Could I be seen as having a sham trust?

by **confusedoldbloke** on Fri Jun 04, 2010 11:28 pm

I established a Trust in Belize in 2005 which holds title to many domain names and several UK registered trademarks.

I am the beneficiary, settlor and protector.

The current Trustees are effecively retiring from the marketplace.

If, as protector, I appointed a UK Limited company which I owed in name and shares and the new Trustee, is this legal, or could I be seen as having a sham trust?

The domains and UK Registered Trademarks are in the trust as a) I want to retain some privacy as they are an investment in a hostile market sector and b) for asset protection.

Thankyou

by **Lee Young** on Sat Jun 05, 2010 9:16 pm

Does the limited company have within its objects the ability to act as a trustee?

by **confusedoldbloke** on Sat Jun 05, 2010 9:55 pm

Lee Young wrote:Does the limited company have within its objects the ability to act as a trustee?

I was planning to have one setup as this, yes - a company limited by guarantee, so that it could not be argued that the trustees were receiving any benefit from being the trustees.