ASSUME NOTHING!
Optional / additional Bermuda Trust Structure
Recognising than some potential owners of Raffles will already have established trust arrangements of their own the system of trusts explored below is for guidance only. It provides a method to add another layer of protection in the ownership of Raffles that should be suitable for most nationalities.
It is optional but if it appears attractive or needed then it is the responsibility of the individual owner to consult with their own legal / financial / tax advisors on it's suitability for their particular situation.
Under Bermuda law a wide range of trust structures are possible.
It is The Bank or their trustee company working with Alexanders shipping / corporate department that based on that shown in the organigram following will propose a trust and / or PTC arrangement that is most suitable for Raffles owners. If this option is desired this decision will only be made after taking into account the final 122 owners composition and as far as possible individual needs or wishes of the majority.
The final trust structure will be decided by The Banks Bermuda Trust Company and Alexanders as soon as practical after balloting (if any) for the 122 apartments takes place and once the majority of owners' nationalities and needs are known. This should be before any buyers funds are transferred from The Bank's escrow to Raffles Limited as the initial stage payment to allow the vessel's construction to start.