A declaration of trust is the most popular type of legal document, which identifies the actual beneficial ownership of an IBC. A declaration of trust in the context of an offshore IBC is a written statement issued by the nominee shareholder to the beneficial owner. This statement confirms, essentially, that the nominee is in fact holding the shares in an IBC for and on behalf of the beneficial owner, and not for his own name. Such document would clearly state the name of the beneficial owner as the real owner of such shares, and would also reiterate, that the nominee can not transfer, deal with or dispose with the shares otherwise, than only under express written instructions by the beneficial owner. It would also state that all rights, profits, dividends and other benefits potentially accruing from such shares belong to the beneficial owner, and not to the nominee. A declaration of trust is one of those documents which the beneficial owner is well advised to keep in utmost secrecy.