Asiaciti Trust offers specialised wealth structuring and asset preservation services to high net worth individuals and their families. Our private client services include structuring, establishment and administration of trusts, foundations, funds and corporate vehicles for the purposes of estate planning, succession planning, wealth protection and philanthropic endeavours.
We invest in extensive consultation with each client to ensure we have a complete understanding of their unique needs and aspirations for the future. As a family owned business we are inherently aligned with, and appreciative of, our clients’ circumstances. Our independent status allows us to provide flexible, customised solutions to address their requirements. We are fiduciaries and confidantes of our clients’ wealth, and are committed to its long term safeguarding.
Solutions for Private Clients:
A properly structured private trust is among the most flexible and proven tools available for private client wealth structuring. Private trusts can be used to distribute wealth without needing to transfer direct equity or ownership to individual family members ensuring succession of wealth is regulated. The separation of legal and beneficial ownership achieved by a trust may also provide significant asset protection benefits.
A private trust company (“PTC”) is a company formed for the sole purpose of acting as trustee of a specific trust or group of related trusts. The board of directors of the PTC may include family members or their advisors, allowing the family to retain a degree of control over the trust assets. Other advantages include confidentiality and flexibility.
A foundation is a legal entity holding assets that are managed by a foundation council (similar to a board of directors). A foundation does not have shareholders but instead beneficiaries for whom the foundation is established. A private foundation is an excellent vehicle for private client wealth planning, to preserve and distribute family wealth.
Private funds operate similarly to commercial funds and can be constituted as either unit trusts or mutual funds. Sub-funds holding separate asset classes, (e.g. the family business, property, financial assets), with different shares and rights attached can be structured. Private funds provide strong governance, and the flexibility to own and manage virtually any type of asset under a common umbrella, making them an excellent investment holding solution.
This type of trust is established for a particular (charitable, quasi-charitable or commercial) purpose, rather than for beneficiaries. Once the purpose is fulfilled the trust will typically end. Common uses for a purpose trust are for charitable endowments or to hold the shares of a private trust company.
A company is a separate legal entity and may be formed to conduct business or hold assets as required. Similarly, a partnership is formed between two or more parties that share ownership to hold investments or conduct business. Jurisdiction specific legislation varies, and often incorporates unique features that provide opportunities for wealth protection and succession planning solutions.
A protector or enforcer is appointed to act as an independent check on the actions of a trustee or foundation council. They are responsible to oversee the trustee or foundation council and to ensure that the interests of the beneficiaries are prioritised. This provides additional peace of mind that the affairs of the trust or foundation will be maintained in the proper manner.
Corporate secretarial services include registered office and company secretary (comprising maintenance of statutory records and filing of statutory returns) and provision of local or non-resident directors as required.
Accounting and tax services include maintaining accounting records, financial statement preparation and the filing of tax returns as necessary.
General administration services include the opening and operation of bank accounts, attending to correspondence, mail handling and general representation.
