Private trust companies
More and more families are choosing to set up their own private trust companies to facilitate the preservation of family wealth for multiple generations.For those who have resources, private trust companies provide several advantages. These include the opportunity to choose the fiduciaries involved in managing the assets with limited trustee liability. They also offer continuity in management, reduced fiduciary risk and personal service which is becoming more important to families.
We regularly construct private trust companies for families, and for other groups who share a common interest. Popular locations include the Isle of Man, Jersey, Cayman Islands, Bermuda, British Virgin Islands, Bahamas and some US states including Wyoming, New Hampshire and Nevada. We also advise on the tax implications of operating a private trust company so as to ensure that it is properly structured from inception.
Greece based family office
Worked for a Greece based family office of a family with USD 3 billion of shipping, mining, commodity trading and real-estate assets on the establishment of Cayman and Bermuda based private trust company structures for the segregated protection and ongoing management of their personal and business interests in such a way that they are protected from domestic risks.
Reorganization of trust structures
We advised a long term UK resident European family on the reorganization of their trust structures in light of potentially penal changes to their home tax code. Private trust companies and trusts were converted into limited liability partnerships with the general partner mimicking the control and governance mechanisms previously used in the private trust company.
Brazilian family offshore structuring
We worked alongside Brazilian counsel to advise a client on the FATCA and CRS reporting requirements applicable to their complex succession structure for his offshore assets. These included a private trust company, trusts, companies and other entities, a private investment fund and multiple investment accounts, and involved the Bahamas, the Cayman Islands, Switzerland and the US. The advice also needed to take into account the client's plans to relocate his family from Brazil to London, and possibly thereafter to New York City.
Billionaire Mexican family
Creating multiple trusts, and private trust company arrangements to govern them, for a billionaire Mexican family to ensure compliance, confidentiality and efficiency in the management of their non-Mexican assets.
Clients in Chile, Mexico and Venezuela
Advised clients with cross-border interests in relation to the construction of private trust company structures, which effectively allowed for family business succession planning, cost reduction and greater control over certain trust decisions and tax minimization in the jurisdiction of domicile and internationally.
Multi generational South East Asia family
We were instructed by this family, consisting of several members spanning two generations, in relation to setting up a private trust company structure (PTC). The PTC acts as a trustee of a master trust to hold the family office, family business and family investment entity. The beneficiaries of the master trust were a series of "feeder" trusts established for the benefit of each of the family members and their respective families together with a number of charitable entities. In addition, we advised the family on establishing a sophisticated governance structure, including a family council and family constitution.
The UK "non-dom" regime
"Non-doms" have returned to the political spotlight.
In our series of articles we explore what the UK "non-dom" regime is, what it may look like in the future as a result of potential political change and the alternatives regimes available across the world.
Read our short articles below to find out more.
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Typical clients include
Families and family officesFamilies call on us when they want a firm that understands their needs – whether they are looking to pass down wealth, set up and run a family office, or make their mark through philanthropy. Find Out More
Family businessesFrom small companies to global brands, we understand the dynamics of family businesses and what makes them special. We offer a rounded view on everything from tax to succession planning. Find Out More
High net worth individualsWith complex interests that often span several jurisdictions, highly successful people need seamless advice. With a full-service offering across our offices around the world, we provide just that. Find Out More
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