Fiduciary Service

Protecting Your Wealth Securely

Fiduciary services-a relatively rare and exclusive product-is the most effective and worldwide way of taxation by selecting the most appropriate jurisdiction, depending on the nature of your business. The company Harbin Consulting SA, along with its tax services, also provides fiduciary services.

The notion of "fiduciary" from Latin "fiducia" means "trust". Thus, in the case of the provision of fiduciary services, a special trust relationship is implied between the person providing the fiduciary services and the person using them. Two examples of fiduciary relationships are trusts and foundations.

The trust

The trust is an agreement by which the property is placed at the disposal of the manager, but owns and earns the income of the so-called beneficiaries.

The trust is a very important tax planning tool and has several advantages:

• Protection of assets: The transferred property is free from the claims of third parties;
• Tax Planning: property is not subject to tax on inheritance or gift;

Security: The existence of instructions at the time of establishment allows for the full safety of the property and the use of them in the event of an unexpected death of the founder; Locating assets outside the country of residence the founder provides additional guarantees in the event of political instability;

• Reduced costs: In the event of sudden death, there is no need to reregister shares and other property, the trust is already the owner of the property;
• Confidentiality of relations: Non-disclosure of information on the founder and Beneficiantah of the Fund;
• The prevention of differences in inheritance;
• Preservation of property: Forced inheritance is prohibited, the transfer or pledge of property, the prevention of the influence of inexperienced or incompetent heirs, the flexibility of the contemplated orders for the heirs in case of sickness, Damage and other such situations.

Fund

With regard to funds, it is necessary to distinguish:

• The fund, as a legal entity, is similar in its meaning and purpose to the financial company;
• The fund as a legal entity performing functions similar to trust functions.
• We know that the establishment of international business companies is often a complex business. Through close cooperation with our highly skilled partners, we are providing services for company incorporation, administration and the representation of interests, both in Cyprus and in any other jurisdiction in the world.

When a company is registered in Cyprus, our firm offers the following fiduciary services:

• Provision of a registered office;
• Provision of the Company Secretary;
• Assignment of nominee shareholders;
• Appointment of corporate directors;
• Designation of subscriber bank accounts.

The lawyers of Harbin Consulting SA specialize in different branches of law and therefore, during the first consultation, they will be able to answer your questions quickly, succinctly, and most importantly confidentially.