ASSET PROTECTION LEGISLATION IN ANTIGUA AND BARBUDA: BETTER PROTECTION OF DEPOSITED TRUSTS

Antigua and Barbuda enacted a series of asset protection, trust, and foundation laws; they include the International Trusts Act, International Foundations Act, International LLC Act, and Corporate management and Trust Service Providers Act, collectively, the “Acts.” These Acts constitute a system for the creation and maintenance of trusts in Antigua and Barbuda. The primary purpose of these Acts is to facilitate a high level of security regarding the creation of trusts, to insulate trusts from the claims of creditors, and to provide transactional confidentiality to foreign and local investors.

The following questions have been addressed in this article:

What burden of proof must foreign creditors demonstrate in order to be successful in their claims against trusts established in Antigua-Barbuda?
What provisions in the new legislation protect the confidentiality and security of investors' funds?
What principal powers does the new legislation confer on trustees?

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