In this episode we’ll be discussing some concerns raised by our clients and our solutions to addressing them. Today, we’ll be targeting four of our services; Governance, Philanthropy, Islamic Estate Planning and Digital Assets.
I am worried about the many regulatory and compliance issues I have with my business. I need a good corporate services provider to help with them.
Governance is a very important integral part of any successful and sustainable business organization. Corporate Governance entails excellent management of the company, prompt compliance with statutory regulations and best practices., Board evaluation and continuous Board education. The consequence of not instituting a good corporate governance structure is very detrimental to the health of the business enterprise. When good corporate governance is abandoned, a company runs the risk of collapse, and not only the shareholders but everyone who has an interest whatsoever in the company suffers substantially.
At Fiduciary Services Limited, our extensive knowledge of statutory laws, industry-specific regulations, guidelines, and codes of corporate governance assures an efficient corporate governance structure which is crucial to the long-term growth and sustainability of your business.
I am a Businessman, I have accumulated so much wealth over the years. I am truly thankful to God for his many mercies upon me and to a lot of individuals who supported me financially in achieving my success. Now, as a show of gratitude, I must give back to my community in the little way that I can.
It is often said that charity does not deplete one’s wealth, it only increases it and because, at Fiduciary Services Limited, we recognize our clients’ desires for gratification especially through being generous, hence we work together with them to develop a personalized charity program that truly reflects their intentions. Whether our client’s intention is to establish a foundation just like many successful CEOs listed in Forbes i.e., Bill Gates etc. or instituting a Trust for the benefit of a certain category of persons within the community, we are very capable of bringing those intentions to reality.
Islamic Estate Planning
I am a devout wealthy Muslim and I’m also getting old hence I need to start planning on how to ensure that my Estates are properly inherited by my family members in line with the dictates of the Qur’an.
We respect the values and beliefs of our clients especially as regarding the divine injunctions that matters most to them. We also understand their concerns as to what would happen to their estates when they’re gone. That is why, at Fiduciary Services Limited, we have dedicated in-house personnel who are experts in Islamic Law of Succession and who would help institute a Shariah-compliant Estate plan to alley the fears of our Muslim clients.
I am desirous of breaking into the Digital space, I’d like to invest in digital assets and trade with it globally, I have knowledge whatsoever about it and in need of guidance.
We are in the age of disruptive technology especially in the financial sector, we now have digital assets of various kinds and nature. There are the Fungible assets (FTs) and the Non-Fungible assets (NFTs). Providing our High Net-worth clients with succinct guidance on profitable digital assets to invest in and the best time to invest is one of our many specialties.
PRIVATE OFFICE NEWSDESK
2. Global wealth manager Julius Baer’s has published its 2nd Annual Family Barometer 2021 which highlights the top priorities for UHNW families right now.
Family wealth-related topics and family governance continue to be the most important ‘beyond investments’ topics, at 26% and 25% respectively. However, less than 1 in 10 UHNW families seem to have established a formal governing body…
Read more here
3. MAURITIUS: Amended trust law brings determination of residency in line with OECD test
Recent amendments to the Mauritian Income Tax Act now deny Mauritian trusts established after 30 June 2021 the opportunity to file a declaration of non-residence, although a grandfathering provision will apply to existing trusts up to the 2024/25 year of assessment. The country’s revenue authority will now determine the residency of a Mauritian trust by the standard OECD central management and control test. According to law firm Evershed Sutherland, a Mauritian trust that is effectively managed in Mauritius and settled by a South African resident for the benefit of non-Mauritius beneficiaries should still qualify as a non-resident. It would therefore be liable to pay only income tax on its Mauritian-sourced income, the firm says….
Read more here
4. CAYMAN ISLANDS: Global citizen programme extended for further year
The Cayman Islands has extended the expiry date for the Global Citizen Concierge Program to 30 November 2024, with the last date for applications under the program extended to 31 October 2022. The initiative is designed to allow eligible professionals and their families to live in and work remotely from the Cayman Islands for up to 24 months and, as of October 2021, granted visitor certificates to 219 families. However, law firm Maples warns it could have certain ‘unintended consequences’ for professionals working in regulated industries….
Read more here