We are an independent global specialist in the administration of traditional funds and alternative assets with a particular specialism in private equity and real estate.
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We can support your fund through its entire lifecycle and the growth of your business. We provide a comprehensive range of private equity solutions delivered from key onshore and offshore jurisdictions to leading companies investing in a broad range of industries.
Our Fund Services Division has a proven track record in providing a broad range of fund services where the asset class is real estate.
JTC’s strong track record in operating at the leading edge of alternative asset classes continues with its innovative and market-leading capabilities in the emerging sphere of cryptocurrencies.
JTC Fund Services can offer a fully AIFMD-compliant ManCo service. The activities of the ManCo include providing a portfolio management, risk management and oversight function.
We have a deep understanding of listing funds on internationally recognised stock exchanges and the ongoing regulatory requirements of administering listed funds.
As a truly independent fund administrator you can be reassured that your fund administration requirements are entrusted to people that care about your investment structures.
We will project manage your application and guide you through the process and co-ordinate the various advisors to assist with the fund launch and strive to ensure everything happens within the expected timescales.
We offer a transparent, proactively managed range of cash management, foreign exchange and lending services, supported by a dedicated team of experienced professionals.
JTC Corporate Services provides a comprehensive range of corporate and fund services from key onshore and offshore jurisdictions to leading companies in their field of expertise.
We provide corporate finance services for corporate and institutional clients including debt capital solutions, treasury and escrow services.
We provide employee benefit structures, administration services to ensure employees get maximum value from the plans that organisations put in place.
Global experience in this dynamic asset class, spanning our corporate, funds and private client divisions.
JTC Private Wealth Services specialises in protecting and nurturing your private capital in real estate, financial and non-financial assets across countries and generations.
Superior service delivered by industry leading experts for private individuals, entrepreneurs and their families.
We provide a tailored range of private office solutions that work effectively for each family, from generation to generation.
We are able to partner with corporate and institutional wealth providers to complement their service offering by providing trust and company services.
In an age of truly international mobility, we also offer market-leading citizenship-and-residency-by-investment solutions via a strategic alliance with market-leading provider Henley & Partners.
JTC has extensive cross-jurisdictional experience and expertise in working with institutional and private clients in Africa, Americas, Asia, Australasia, Caribbean, Channel Islands, Europe, Middle East, Russia & CIS and the United Kingdom.
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15 Sep 2017
Date: 26 October 2017
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We are JTC, an independent, award-winning provider of fund, corporate and private wealth services to institutional and private clients.
We value shared ownership, we put relationships first, we invest in our people, we embrace technology. We are JTC.
To build partnerships with our clients that enable them to focus on their core business.
We live and breathe our values and together they form our unique culture and JTC DNA.
JTC’s shared ownership philosophy extends to the communities where we live and work.
Established in 1987, we are proud of our history and excited about our future.
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We want everyone, wherever they work in the JTC network, to be able to develop the skills and knowledge that they need to be excellent in our world and we deliver this to our team through the JTC Academy.
JTC Gateway offers our people the opportunity to develop their careers by working in Group locations across the world.
JTC is committed to the policy of equal treatment of all its employees and requires all employees of whatever grade or authority, to abide by and aspire to this general principle.
We have a highly qualified and multilingual workforce. In 1998 we created the JTC Employee Benefit Trust, which turned our employees into stakeholders. This enables us to attract and retain the best people, whilst keeping them absolutely motivated and dedicated to our clients.
In 2014 this belief in share ownership was embedded further into the JTC culture with the equity for all scheme, allowing all permanent members of staff the opportunity to invest in the future of their company. That helps explain why they are so dedicated and care so much about their client’s work.
Our shared ownership culture benefits our clients.
JTC is an international organisation with global reach and true cross border capability. We are proud of our ability to provide the best solutions for clients irrespective of geography.
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The flexibility and benefits of discretionary trusts are well known, but the responsibility of the trustees to manage the assets as a ‘prudent man of business’, with the need to protect the trust assets, can make trustees risk-averse and restrict the type of investments that might be considered. Many assets that potential settlor’s wish to place in trust, such as the shares in a family business or more speculative opportunities, may no longer fall under the conventional asset category that trustees are willing to accept.
In 2003, the British Virgin Islands (BVI) introduced the Virgin Islands Special Trust Act (VISTA). This act created a new type of trust, the VISTA Trust, which seeks to overcome some of the obstacles of traditional trusts in the areas of management of underlying companies and succession planning. In particular, it is designed to meet the growing international need for a satisfactory legal mechanism to facilitate the succession planning of family corporate businesses, without stifling the family investment aspirations.
Section 3 of VISTA enables the trust to directly hold BVI company shares, which may be retained indefinitely. It also allows for management of the company to be carried out by its directors without any power of intervention being exercised by the trustee (save for circumstances where the trustee is expected to act on ‘intervention calls’).
In 2013, VISTA was amended to provide even greater flexibility. VISTA trusts can now have more than one trustee, but at least one must be a BVI licensed trust company or a BVI private trust company. Like all BVI trusts, VISTA trusts are exempt from local registration requirements and all local taxes, as long as the beneficiaries are not resident in the BVI.
It is important to note that in order to benefit from the VISTA Trust, the assets must be held via at least one underlying BVI company. The trustees will not control and manage the underlying BVI company and its assets. This responsibility will rest with the directors of the BVI company, who are often members of the client family or their business management team, and who take full responsibility for the management of the assets without reference to the trustees.
The settlor may wish to place the shares of his family business in trust or other investments that a traditional trustee would view as speculative or high risk. The traditional trustee would naturally look to reduce the risk by diversifying the holdings of the trust, but with a VISTA Trust this would not be the case. Whilst it separates legal and beneficial ownership, the VISTA Trust does allow the settlor far greater influence over the investment of the trust assets without the interference of the trustees. The VISTA Trust may hold investments deemed to be more speculative or high risk by the underlying BVI company and still afford the family succession planning benefits traditionally associated with trusts.
This publication is intended to provide an overview of the subject matter and is not comprehensive in nature or to be construed as legal or tax advice. We recommend that clients seek professional advice on any particular matter.
Michelle Le Herissier
Managing Director - BVI
Group Head of Private Wealth Services
The entities within JTC Group, carrying on the regulated business of JTC Group, are duly regulated as appropriate by the British Virgin Islands Financial Services Commission; the Cayman Islands Monetary Authority; the Guernsey Financial Services Commission; the Jersey Financial Services Commission; the Commission de Surveillance du Secteur Financier and the Ordre des Experts-Comptables in Luxembourg; the Malta Financial Services Authority; the Financial Services Commission in Mauritius; is licensed by De Nederlandsche Bank in the Netherlands; the South African Financial Services Board as an authorised financial services provider; is chartered and regulated to provide trust services by the South Dakota Division of Banking in South Dakota (USA); as a member of l’Association Romande des Intermédiaires Financiers in Switzerland; and is authorised and regulated by the Financial Conduct Authority in the UK.
L’Association Romande d’Intermédiaires Financiers (ARIF) is a self-regulated agency approved by the Swiss Financial Market Supervisory Authority (FINMA) for the supervision of financial intermediaries referred to in Article 2 para.3 of the Swiss Federal Act concerning the fight against money laundering and terrorist financing in the financial sector (LBA). ARIF is also recognised by FINMA as a professional organisation for the enactment of rules of conduct relating to the exercise of the profession of independent managers within the meaning of the Collective Investment Schemes Act (CISA).
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