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Can a US citizen owning a BVI company fund a US Revocable Trust with the shares in the BVI Company?

Asked in Trusts for British Virgin Islands

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Client has an existing BVI company he set up years ago.
We are now finding his trust. The trust company who helped him with the entity told the client that the shares of the BVI company can be assigned to a US trust (just like a US corp).
Can you confirm this for me?
 
Trust Tax
 
Posted by Bill on Sep 04, 2014 at 17:12
 

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Yes, a US trust can own anything in the world, even foreign companies' shares.
Tax implications of such transfer should be examined.
 
Posted by prominee.com on Sep 05, 2014 at 10:56
 

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