What we do
Three things we are asked to do
Delivered independently by trusted experts, with a personable approach that puts you first.
Service 01
Wealth Structuring
Wealth structuring can take many forms using a variety of legal entities or arrangements, the most common of which are trusts, foundations and companies.
Trusts
Trusts are an ideal way to help you and your family manage and preserve your family wealth:
- They protect the spendthrift, as some would see it, from their own shortcomings by placing the control and management of funds under an independent trustee with full authority to make decisions as to how and when such funds may be spent to provide benefits.
- They can be used to assist the disabled by providing and/or enhancing their independence, well-being and financial security.
- When it comes to estate settlement, trusts can help avoid the time, expense and publicity of probate.
- Trusts can be used to transfer wealth efficiently from one generation to the next.
- By “generation skipping” with funds going from, for instance, grandparents to grandchildren, trusts can help solve family inheritance issues.
- Until Courts recognise pre-nuptial or post-nuptial agreements they do assist in protecting beneficiaries from some of the vagaries of the justice system.
Foundations
Odin Fiduciaries Limited has experience establishing and providing ongoing management to Isle of Man foundations which can be used as an alternative to a trust or company. The benefits of a foundation are:
- It has its own legal personality
- Understood by civil law jurisdictions
- It is capable of holding assets in its own name, and is able to sue and be sued
- It can have non charitable or charitable objectives
- Beneficiaries do not need to be named on establishment
Companies
Company Formation
We are experts when it comes to company formations in Isle of Man. We offer a comprehensive company formation service, helping you to register a company in Isle of Man.
Company Administration
Companies in the Isle of Man are operating in an increasingly regulated environment, facing various challenges in order to comply with their statutory obligations pursuant to the Isle of Man Companies acts 1931 and 2006.
Strict company legislation means that in order to maintain a compliant company and avoid unnecessary fines and prosecution, it is vital that you have a strong corporate compliance and governance plan in place.
In addressing your specific requirements, our corporate compliance team will provide a tailored service that will meet your particular needs.
Corporate Compliance Services
- Company Formation and Statutory Maintenance
- Corporate Re-structuring
- External Company (Branch) registration
- Dissolutions and Members or Creditors Voluntary Liquidations
- Administrative Company Restoration
- Corporate Health Check
- Registered Office and Registered Agent
Service 02
Contentious Structures
Probate & Estate Fraud
Together with our associated company, UHY Crossleys LLC, we have experience in dealing with contested probate and family matters, including elder financial abuse.
We can help you:
- Understand what has or may have taken place
- Collate the relevant facts and evidence
- Piece together the story of events
- Put together a suitable briefing paper with supporting documentation to present to your legal advisers so they can provide you with a fully informed legal opinion.
We adopt a practical approach and seek to make what often seems complicated easy to understand.
Contentious Structures
Litigation is never pleasant, whether you are the instigator or recipient of such action. Having the right support is vital and being able to understand and communicate with those advising you is just as important to understanding what is needed, when and by whom.
Odin Fiduciaries Limited has proven to be adept and successful in the “Project Management” of litigation for clients in the Isle of Man, UK and further afield. Whether the dispute involves the purchase and sale of companies and land, breaches of company law, commercial contracts, individual, family and matrimonial disputes, Wills and Trusts, Odin Fiduciaries Limited will be there to support you and your team.
Historic Remediation Projects
Over recent years, we have identified increasing issues within some offshore providers. As an example:
- Structures correctly implemented but have excessive running costs despite not being adequately maintained
- Changes to international tax legislation have been ignored which then impacts the effectiveness of the structure.
- Errors in the appointment of beneficiaries
- Not considering Protector provisions within Trust Deeds leading to invalid historic appointments
- Lack of adequate corporate governance on international companies which subsequently lead to them being struck off
Odin Fiduciaries Limited is experienced in assisting and/or project managing the remediation of large offshore complex structures involving trusts, foundations and companies. This may include an ultimate strategy to close a structure or aspects of it and modify as required.
Services we can provide include:
- Collaborating with international tax advisors, lawyers and accountants to ensure a cohesive approach to remedy historic issues.
- Implementing changes required to reduce or remediate historic and current tax issues
- Dealing with relevant tax authorities in collaboration with specialist advisors
- Litigation support
- Better accountability and service to the “client” and beneficiaries
Service 03
Accounting
We are able to offer a full range of accounting, audit, and Isle of Man tax consulting services via our associated company, UHY Crossleys LLC.
Our private client services include:
- Management and Financial Accounting
- Periodic Reporting
- Cashflow and Budget forecasting
- Isle of Man Tax compliance
- VAT returns
- Payroll services
Speak to a director.
Tell us what you are trying to achieve. We will tell you honestly whether we can help.