Depending on individual circumstances, it is highly likely that your professional adviser may recommend the inclusion of an international company or companies often in combination with a trust as the optimal planning solution.
Companies are separate legal entities to trusts, and can, just like an individual, own property and undertake commercial and private transactions.
Under Jersey company law, a company can be limited by either share or guarantee, or can be unlimited or of mixed liability. It is also possible to convert easily from one type to another should it be required. In Jersey, subject to the usual provision of AML and client documentation, a company can be incorporated within two to three working days or fast tracked (for a small additional fee currently £200) within 24 hours.
Our highly experienced team of professionals liaise with clients and intermediaries to ensure a tailored solution to meet the specific needs of the individual or business. The services we offer include:
Subject to individual circumstances you might benefit from using a holding company to own personal assets such as investments or property:
A person who earns irregular income outside of their country of residence may be able to establish a company and then sell his or her sole rights to their services to the company. Employment companies may also be utilised by onshore resident corporations to employ staff engaged in offshore projects. A benefit of both of the above scenarios could be to save on social security type deductions and simplify what would otherwise be complex employment regulations.
Establishing a company in a financially secure jurisdiction also provides a stable base for the employees of such corporations, regardless of geographical location in which they actually work. Earnings can be used to provide for pension or savings schemes and other employee benefits, often in a tax-free environment.
You may be able to use a company to hold trademarks, patents, royalties and image rights. It may be possible for the company to derive a profit from granting leases, rights or sole distribution arrangements to residents of other countries.
Company law is becoming increasingly complex. Often small to medium sized firms do not have the resource to deal with this aspect of company administration. Nedgroup Trust can assist either by providing full or partial company secretarial services or by acting on a retainer basis to provide on-going advice and guidance together with template minutes for key company events such as extraordinary general meetings, annual general meetings and approval of annual financial statements and declaration of dividends.
This has been high on both shareholders’ and regulators’ agendas for quite some time now. Demonstrating compliance with the codes and policies issued by regulators and self -governing bodies can be both expensive and time consuming and requires a dedicated resource to ensure that your policies continue to change and adapt to the changes in legislation and rules to include best practice.
It is also important to ensure that the board is functioning appropriately and it can often prove difficult to provide an independent review and instigate changes when individuals are buried under the pressure of the day to day workload. With our experienced team of governance and company secretarial professionals we are able to provide advice and guidance on board structuring and the management of meetings, as well as the provision of external reviews of the effectiveness of the board.
With a team of highly experienced professionals involved in all areas of financial services, including investments, banking, accountancy, funds, fiduciary services and insurance products, we are able to offer assistance to you in the selection process for an experienced non-executive director given our extensive global network of contacts.
The above is written as a general guide. Any course of action will depend on individual circumstances. You are strongly recommended to obtain your own specific tax/legal advice before you proceed. We do not accept any responsibility for actions taken as a result of reading this information sheet.
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