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STAR Trusts

December 2012 - Finance. Legal Developments by Ogier .

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The Special Trusts (Alterative Regime) Law 1997 (the initial letters of which give us the name, "STAR Trust"), now incorporated into Part VIII of the Trusts Law (Revised), introduced STAR Trusts into the law of the Cayman Islands. STAR Trusts are unique to the Cayman Islands.

A STAR Trust is a form of statutory trust which can be established for persons, purposes (charitable and non-charitable) or both. The STAR Laws only apply where the trust instrument expressly states that they are to apply.

STAR Trusts were introduced into Cayman Islands law to overcome some of the difficulties arising with the use of more conventional offshore trusts.