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Offshore Trusts Report: BermudaLegal Framework And Formation Rules and Fees Trust management has been a significant activity for Bermuda for more than fifty years. Originally the main sources of trust business were the UK, the USA and Canada, but more recently other parts of the world have become increasingly important, as understanding of the trust concept has spread more widely. Successive tightenings of anti-avoidance legislation in the traditional markets have also tended to reduce volume. Bermuda has kept up to date with international trust practice but has been cautious about asset protection trusts, and the Bermudan legislation has attempted to draw a sustainable balance between the interest of the settlor and the creditor, rather than going all out for protection like many jurisdictions.
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