During the 22 years we have been providing our clients with trust services, we have received hundreds of questions regarding the content of practice areas, but mostly, regarding the extent and benefits of investing through a Trust. 

We have prepared a quick guide to a series of detailed answers to most of the FREQUENTLY ASKED QUESTIONS (FAQs) we receive, and hope that you find the ones you are looking for.

Should you not find the answers to your questions, please feel free to contact us at your earliest convenience and we´ll clear any doubts might still have.

Finally, be advised that we have divided our answers according to our services (products). Next you will find an adequate guide. Just click on the question you have and the program will take you to the related answer.

For more information you may also click here:

Thank you.






GLOBAL TRUST FIRM


Is GLOBAL TRUST FIRM only a Fiduciary Firm?

Where are GLOBAL TRUST FIRM's offices located?

Are you Lawyers and Public Notaries?

Can I hire GLOBAL TRUST FIRM to assit me in the purchase of some property in Costa Rica ?

What is a “ DUE DILIGENCE ”  and what is included in this service ?

What services ARE NOT included in the “ DUE DILIGENCE” ?

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GENERAL INFORMATION ABOUT TRUSTS

What is a Trust?

Is the anonymity of the trustor - beneficiary safeguarded as it would on an “anonymous corporation” ?

Do I have to write my own contract?

Can I have an independent lawyer revise my contract and provide me with professional advice?

What type of assets can compose a Trust?

Can I transfer an already registered property under my name into a Trust?

Do I have to wait until there's a transaction in order to transfer property into a Trust?

Can I create a Trust that holds properties located and registered OUTSIDE OF COSTA RICA ?

Can I form a Trust that operates in Costa Rica with assets registered in the United States of America , Canada and Europe ?

Can a foreigner form a Trust in Costa Rica ?

Can the actions and legal problems that may affect the owner of the Trust affect the assets held in the Trust?

Can I form a Trust for “secret purposes” ?

What happens if the object of the Trust is illegal in some country other than Costa Rica , but it is legal in Costa Rica ?

Can new assets be included once a Trust has been formed?

What happens to the assets that are not included in the Trust?

Can I personally administrate the assets held in Trust, without needing Global Trust Firm's representatives to participate in the process?

What happens if GLOBAL TRUST FIRM goes into bankruptcy?

What happens if the representatives of Global Trust Firm die?

Where is Global Trust Firm incorporated?

Does GLOBAL TRUST FIRM have other companies and/or bank accounts in “tax haven” countries?

Can a Trust have bank accounts?

Can a Trust constitute various corporations and open bank accounts with international debit cards associated to them?

Who pays taxes for the assets held in Trust?

Who keeps accounting records for the assets held in Trust?

Can I cancel a Trust at any given time?

Can I change GLOBAL TRUST FIRM as a Fiduciary?

Can I ask GLOBAL TRUST FIRM to provide justification and/or explanations regarding the Trust's management?

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PROPERTY TITLE ADMINISTRATION TRUST
(REAL ESTATE AND MOBILE )

 

What happens with property title? Am I the owner of a property held in a Trust?

Why is a Trust less expensive than a Traditional Property Transfer?

Why are the annual Trust maintenance fees covered by the advantages of having a Trust?

When my contract ends and “I get my title back”, do I have to pay transfer tax or registration fees?

Can I indicate “ANY VALUE” when transferring property to a TRUST?

Who is responsible for the up keeping and maintenance of the assets held in Trust?

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TESTAMENTARY TRUST

 

Why is a property transfer to your heirs faster than it is through a Will (testament)?

Why is the transfer to your heirs less expensive than it is through a Testament?

Can I change the designated heirs at any time?

Upon my death, what shall my heirs have to do in order to have access to the assets held in Trust?

Can my heirs have access to the assets before my death:

Can I include special conditions so that my heirs have access to the assets?

Who is in charge of verifying that all conditions are met?

Can GLOBAL TRUST FIRM be the “Executor” of my Trust?

What happens if at the my time of death an heir has not fulfilled a condition?

Can I include as an heir whomever I wish, including a Corporation or “another” Trust in another country?

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GUARANTEE TRUST

 

Why is the Guarantee Trust less expensive than a mortgage?

Why is the recuperation cost of using a Guarantee Trust half of the costs involved using a mortgage if a mortgage is still involved?

Why is the collection process faster than through a mortgage?

Why is the collection process less expensive than through a mortgage?

What is the process involved in the collection of a Guarantee Trust?

Can there be a Guarantee Trust in which in case of default the property is transferred to the creditor immediately?

If the debtor defaults, is the property transferred to the creditor?

If someone buys the property in guarantee at the auction how does GLOBAL TRUST FIRM handle the money?

What other advantages are there to a Guarantee Trust?

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E-mail: info@globaltrustfirm.com
Main Office:
Tel: (506) 2232-4000 - Fax: (506) 2232-2589
P.O.Box: 155-6150, Santa Ana, Costa Rica - Central America
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