NSM

e tailored to meet the specific requirements of our clients and the types of entities used include discretionary trusts, companies, foundations, partnerships, private trust companies and pension schemes. The type of structure employed will depend on the assets being acquired, the legal and tax advice both in relation to the client’s home jurisdiction and the location of the assets and the beneficiaries. New Street Management works closely with our clients’ trusted advisers to implement the structuring advice in an efficient and professional manner. In addition to traditional trust and company structures, the introduction of The Foundations (Guernsey) Law in 2012 has offered clients the choice of a different type of legal structure which allows the Founder to retain influence over the activities of the Foundation. Whilst many characteristics of a foundation are also found in a discretionary trust the additional oversight provided through the role of the Council and the Guardian mean that foundations are very well suited for either family asset protection or charitable purposes. We are increasingly seeing Sharia compliant structures being utilised and New Street Management works closely with a number of Middle Eastern and European banks on Islamic financing solutions to assist with asset acquisitions. The team at New Street Management have a particular focus on real estate and have been involved in many property transactions including residential and commercial developments and long term investments in the UK, across Europe and in the US. Over the past decade the trust industry has witnessed a significant move away from tax driven structures towards asset protection vehicles and whilst tax efficiencies can still be found this tends not to
be the main driving factor anymore. At the same time we have seen an increasing level of regulation around the fiduciary sector that reflects increased regulations globally in relation to anti-money laundering legislation. Guernsey has a highly stable political environment with a well-established legal system and a high level of regulatory oversight which enhances the jurisdiction’s reputation as an ideal location for trust and corporate services.