“Advocate for International Business”
“The Swiss Trust Company Owner”
by Jeffrey H. Corbett
Frequently Asked Questions:
1) Why own a Swiss Trust Company?
Most clients obtain ownership of a Swiss Trust Company for one of several strategic reasons which are described below. It is, of course, imperative to stipulate that Swiss Trust Companies are not tax shelters.
- Asset Protection: Protect your personal or corporate wealth.
- Profit: Establish a flagship Non-Banking Financial Entity.
- Privacy: Protect yourself from identity theft.
- Gain Control: Bring critical functions in-house.
- Monetize Assets: Raise working capital.
- Exit Strategy: Roll existing business into and then list on exchange.
2) Do Swiss Trust Companies come with a SWIFT membership?
No. And if anyone suggests otherwise that should be a red flag to you. You can certainly apply for membership as a new owner but there will be no guarantee of acceptance. Frankly, the Trust Company, with quality administration, will work perfectly fine on its own.
3) Are there any tax benefits?
This is not a tax shelter. Corporate tax can be structured to be minimized in Switzerland but worldwide income tax is becoming the norm, therefore, profits will likely pass through to your personal obligations. We would always suggest that you consult with your professional adviser.
4) What is the legal basis for a Swiss Trust Company?
A common mistake is to look at Swiss Trust Companies through an Anglo-American perspective which often causes confusion. Switzerland has a long history of fiduciary agreements and the companies which manage those covenants. A Swiss Trust Company, therefore, is an entity mainly serving as a trustee and regulated by Swiss tax law. Your business plan should always be vetted by a professional prior to implementation.
Monthly Featured Video:
Conferences which you may want to place on calendar:
– European Captive Insurance Forum
November 11-12, 2014 (Luxembourg) Please Click Here
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Did You Know?
Quote of the Month: “Many great nations taxed themselves to death; conversely, many nations became great because of the right kind of taxation, taxation that stimulated growth and enterprise.” – Charles Adams, author of “For Good & Evil, The Impact of Taxes on the Course of Civilization.”
Why own a Captive Insurance Company? Captive Insurance Companies are formed primarily because of the owner’s ability to lower insurance costs, create greater cash flow, broaden forms of coverage and establish higher limits of insurance. Bottom line: cut costs and control of cash flow.
Global Etiquette: When arranging business engagements, be aware of differences in the concept of timeliness. Latin America, Africa and Central Europe tend to be regions that are much more flexible than the Unites States or England. It is not uncommon for someone to be an hour later than scheduled for a meeting. If you are upset by this, you will likely offend them.
Travel Warnings & Information:
If you are the type of business owner who likes to have total control over every aspect of your business then we have a line of products and services for you!