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Fiduciary Services
Our discreet, personal and flexible service is based on client relationships built on trust, excellence and integrity.
Facilitate efficient succession planning and asset protection via a professional team administering trusts and other structures. In an uncertain world, properly structured trusts and foundations allow for international succession planning and asset protection in a reliable and often tax-efficient manner. To achieve this you need to work with a partner you can trust and rely upon. We take time to understand our clients’ needs and goals to ensure that any structure that is established is the right fit. We have experience and expertise administering a wide variety of structures and we can work with you and your other trusted advisers to deliver an appropriate solution.
Fiduciary Solutions
- Discretionary Trusts
- Foundations
- Private Trust Companies
- Managed Corporate Services Provider (‘MCSP’)
- Family Office
A Discretionary Trust is one of the most flexible types of trust structure.
In this type of trust, Imara Trust as Trustee has full discretion to decide on the share of the trust capital and income which each beneficiary may receive. As a result, it provides more flexibility than a Fixed Interest Trust and the Trustees can respond to future circumstances as and when they arise. No beneficiary is entitled to any right over the trust property and this can be a main benefit when using this type of trust for estate and succession planning purposes.
In administering a Discretionary Trust, the Trustee should receive guidance from the settlor as to the distribution of capital and income and this is given in the form of a letter of wishes. This letter may be amended from time-to-time or totally revoked but, whilst it provides useful guidance for the Trustee, it is not legally binding and the Trustees retain overall control of the trust assets.
We have extensive experience in discretionary trust services and the expertise of our teams lend well to the use of this type of trust.
Our services include:
- Drafting of trust deed to meet client’s specific requirements.
- Transfer-in of trusts from various jurisdictions.
- Provide a Private Trust Company* to act as trustee of the trust.
- Provide a corporate trustee for the trust.
- Offer holding companies to hold assets of the trust.
- Full administration services.
- Provision of statutory services.
- Accounting services.
The Mauritius foundation is an increasingly compelling structuring vehicle for high-net-worth individuals and businesses. The Mauritius Foundation can be operated like a trust but with the advantage of their own legal personality.
Introduced with The Foundations Act 2012 (the "Law"), the Mauritius foundation provides a versatile, robust, and personalised solution to what is often a complex problem, protecting wealth and ensuring it is working for the greater good.
A foundation can be tailored to the founder’s precise wishes, giving the founder the greatest possible freedom of choice. This flexibility requires. a clear understanding by planners of their client's requirements to design a structure that is robust and allows for efficient administration, consistent with good management and regulatory obligations.
Our services include:
- We work with our clients and their advisers to establish the foundation and to draft the appropriate rules.
- Will act as the qualified member of a Mauritius foundation.
- Provision of council members to act as the foundation council.
- Drafting of foundation regulations to meet the client’s specific requirements.
- Accounting services.
- Offer holding companies or private trusts to hold foundation assets.
- Provision of statutory services.
A Private Trust Company, or PTC for short, is a privately owned company incorporated specifically to act as trustee of one or more family trusts. The company shall be hold a Global Business Licence issued by the Financial Services Commission.
Like any other company, a PTC is run by its board of directors, who will be charged to make trustee decisions. Whilst run by the board of directors, PTC (and the underlying trusts for which they act as trustee) are usually administered by a professional trustee who is experienced in carrying out trust and corporate administration but with the added benefit of maintaining flexibility and mitigation against loss of control.
The advantages of using Private Trust Companies are as follows:
- Family control
- Ease of changing trusteeship
- Speed of decision making
- Privacy
An MCSP is a Management Company licensed by the FSC but which is operated under a Management Agreement by another full-fledged Management Company. The MSCP is a ‘facility’ offered by the FSC to promoters wishing to set up in a Trust Company in Mauritius and test the market; the operational environment and regulatory framework without the embarking on high capital outlays in setting up a full- fledged office. The licensed MCSP can thus avail of all the resources and know-how of Imara Trust as the managing MC in conducting their MCSP operations and providing services to their clients.
Imara Trust has much experience in setting up and managing MCSPs having done so on 6occasions since 2007.
Contact us nowOur aim is to add value by being the family’s trusted advisor, acting as an integral part of the family’s decision making.
Our service is based on building a relationship with the family’s decision makers and advisors to determine needs and objectives. We are then able to recommend and implement appropriate solutions to structure and administer the family’s assets, thus providing a complete service that is tailored to meet the family’s long-term vision and objectives.
We act as a central point of administration and co-ordinate the specialised services of families’ various advisors, providing a strong base that enables the family to focus on making the decisions that are needed to preserve and pass on their wealth.
We can provide a discreet and tailor-made service to meet your needs, whether that may be the simple administration of a single asset or creating and managing structures to hold the real estate, investments, yachts, aeroplanes, art and philanthropic interests of a large multi-generational family. We can also support external family offices by creating and administering fiduciary vehicles across a variety of jurisdictions for asset protection, estate and succession planning, and real estate investment.