Offshore trust

An offshore trust is like a secret bank account, but instead of it being in a bank, it's in another country. It's an agreement between two people or companies: one is the one creating the trust and the other is the person or company looking after the trust. The person or company that creates the trust gives money to the other person or company caring for the trust, and that person or company promises to look after the money and use it for the trust creator's benefit. The trust creator is still the owner of the money, but they don't have to pay taxes on it until they take the money out of the trust. Offshore trusts can help people save money on taxes and keep their money safe.