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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

Simcocks Advocates have worked closely with IQE on both real estate and other private and commercial transactions over a number of years, and from our experience, IQE always strive to deliver the highest standards of service to both private and corporate clients alike. Their attention to detail, strong work ethic and listed corporate governance experience set them apart from other service providers. Phil Games, CEO, Simcocks Advocates Limited

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