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TRUST

¿WHAT IS A TRUST?


What is a Trust?

This is a legal act in which a person known as the TRUSTOR (client) transfers to a TRUSTEE (BICSA) the title to one or more assets or rights to achieve a lawful purpose predetermined in the constituent act for the BENEFICIARY, which may be either a third party or the trustor.

Who is involved in a Trust?

The persons that are involved in the trust are:

  • The Trustor: The natural person or legal entity consigning or transferring the assets to the trustee for the purpose of administering the trust.

  • The Beneficiary: The receiver of the benefits of the trust or its revenues (through administration) or the assets themselves (through distribution).

  • The Trustee: Banco Internacional de Costa Rica, S.A., which receives the trustor’s assets to administer these in trust for the benefit of either the trustor or third parties, depending upon the agreement in the Trust Contract’s constituent act.

Advantages

  • Sound administration and management of funds
  • Security, privacy and confidentiality.
  • Protection of wealth and assets against possible lawsuits. These assets may not be seized or attached
  • Flexibility in estate planning, which can be carried out very smoothly, privately and simply compared to the inheritance process.
  • Long-term planning related to family assets.
  • Versatile financial tool that can be adapted to all needs.
Trusts offered by BICSA

  • Investment and Administrative trust.
  • Guarantee trust.
  • Other types of trust.
    • Testamentary trust
    • Custodial account
INVESTMENT AND ADMINISTRATIVE TRUST


In the Investment and Administrative Trust, the Trustee (BICSA) functions as an administrator and advisor of the Trustor (client), investing and administering the assets held in trust as well as creating appropriate liquidity, profitability and security structures to maximize the benefit to the Trustors.

Advantages

  • Sound administration and management of funds
  • Security, privacy and confidentiality.
  • Professional and specialized management of liquid assets.
  • Diversification of investment risks.
  Requirements

  • Letter addressed to BICSA requesting the establishment of an Investment and Administrative Trust.
  • General information regarding the natural person or legal entity requesting the Trust.
  • Due diligence documents.
  • Signed Trust Contract.
Further information

To obtain further information on Administrative Trusts, write us at this email and one of our executives will contact you.

GUARANTEE TRUST


In the Guarantee Trust, the Trustee (BICSA) functions as an administrator and advisor of the Trustor (client), investing and administering the assets held in trust to obtain the greatest benefit on behalf of the parties involved.

Advantages

  • Sound administration and management of funds.
  • Security, privacy and confidentiality.
Requirements
  • Letter addressed to BICSA requesting the establishment of a Guarantee Trust.
  • General information regarding the natural person or legal entity requesting the Trust.
  • Due diligence documents.
  • Signed Trust Contract.


Further information
To obtain further information on Guarantee Trusts, write us at this email and one of our executives will contact you.

OTHER TRUST


Since a trust is a broad and flexible operation that can be employed to manage a wide range of goals, we are in the best position to analyze your needs in this area and provide you with the benefit of our assessment services.

  • Testamentary trust. The Trustor (also known here as the Testator) transfers fiduciary title over certain assets to BICSA (the Trustee), which is required to manage these for the benefit of those named in the will (the Beneficiary) and to transfer the assets to these parties after a certain time or when a specific condition is met.
  • Custodial account. A trust for the custody of shares or other securities maintained to keep such assets private and confidential with respect to third parties.


Further Information

To obtain further information on Other Trusts, write us at this email and one of our executives will contact you.