With the enactment of the Cayman Islands trust legislation, The Special Trusts (Alternative Regime) Act (“STAR Act ”) in November 1997, an innovative new trust regime was created. Trusts established under the STAR Act are known as Special Trusts and feature a unique protective feature in the form of an Enforcer. An Enforcer is defined as “a person who has standing to enforce a special trust” and one “with the right or duty to bring an action for the enforcement of a special trust.”
The appointment is usually a long-term relationship for the individual or entity, therefore, it is important that the Enforcer is one who understands the role, its obligations and responsibilities under the STAR Act , is independent of other interested stakeholders, and has the necessary resources and expertise to properly fulfill their obligations.
As a top tier trust service provider RHTC has the expertise and the capacity to act as an independent Enforcer and to ensure that proper safeguards are in place over the duration of the trust life.