Private Client Services
In a world of ever-increasing complexity, geographically dispersed families, and diverse assets, an effective and comprehensive succession plan is essential; a plan that considers your family, and not just your wealth.
When your assets and business interests are complex, valuable and spread across borders, or your family are living, studying or working abroad, we can help protect your family and your interests with flexible and robust structures and bespoke estate and succession planning.
Our approach
We know that every family views the purpose of wealth differently according to their values, lifestyle, experiences, and the legacy they want to leave behind. For this reason, every structure we establish – whether it is entrepreneurial in nature or intended to provide an enduring family legacy – is meticulously tailored and carefully planned, based on your unique needs and circumstances.
Whether your aim is to grow, protect, pass on wealth during your lifetime, or preserve your wealth for future generations, our expert team will work with you to ensure that the right framework is in place to enable your goals and ambitions; providing stability and continuity so that the benefits can be enjoyed across generations.
Our services
Our unique offering and geographic footprint have made us the trust company of choice for many UK residents, sub-Saharan, and Middle Eastern families with ties to the African continent. We administer a variety of assets, from private company shares and real estate, to luxury assets and complex investment portfolios, through structures such as:
- Discretionary trusts
- Reserved powers trusts
- Foundations
- Private trust companies
- Holding companies
- Family investment companies
Being a bank-owned trust company means that you benefit from the committed backing and capital of the Standard Bank Group, as well as its robust IT infrastructure, data security, and established risk and governance frameworks. At the same time, we operate as an independently-minded business, using the whole of the market to bank and invest assets.
Management and Administration
We provide professional trustee, qualified council member and director services, as well as company secretarial services. We have decades of experience managing and administering a wide range of assets, including:
- Investment portfolios
- Residential and commercial property
- Private equity
- Private company shares
- Luxury assets
- Complex investment portfolios
Our team comprises highly qualified and experienced staff, who hold professional qualifications in trust, law, accountancy, banking, investment, and business, so you can rest assured that the right support structure is in place to help protect your family’s wealth.
Accounting and Reporting
We provide full accounting services for the structures we administer, using industry-leading technology that allows for straight-through-processing for bank transfers, fee sweep collections, and automated bank statement reconciliations where accounts are held with Standard Bank Jersey Limited or Standard Bank Isle of Man Limited. We can also provide bespoke reporting according to the tax period relevant to your jurisdiction.
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Our approach
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Our services
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Management and Administration
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Accounting and Reporting
We know that every family views the purpose of wealth differently according to their values, lifestyle, experiences, and the legacy they want to leave behind. For this reason, every structure we establish – whether it is entrepreneurial in nature or intended to provide an enduring family legacy – is meticulously tailored and carefully planned, based on your unique needs and circumstances.
Whether your aim is to grow, protect, pass on wealth during your lifetime, or preserve your wealth for future generations, our expert team will work with you to ensure that the right framework is in place to enable your goals and ambitions; providing stability and continuity so that the benefits can be enjoyed across generations.
Our unique offering and geographic footprint have made us the trust company of choice for many UK residents, sub-Saharan, and Middle Eastern families with ties to the African continent. We administer a variety of assets, from private company shares and real estate, to luxury assets and complex investment portfolios, through structures such as:
- Discretionary trusts
- Reserved powers trusts
- Foundations
- Private trust companies
- Holding companies
- Family investment companies
Being a bank-owned trust company means that you benefit from the committed backing and capital of the Standard Bank Group, as well as its robust IT infrastructure, data security, and established risk and governance frameworks. At the same time, we operate as an independently-minded business, using the whole of the market to bank and invest assets.
We provide professional trustee, qualified council member and director services, as well as company secretarial services. We have decades of experience managing and administering a wide range of assets, including:
- Investment portfolios
- Residential and commercial property
- Private equity
- Private company shares
- Luxury assets
- Complex investment portfolios
Our team comprises highly qualified and experienced staff, who hold professional qualifications in trust, law, accountancy, banking, investment, and business, so you can rest assured that the right support structure is in place to help protect your family’s wealth.
We provide full accounting services for the structures we administer, using industry-leading technology that allows for straight-through-processing for bank transfers, fee sweep collections, and automated bank statement reconciliations where accounts are held with Standard Bank Jersey Limited or Standard Bank Isle of Man Limited. We can also provide bespoke reporting according to the tax period relevant to your jurisdiction.
Why establish an offshore trust?
An offshore trust can provide you with a flexible framework that enables you to implement estate and succession planning for your wealth. Families establish trusts for different reasons, including:
Wealth preservation:
A trust allows its beneficiaries to enjoy family wealth without the need to divide assets or transfer ownership to different branches of the family, thereby preserving the wealth and ensuring asset classes remain intact for future generations to enjoy. This is especially helpful where the type of asset is not easily divided, or may lose value if it is divided, for example a property or a family business.
Succession planning:
Trusts are an invaluable and flexible succession planning vehicle which is widely used both on and offshore. A trust can adapt to the uncertainty of the future and evolve over time in line with a family’s changing needs. This ensures a timelessness to a family’s estate and succession plan, and means that wealth is passed between generations in a controlled and considered manner.
Asset protection:
Ensuring that assets are segregated from a person’s personal estate shields the assets and protects them from other risks that the future may bring. Such risks may include claims from future creditors, the potential dissipation of wealth by a future generation, political and economic instability, or family disputes.
Philanthropy:
Offshore trusts can be a highly effective tool for philanthropic purposes, bringing a family together over shared values and vision, and building a meaningful legacy for the family beyond the first generation’s lifetime.
An offshore structure can be established and managed in a jurisdiction such as Jersey or Mauritius, usually selected for its economic and political stability, established legislation and judicial certainty, strong governance, and neutral tax treatment.
We offer a flexible combination of both jurisdictions, and can tailor a solution that incorporates the right benefits of each to meet your family’s specific needs and requirements.
FAQs
What is a trust?
A trust is a legal arrangement designed to secure your assets and to provide flexibility on how they are distributed, either during or after your lifetime. A trust is an effective way of transferring internationally held interests to your beneficiaries as part of your succession planning. In a trust, assets are held and managed by a trustee for the benefit of one or more beneficiaries.
What is a discretionary trust?
A discretionary trust is a trust where the trustee has the discretion to distribute assets to the trust beneficiaries in accordance with the provisions of the trust deed, taking into consideration the settlor’s stated wishes. Beneficiaries do not have a vested right to the trust assets and the trustee has the flexibility to distribute assets as and when it is needed, in the best interests of the beneficiaries. It allows for changing circumstances and needs and provides the potential for the wealth to benefit generations to come.
What is a reserved powers trust?
A reserved powers trust allows a third party, for example the settlor, to retain certain powers in relation to the trust. These powers may deal with many aspects of the trust, ranging from how the trust's assets are invested, to who may benefit from the trust and in what circumstances.
A reserved powers trust can be an effective solution for settlors who wish to retain some level of involvement with the trust; however, care should be taken to ensure that the reservation of power does not result in adverse tax consequences in the power holder’s local jurisdiction.
What is a Private Trust Company?
A Private Trust Company (PTC) is a company incorporated purely for the purposes of acting as trustee of a particular trust or group of trusts. The PTC is appointed as the trustee of the family trust and, subject to detailed legal and tax advice, individual family members may act as directors of the trustee. This means that they may sit on the board of the PTC and make trustee decisions in relation to any underlying trusts. A PTC is also very portable as, should a family wish to change offshore provider, they will not need to appoint a new trustee, but merely appoint new directors and/or a new administrator.
What is the difference between a trust and a foundation?
While both trusts and foundations are ‘orphaned’ structures, without direct ownership, and are often used to preserve assets for future generations, there are several differences between a trust and a foundation. One of the main differences is that a trust is governed by a trustee, which, in the offshore industry, is usually a regulated professional trust company. A foundation, on the other hand, is governed by a council which can consist of persons other than a regulated trust company, although the council is required to have one qualified member which must be a regulated company.
Another important difference is that trusts are not legal entities and are therefore not registered with the registrar and the trust deed remains a private document. In contrast, foundations as a legal entity are subject to registration with the registry and certain public disclosure requirements, with certain information publicly available on the jurisdiction's register. While both offer advantages, the choice between trusts and foundations depends on the specific needs, preferences, and objectives of individuals or entities seeking wealth management solutions.
Download Factsheets below:
Jersey Trusts factsheet
Jersey Trusts Foundation factsheet
We also offer
Corporate services
Together with trusted advisors, we develop, implement and manage vehicles to support your corporate strategy. Whether you are looking to expand your business into new markets or invest back into your home market, we can help you achieve your strategic goals.
Family Office Services
We understand that a legacy is about more than wealth. It is about family, purpose, unity, and a better future. Partner with us to build and preserve your family’s legacy for generations to come.
WHAT’S HAPPENING
New Hires
19 Apr 2024
Standard Bank appoints Jaco Van Jaarsveld, as Head of Fiduciary Services in Mauritius
Standard Bank is delighted to announce the appointment of Jaco Van Jaarsveld as the new Head of Fiduciary Services in Mauritius.
Award wins
26 Mar 2024
Nitrisha Doorasamy wins silver in the Citywealth Powerwomen Awards
Standard Bank is proud to announce that Nitrisha Doorasamy, a key member of our Offshore Fiduciary Services team, has been honoured with the silver award in the Citywealth Powerwomen Awards 2024. The award in the ‘Woman of the Year – Career Initiative’ category was announced on 6 March 2024, affirming Nitrisha's position as an influential figure in the wealth management sector.
New Hires
25 Mar 2024
Standard Bank welcomes
Alex Zomparelli as Senior Trust Relationship Manager
Alex Zomparelli as Senior Trust Relationship Manager
Standard Bank is proud to announce the appointment of Alex Zomparelli as a Senior Trust Relationship Manager within its International Fiduciary Services team in Jersey. Alex’s appointment will further strengthen the award-winning trust team.
Award wins
1 Feb 2024
Standard Bank takes silver at Citywealth IFC Awards
We are delighted to announce that Standard Bank has won silver in the Citywealth International Financial Centre Awards 2024 in the Trust Company of the Year - Jersey category. These Awards celebrate excellence in the private wealth sector, shining a spotlight on companies and individuals who have displayed outstanding commitment to delivering exceptional client service and innovation.
8 Dec 2023
Trust Company of the Year shortlisting for Standard Bank
We are delighted to announce that Standard Bank’s International Fiduciary Services team has been shortlisted as Trust Company of the Year in the 2024 Citywealth Magic Circle Awards.
Award wins
5 Dec 2023
Top Trust Company recognition for Standard Bank
Standard Bank’s International Fiduciary Services team has once again been named in the eprivateclient Top Trust Companies list.
28 Nov 2023
Standard Bank Supports Jersey's Homeless: A Night Under the Stars
In the depth of November, amidst the chill of the night, Standard Bank Chief Executive and Island Head for Standard Bank Jersey, Charles Molteno, spent a night in the open with members of the local community for ‘Sleep Out for Sanctuary Trust’; an annual fundraising event which aims to raise awareness and funds for homeless men in Jersey’s community.
Award wins
17 Nov 2023
Standard Bank celebrates double win at Citywealth Awards
Two of Standard Bank’s fiduciary services professionals have been recognised at the Citywealth 2023 Future Leaders Awards. Anna-Marie Egré won the Trust Officer of the Year Award, and Sanmari Crous won the Future Leader Initiative Award.
News
5 Jul 2021
Top considerations when moving your money offshore
Erik Olwagen, International Personal Banking, Head: South Africa Distribution, Standard Bank .
Learn more about Fiduciary Services
Estate & Succession Planning
10 Nov 2023
African generational tensions regarding the transfer of wealth
As directors of trust companies forming part of Africa’s largest bank by assets, with a presence in 19 African countries, it is fair for us to say that we have significant experience implementing estate and succession plans for families with African connections. Whilst we absolutely acknowledge that each family is unique, as are their estate and succession planning needs, we do still see threads of commonality when we are approached by families wishing to establish fiduciary structures.
Estate & Succession Planning
11 Oct 2023
Robust philanthropy regulation enables effective giving
It might come as a surprise to some that family foundations give 10 times more in charitable donations than corporate foundations. According to a report by the Association of Charitable Foundations, family foundations gave £2.3 billion in 2020–21 compared to the £239 million from corporate foundations.
Estate & Succession Planning
8 Sep 2023
More than money and assets: what makes an effective succession plan
“The special challenges of the Rich come from the inordinate freedom granted by the wealth, the surplus of resources beyond ordinary human needs, and the ability to manage the world around them in ways not possible to others.” 1
Estate & Succession Planning
24 Jul 2023
A cautionary tale on the role of the protector
The story of the X-trust is worth sharing. It started like any other story about a trust with a protector. The late settlor, Ms Goodness, with sound intentions appointed a protector to the discretionary trust that she settled. The protector, an accountant by profession that was well known to her, called Rudy, was an Australian resident. Ms Goodness did not have any children, and the beneficiaries of the trust as per the trust instrument were her nephews and nieces. Her desire for her nephews and nieces to benefit was also expressed in her letter of wishes that the trustee held on record.
Estate & Succession Planning
21 Jun 2023
Offshore Trusts: Preserving family wealth and building a family legacy
In an era of global connectivity and expanding investment opportunities, high net-worth families are increasingly considering offshore trusts to preserve their wealth and ensure a legacy for their future generations, writes Standard Bank International Fiduciary Services’ Nitrisha Doorasamy.
Estate & Succession Planning
28 Feb 2023
Decisions, decisions!
People sometimes joke that trustees are scared to make decisions and, as absurd as this may sound, many a truth is spoken in jest. The reality is that, on a daily basis, a trustee will make a myriad of informed decisions which may at some point in the future be challenged, no matter how innocuous or trivial they may seem at the time the decision is made.
Estate & Succession Planning
11 Apr 2023
Put your seatbelts on: Simple planning techniques to help avoid future conflict
No one sets out on a car journey with the intention of crashing, and yet everyone puts on their seat belt before setting out. It pays to be prudent and so why would one take unnecessary risks if they can be easily avoided? This is as true in everyday life as it is in business, and even more so when establishing a trust structure that needs to contend with family dynamics, cross-border planning, and complex asset classes.
Estate & Succession Planning
2 Dec 2022
ESG Investing and trusts
There is no denying that ESG investing is a global trend. It is widely accepted that trustees are increasingly being asked to consider ESG-centric investments by the next generation of beneficiaries, while Forbes recently reported that flows into ESG funds doubled from 2020 to 2021.