s 8 Creation of offshore trust
(1) An offshore trust shall not be valid unless it is created by a will or other instrument in writing, including a unilateral declaration of trust, but a unit trust shall be created only by a will or other instrument in writing. (2) A unilateral declaration of trust is a declaration in writing by a trust company stating— (a) that it is the trustee of an offshore trust; (b) the name of the trust; (c) the terms of the trust; and (d) the names or information enabling the identification of all the beneficiaries. (3) A unilateral declaration of trust need not contain the name of the settlor, but in such case the declaration shall contain a statement by the trust company that the settlor is a qualified person on the date of the making of the declaration.