CEO of Simcocks Advocates and Director of its subsidiary, Juristrust, Phil Games discusses the potential pitfalls of an individual acting as protector on a trust and the benefits of appointing a corporate protector.
Isle of ManCorporate/Commercial Law
CEO of Simcocks Advocates and Director of its subsidiary,
Juristrust, Phil Games discusses the potential pitfalls of an
individual acting as protector on a trust and the benefits of
appointing a corporate protector.
The Transparency Regulations
The Common Reporting Standard (CRS) was
developed by the Organisation for Economic Cooperation and
Development (OECD) to facilitate the automatic exchange of information, thereby
replacing the previous model of information exchange upon request
as the globally prevalent standard. Financial institutions and
trustees of trusts which are classified as Reporting Financial
Institutions must report financial information with respect to
reportable accounts and account holders to the local tax
authorities.
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