A private trust can hold interest in and/or liens over entities in any jurisdiction and operate from without those jurisdictions, i.e. foreign to those jurisdictions, as long as the trustee does not make minimum contacts into those jurisdictions by his actions on behalf of the trust.
Private trusts are foreign to all other jurisdictions except to the extent they interact with a certain jurisdiction. One trust may interact with multiple public trusts and stay entirely private and foreign as long as it only interacts with private people and entities such as holding trusts.