CARF Confidentiality: Why Svalbard & UK Trusts Work

CARF Confidentiality: Why Svalbard & UK Trusts Work

Svalbard cannot be part of any tax treaty due to Article 8 of the 1925 Treaty of Svalbard. This article stipulates that no country may receive any form of tax benefit or preferential treatment in relation to activities conducted in Svalbard — all 48 signatory nations must be treated equally. Therefore, if one signatory were to enter into a tax treaty, it would create unequal treatment and violate the treaty’s core principle of non-discrimination. The signatories to the treaty include countries such as Russia, China, and North Korea, among others.

Secondly, the United Kingdom will not abolish its non-resident trust structure. A non-resident trust is a trust governed by UK law, but with the trustee residing outside the UK. This structure remains a key feature of the UK’s trust and tax framework, often used for estate planning and asset protection purposes.

TIMESTAMPS:
0:00 – INTRO
0:40 – Confidentiality strategy
1:44 – Equal treatment requirement
2:28 – Jurisdiction reputation advantage
3:14 – Exchange demand limitation
3:34 – China data concerns
4:32 – Confidentiality threat summary
4:33 – OUTRO
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