Rick Mayer is a South African national planning to retire from a Fortune 500 firm and move to Thailand. Mayer was looking for an asset protection solution designed to be tax efficient in accordance to Thai Laws yet flexible to change if a more efficient structure can be formed latter. His main concern was to ensure bifurcation of the wealth he accumulated in South Africa (SA) and received from his father Sheldon Mayer from his future potential earnings in Thailand.
We understood his real requirement; which was to ensure that his SA wealth was protected and was there to take care of his family even if the Thai venture did not work out.
We set up a Seychelles Trust as per his requirements while being compliant.
The Structure has his father Sheldon Mayer as the Settlor, Rick as the Protector and their decedents (as per the Trust deed) the beneficiaries.
Post settling in Thailand, Rick plans to start a goods trading business from South Africa to Thailand. We created a Tax efficient structure by leveraging the Seychelles DTA agreement it has with South Africa and Thailand. A Seychelles Special Licence Company (CSL) was set up to import goods from South Africa and sell in Thailand. The Mayer Discretionary Trust was a shareholder and the dividends went into the Trust .