Foundations offer an alternative to traditional trust and corporate structures. We can offer Manx foundations to clients seeking such a solution.
We work closely with our clients and their professional advisors to ensure that appropriate structures are designed and implemented to meet our clients’ needs and objectives. Where a client lacks a relevant professional advisor, we can access our extensive independent advisor network to facilitate this need.
Foundations
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Isle of Man Foundations share the characteristics of trusts in that they do not have shareholders but, instead, each will have a founder and beneficiaries.
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They have their own legal ‘personality’.
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Foundations are run (in accordance with 2011 legislative regulations) by a council which can consist of the founder, beneficiaries, advisors (legal, tax or other professionals) and any other appropriate individual and may be used for private family wealth, charitable or commercial purposes.
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They can be particularly attractive for clients who may be more familiar with Civil-Law i.e. Continental European legal systems than Common Law i.e. United Kingdom based system.
