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Foundations

Posted on in IQE Isle of Man

Tynwald this week announced that it has received Royal Assent for new legislation in the form of The Foundations Act. Foundations are an interesting alternative to trusts particularly for clients in civil law jurisdictions to whom the trust concept is not as familiar.
Whilst a Foundation has many features of a trust it also has a corporate feel to it in that it has a legal personality of its own and can therefore hold assets in its own name, unlike a trust.
Welcoming the announcement IQE Managing Director David Karran commented,
The Isle of Man has to remain dynamic, forward thinking and flexible and the Foundations Act is a welcome piece of legislation that will facilitate new business opportunities.

We have the expertise to assist with multi-jurisdictional fiduciary services for international structures

As Chairman of a substantial private equity backed company invested in Indian residential property located in 7 major cities, I worked with IQE for 7 years. IQE provided administration services including the provision of a professionally qualified chartered secretary and I found them to be always professional, responsive and knowledgeable. The long term relationship reflected our confidence in their reliable services and proactive attitude. I would happily recommend IQE to others requiring their services. Neil Everitt, Chairman, S.A.R.E. Group

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