This is an extremely flexible and useful tax planning tool which allows you to stay in control of your assets and investment decisions and management.
A Member establishes an Onshore Fiduciary Management Company (FMC) and then the Member (and anyone else they wish) is a Director and Shareholder of the FMC. It provides fiduciary fund management services to an Offshore Trust via a Fiduciary Services Agreement.
A Fiduciary Management Company (FMC) is a company which is permitted, by agreement and law with the individual Trust Trustee(s), to hold, use and receive FMC funds exclusively for the Trust only.
Section 6 (1) Corporation Tax Act 2009 declares unequivocally that … “a company which is acting in a fiduciary capacity shall not be chargeable to corporation tax on profits arising to it in a fiduciary or representative capacity”.
So all FMC’s profits and receipts are tax exempt by statute.
An FMC is an extremely valuable tools especially for pension and Family Wealth Trusts, although not exclusive to those Trusts
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