St. Lucia International Trust: Asset Protection and Financial Privacy

Is a St Lucia offshore trust still a smart way to protect your wealth? For years, this Caribbean island drew families with strong asset protection, long trust terms and tight confidentiality. Then the rules changed. Saint Lucia stopped new registrations in December 2018 and repealed its International Trust Act on 30 June 2021. This guide shows you what the old law offered, what happened to it, and what it means for you now. You will also see how to reach the same goals, like estate planning and diversification, in jurisdictions that are still open.

What Is a St Lucia Offshore Trust?

An offshore trust is a legal arrangement. You, the settlor, move assets to a trustee, who holds them for the people you name. The rules are written in a trust deed.

On the island, the special version was called an international trust. The Saint Lucia International Trust Act (Act 15 of 2002, Cap. 12.19) set the rules from 4 September 2002. It replaced the earlier International Trusts Act of 1999. To qualify, a trust had to be made in writing, have at least one registered trustee at all times, be registered, and hold no land on the island. The law's correct name is the International Trust Act, not the "International Trusts Act of 2002."

Ordinary trusts still exist under local law. Article 916A of the Civil Code applies English law to the rights, powers and duties of trustees and beneficiaries. Those are general trust laws, not a special asset protection statute.

Why Did Investors Choose This Caribbean Island?

Saint Lucia is an English-speaking island nation located in the Caribbean. It gained independence from the United Kingdom in 1979. Its legal system mixes a Civil Code with a large body of English law.

In January 2000, the country launched an offshore sector with a package of new laws, including a licensing law for agents and trustees. The sector covered international business companies, offshore banking, offshore insurance companies, mutual funds and trusts. The trust law was aimed at international clients, individuals and corporations alike. It gave beneficiaries and settlors clear, written protections.

The regime was ring-fenced. Trust property could not include land on the island. That kind of offshore-only design drew pressure from the EU, which listed Saint Lucia as non-cooperative in December 2017. To show compliance with international tax standards, the government closed the special regimes and moved to a territorial tax system. Saint Lucia left the EU list in February 2021.

The St Lucia Trust Regime Closed in Stages From 2018 to 2021

Here is the timeline from the official laws portal:

1. 12 December 2018: Act 15 of 2018 repealed sections 8 and 9. Those were the sections for applying to register new trusts. Until then, the Registrar issued a certificate of registration for each approved trust. The same Act barred any international trust from taking on new assets or a new purpose from 1 December 2018.
2. 11 February 2019: Act 4 of 2019 stopped trusts formed before 1 December 2018 from acquiring intellectual property from related parties, backdated to 31 August 2018.
3. 30 June 2021: The International Trust (Repeal) Act (Act 16 of 2018) repealed the whole Act. Trusts registered before 1 December 2018 stayed under the Act only until that date.

So you cannot form a new St Lucia international trust today. Some websites still say you can register one in a day. That information is out of date.

What Protections Did the Old Act Offer?

The old Act had strong asset protection features. These no longer apply to new structures, but they explain why advisers used them:

• Two-year limit: A creditor had to sue within 2 years of the creation or transfer (section 42).
• Old debts only: A transfer stood if it came more than 2 years after the claim arose, if it came before the claim arose, or if the creditor waited over 1 year to sue (section 46).
• High proof bar: The creditor had to prove intent to defraud beyond a reasonable doubt. They also had to show the transfer made the settlor insolvent. Even then, the transfer was not void; the trust only had to pay up to the value the settlor put in (section 45).
• Cash deposit: A creditor had to deposit US$25,000, or more if the court ordered, before suing (section 43).
• Foreign judgments: Local courts did not recognize foreign court judgments against an international trust (section 39).
• Forced heirship: Foreign heirship and community property rules were excluded (section 34).
• Statute of Elizabeth: This old English fraud law did not apply (section 50).
• Change of law: The structure could move its governing law to another jurisdiction (section 33).
• Long life: The rule against perpetuities did not apply, and a trust could last up to 120 years (section 17).
• Protective trusts: The Act allowed protective international trusts to shield a beneficiary's interest.

Who Played Each Role?

Settlor

The settlor set it up and moved the trust assets in. Under section 18, a settlor could keep powers to revoke or amend it. They could appoint or remove trustees and protectors, and direct the trustee. They could even be a beneficiary without making it invalid.

Registered Trustee

Each international trust needed a registered trustee at all times (section 10). That trustee had to hold a licence under the Registered Agent and Trustee Licensing Act (Cap. 12.12). Its office served as the registered office (section 7). If the trust lost its registered trustee, the co-trustees, beneficiaries or protector had to appoint one, or the trust could be struck off. You did not need a separate registered agent in St Lucia. A registered agent serves companies.

Protector

The Act allowed a protector. Unless the deed said otherwise, a protector could remove and appoint trustees, change the trust's governing law, get advance notice of set trustee actions, and see the trust's accounts (section 23). The settlor, a trustee, a beneficiary or anyone else could act as protector, and a protector was not treated as a trustee.

Beneficiaries

Beneficiaries are the people who gain from the structure. The trustee holds assets for the benefit of the beneficiaries. The Act offered several types of trusts. These included protective trusts, charitable trusts and non-charitable purpose trusts.

How Can You Set Up an Offshore Trust Today?

You can still reach the same goals. You just need an active jurisdiction. Here is the path we use with clients:

1. Set your goals. Decide what you need most: protection from future claims, succession planning or diversification.
2. Pick an active jurisdiction. Compare the Cook Islands, Nevis, Belize and New Zealand.
3. Choose a licensed trustee. Check the firm's licence with the local regulator.
4. Draft the deed. Name your beneficiaries, a protector and the powers you grant.
5. Pass due diligence. Expect to show ID, proof of address and the source of your funds.
6. Fund it and report it. Move assets in, then file any home-country reports.

Do You Already Hold an Old International Trust?

The Act stopped applying to older trusts on 30 June 2021, so the special protections above no longer back them. Talk to your trustee and a lawyer now. Ask what offshore trust administration looks like after the repeal, and whether to move the trust to a new governing law.

What Did It Cost, and How Long Does It Take Now?

Under the old Act, the International Trust (Fees) Regulations set a US$300 annual fee, due by 15 January each year. The registration fee matched the annual fee for trusts registered from January to March, and fell by 25% for each later quarter. For the first half of 2021, the annual fee was halved. Licensed trustee firms themselves pay a US$2,500 yearly licence fee.

Today, there is no registration timeline because new trusts cannot be registered. In an active jurisdiction, trustee fees, annual costs and setup time vary by trustee and asset profile, and we confirm them for your case. Our fee to settle a trust in an active jurisdiction is US$15,000.

How Do Tax and Reporting Work?

Section 51 of the old Act gave international trusts an exemption from income tax. That section went away with the repeal. A trust now falls under the ordinary local tax rules, so confirm its treatment with a Saint Lucia tax adviser before you rely on any exemption. The country has also moved its company taxation to a territorial system, where foreign income of companies that meet substance rules is not taxed.

A trust does not cut your home-country tax. The Automatic Exchange of Financial Account Information Act (No. 22 of 2016) puts the Common Reporting Standard (CRS) into law. Saint Lucia began CRS exchanges in 2018 and has exchange agreements in effect with all its interested partners. It also signed a reciprocal Model 1A FATCA agreement with the United States on 19 November 2015, which has been in force since 1 September 2016. If you are a US taxpayer, you must report your worldwide income. US persons who deal with a foreign trust generally file Form 3520, and a foreign trust with a US owner files Form 3520-A.

What Are the Risks and Limits?

• No new trusts: The regime is closed. Nothing on this page lets you form a new international trust.
• Frozen old trusts: Existing trusts in St Lucia could not take on new assets from 1 December 2018.
• No guarantees: No trust is beyond reach. Even under the old Act, a creditor who proved fraud and insolvency could be paid from trust property.
• No secrecy: From 2018, the Act brought in beneficial-owner rules covering settlors, trustees, protectors, beneficiaries and anyone who controls 25% or more. A trust can support asset protection and financial privacy, not anonymity.
• Land limits: Holding Saint Lucia land on trust for a non-citizen needs a Cabinet licence.
• More scrutiny ahead: The country faces its next anti-money laundering review in 2028.

How Does Saint Lucia Compare With Other Trust Jurisdictions?

Today Saint Lucia offers no new international trust, but the Cook Islands and Nevis, along with Belize and New Zealand, still have active trust laws. Start with these guides:

• Cook Islands trust
• Nevis trust
• Belize trust
• New Zealand trust

Each page sets out that jurisdiction's limits, costs and timeline.

Where Do Companies and Bank Accounts Fit In?

Many clients pair a trust with a company. We set up offshore companies and other international companies in many jurisdictions. Saint Lucia's International Business Companies Act (Act 40 of 1999) governs the international business company. That regime was wound down in the same reforms, which let all Saint Lucia companies trade at home and abroad under one tax system. See our company formation guide for the island.

Here is how companies and other parties fit around a trust:

Do you need a bank account in Saint Lucia? Not always. Your trustee can open a bank account wherever it makes sense. The Financial Services Regulatory Authority (FSRA) supervises international banking as well as registered agents and trustees. Among banks in Saint Lucia serving foreign clients is PROVEN Bank (Saint Lucia) Limited. It was formerly BOSLIL Bank Limited, and before that Bank of Saint Lucia International Limited. It has traded under its PROVEN name since January 2023. Expect full due diligence at bank account opening. For an offshore bank account, see our guides to bank accounts in Nevis, Belize and the Cayman Islands.

How Are St Lucia Offshore Trusts Changing in 2026?

On 18 February 2026, the Government of Saint Lucia said the country remains fully compliant with EU tax good-governance standards. It credited reforms such as abolishing preferential regimes, moving to a territorial tax system and taking full part in the CRS. The release also said the next EU list review was expected in October 2026. After the February 2026 EU review, Saint Lucia was on neither EU list, and it was not on the FATF grey list in June 2026. With the special offshore regimes gone, domestic and international business now follow more of the same rules.

Our insight: Since 1996, we have learned that a strong statute is not enough when setting up trusts for clients. It needs political staying power. When a trust law is repealed, clients face cost and paperwork to move. So we look at a jurisdiction's track record before we recommend it.

Our prediction: We think the government is unlikely to bring back an offshore trust law soon. Its focus is on transparency before its 2028 anti-money laundering review. That could change, but current signals point toward more reporting, not less.

Have Questions? Here Are Quick Answers

• How much does a St Lucia offshore trust cost?

  You can no longer register a new international trust there, so there is no current setup price. Under the old Act, the Registrar charged a US$300 annual fee, and the first-year fee was cut by quarter. Our fee to settle a trust in an active jurisdiction such as Nevis or the Cook Islands is US$15,000.

• How long does it take to set up a St Lucia offshore trust?

  It cannot be done today. The sections that allowed new registrations were repealed on 12 December 2018, and the whole Act was repealed on 30 June 2021. Websites that promise one-day setup are out of date.

• Can creditors break a St Lucia offshore trust?

  Under the old Act, creditors faced a 2-year limit, a US$25,000 court deposit and a beyond-reasonable-doubt standard for proving fraud. Even when they won, the trust only had to pay up to the value the settlor had put in. With the Act repealed, the position of older trusts needs a lawyer's review.

• Do I have to report a St Lucia offshore trust to my home tax authority?

  In most cases, yes. Saint Lucia has exchanged financial account data under CRS since 2018 and has a reciprocal FATCA agreement with the United States. US taxpayers must report worldwide income, and foreign trusts with US owners have their own IRS forms. Check your filing duties with a tax adviser.

• Can I still form any kind of trust in Saint Lucia?

  Ordinary trusts can still arise under the Civil Code, which applies English trust law to trustees and beneficiaries. But there is no longer a special asset protection statute. Holding Saint Lucia land on trust for a non-citizen also needs a Cabinet licence.

• Did a St Lucia international trust need a licensed local trustee?

  Yes. At least one trustee had to be a registered trustee at all times, licensed under the Registered Agent and Trustee Licensing Act. Licensed trustee firms pay a US$2,500 yearly licence fee.

• How long could a St Lucia international trust last?

  Up to 120 years. Purpose and charitable international trusts could last without a time limit, and the rule against perpetuities did not apply.

• Could the settlor also be a beneficiary under the old Act?

  Yes. Section 18 let the settlor be a beneficiary and keep powers to revoke, amend, direct the trustee or appoint trustees without making the trust invalid.

• What powers did a protector have?

  Unless the deed said otherwise, a protector could remove and appoint trustees, change the trust's governing law, get advance notice of set trustee actions and see the trust's accounts. The settlor, a trustee or a beneficiary could act as protector.

• Who regulates licensed trustees on the island?

  The Financial Services Regulatory Authority (FSRA) supervises registered agents and trustees licensed under the island's licensing law. It also supervises international banks.

• Is Saint Lucia on an EU or FATF blacklist?

  No. Saint Lucia left all EU tax lists in February 2021 and was not on either EU list after the February 2026 review. It was also not on the FATF grey list in June 2026. Its next anti-money laundering review is due in 2028.

• Were these international trusts secret?

  No. The register was not open to the public, but from 2018 the Act brought in beneficial-owner rules, and Saint Lucia shares account data with foreign tax authorities. Privacy is not the same as secrecy.

• What should I do if I hold an old St Lucia international trust?

  Talk to your trustee and a lawyer. The Act stopped applying on 30 June 2021, so its special protections no longer back the trust. Ask whether the trust should move to a new governing law.

Key Takeaway: Same Goals, Better Jurisdiction

Saint Lucia once offered a strong trust law with a 2-year limit, a high proof bar and long trust lives. That law is now repealed, but your goals still matter. Asset protection, estate planning and diversification are all within reach in active jurisdictions. We can help you compare offshore solutions and pick the right fit. Book a consultation today.