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Revised Laws of Saint Lucia (2021)

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10. Qualifications for trust to be or remain registered

(1) A registered trustee shall not apply for the registration of a trust as an international trust unless the trust meets all of the requirements of an international trust under this Act.

(2) A trust may be registered under this Act only if it has a registered trustee.

(3) If, during the period in which a trust is registered under this Act, it fails to have at least one trustee who is a registered trustee in good standing, the co-trustees, the beneficiaries or the protector, if any, shall appoint a registered trustee, and, failing such appointment, the trust may be struck from the register.

(4) The register maintained by the Registrar shall not be open for inspection by members of the public, except that—
1. (a) the registered trustee of an international trust may, in writing, authorise a person to inspect the entry of that international trust on the register; and
1. (b) the Registrar shall promptly respond to inquiries made to the Registrar in writing to the questions whether a trust under a given name is duly registered on the register and whether a certificate of registration is genuine, but the Registrar shall not disclose any other information regarding that international trust unless authorised in writing by the registered trustee.

(5) An international trust shall not acquire any new asset or engage in a purpose other than the purpose for which it was established from the 1^st day of December, 2018. (Inserted by Act 15 of 2018)

(6) An international trust established prior to the 1^st day of December, 2018 shall not acquire, directly or indirectly, intellectual property from a related party. (Inserted by Act 4 of 2019)

(7) Subsection (6) is deemed to have come into force on the 31^st day of August, 2018. (Inserted by Act 4 of 2019)

10. Qualifications for trust to be or remain registered

3. Trusts, trustees and beneficiaries generally

5. Designation of Registrar and Deputy Registrars

6. Indemnity of officers

7. Registered office

8. Application for registration

9. Registration

11. Language and translation

12. Fees payable to Registrar

13. Cancellation of registration

14. Appeals against cancellation

15. Validity of international trust

16. Presumption of irrevocability

17. Duration of trust and accumulation of income

18. Retention of control by settlor

19. Protective international trusts

20. Charitable international trusts

22. Extension of cy-pres

23. Protector of a trust

24. Failure or lapse of interest

25. Failure of charitable international trusts

26. Termination of international trust

27. Liability for breach of trust

28. Constructive trusts

29. Tracing trust property

30. Beneficiary may relieve or indemnify trustee

31. Power to relieve trustee from personal liability

32. Proper law of trust

33. Change of proper law

35. Jurisdiction of the Court

36. Court's determination of validity

37. Saving of certain rights

38. Extent of invalidity for creditors

39. Foreign judgments not enforceable

40. Application for directions

41. Payment of costs

42. Limitation on commencement of proceedings

43. Security for costs

45. Avoidance of fraud

46. Limitations

47. Application

49. Extent of avoidance of relevant dispositions

50. Statute of Elizabeth not applicable

51. Exemptions of international trusts and Saint Lucia trusts from income tax

53. Confidentiality

54. Investments

56. Regulations

57. Transitional

2. Interpretation

4. Application of Act

8. (Amended by Act 21 of 2003 and Repealed by Act 15 of 2018)

9. (Repealed by Act 15 of 2018)

21. Trusts for non-charitable purposes

34. Exclusion of heirship, community of property and other rights arising under foreign laws

48. Certain rights

International Trust (Forms) Regulations – Section 56