fees and other expenses paid on instruction.

Governance

Private trust companies

We onboard the PTC, its board and the purpose trust or foundation that owns it.

Disclosure

Asset protection trusts

Cook Islands and Nevis trusts are welcome, with full disclosure of the settlor and the source of the settled assets.

Onboarding

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
Questions

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.

Open an account

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.

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