Families with global interests require customized solutions. Capital Trustees has a long history in servicing international clients, responding to complex estate planning needs with a multilingual team of tax and legal experts, which are backed by a trusted network of specialists in major financial centres.
Our final goal is to support all family members in their relocation plans and ensure the achievement of long-term planning targets, allowing for easy and flexible wealth transfer across families’ generations.
If properly structured, relocation can be a source of opportunities for our clients and their families. In fact, the allocation of part of the assets to trust, prior to the transfer of residence to a foreign country, can achieve several advantages. Establishing a pre-immigration trust before moving to Switzerland allows foreign settlors to improve the structure of their family’s estate while achieving fiscal optimization.
We have worked on relocation plans involving persons coming from all over the world; nonetheless, we matured a special expertise with those from US, LATAM and Middle East regions.
An American expat family in Switzerland, a U.S. person married to a Swiss citizen, and a non-US resident investing in the United States will need tailored estate plans preventing adverse consequences under US tax perspectives. Tailoring proper solutions will require a deep understanding of relevant estate/succession/gift/generation-skipping transfer tax laws in each of the jurisdictions factoring in the distribution of property prior to and upon death.
We assist our clients in analysing potential tax implications and implementing estate-planning structures like foreign grantor and non-grantor trusts.
With dedicated Latin America specialists, clients will benefit from our extensive experience in facilitating successful international business ventures.
Latin-American clients will have access to our network and expertise within Switzerland and Europe, while our specialized knowledge of local Latin-American markets and their legal systems enables us to support those individuals who also seek to invest in the region.
MIDDLE EAST EXPERTISE
Capital Trustees continuously monitors socio-economic dynamics, together with changes in the political and regulatory framework affecting the Middle East region. Thanks to its team of experts and an established network of local partners, the firm can provide customised assistance both to individuals who are interested in relocating or setting-up a business in Switzerland, and to those who seek to invest in the region.
Capital Trustees’ has implemented a platform specialised in providing tailor-made assistance to private clients and their families. The aim of this offer is to help individuals in setting clear financial objectives with an efficient, structured and comprehensive approach reflecting the family’s needs. Capital Trustees’ team has a strong background in nurturing family wealth and legacies, and will be able to assist in the set-up of family offices and in the developed of family governance plans through carefully drafted wealth structuring solutions.
In particular, private clients and their families will be able to access the following services:
• Planning for generational transfer
• Design of family governance, including support in shareholders family meetings and family board meetings
• Support in private equity and venture capital investments
• Access to club dealing opportunities through Capital Trustees’ network
• Set-up and management of charitable family projects
• Advise on family tax planning
• Management of family’s real estate
Capital Trustees’ platform also assists clients in the investment portfolio consolidation process, monitoring the assets independently of their type, degree of liquidity or physical location.
Such an efficient supervision of performance allows for a global and centralised view of all existing relationships and investment dynamics, with the final aim to achieve optimal asset allocation, risk control and cost management.
Clients will have access to customizable and periodical multi asset class reports to ease their decisions during financial planning. Additional information on individual transactions will also provide clear overview of variation across asset classes, producing performance indicators that will factor elements such as taxation.
Access to client’s personal information can be agreed on a case-by-case basis according to the level of confidentiality and transparency intended to be provided to financial institutions for this service.
If requested, mobile applications can be set-up and used in encrypted and secure mode
Our corporate division is composed by internationally qualified tax and legal experts with a strong background in corporate structuring across multiple jurisdictions and a deep knowledge of the Swiss regulatory framework. The firm will be able to provide assistance both in the design and set-up of complex corporate structures and in the following management and administration processes, supporting clients in these areas:
Solid settlement and maintenance of accounting is a key activity for both long established companies and newly founded ones. Capital Trustees’ helps clients in focusing on their business by providing:
• Preparation of annual financial and income statements
• Balance sheet and cash flow analysis
• Accounting consulting (planning, development and management)
• Bookkeeping set up and monitoring
• Accounts receivable and payable
• Budgeting and liquidity plans
• Payroll accounting
• Quotation for new businesses and business development plans
• Filing of VAT returns
Payroll accounting is a complex and time-consuming activity, which can be particularly burdensome for small and medium enterprises that lack resources or technical knowledge to manage employee and payroll data. Outsourcing payroll accounting and HR management can be an optimal solution for businesses and private clients. These are the services Capital Trustees can provide:
• Drafting of employment contracts and preparation of documentation for working permits
• Managing payroll accounting
• Preparing monthly pay slips, pay certificates, and annual wage statements
• Providing general personnel administration
• Advising on income tax and social security
• Liaising with social security offices and other authorities
• Managing social insurance
Switzerland is a prosperous and favourable environment both for the establishment of new businesses and for the relocation of standing companies. In fact, many firms every year decide to take this step, which needs appropriate guidance and advise due to the fulfilments required by local authorities.
You can rely on Capital Trustees for all the duties and necessary steps of this process, thanks to its acquired knowledge in the field, advisors will guide clients easily through all the legal and administrative requirements, with special attention towards:
• Assessing the feasibility of projects and advising on tax and legal optimization
• Advising the best legal form for companies
• Incorporating the company and providing it with domiciliation
• Maintaining of corporate records
• Opening and managing of bank accounts
• Ensuring compliance with company law and regulatory requirements
• Providing continuous monitoring
Domiciling a company in a city of choice can provide numerous advantages. In particular, favourable tax conditions in specific cantons might be available and could allow a business to optimise the tax burden and focus on its growth plan, especially in a launching phase.
Capital Trustees can provide prestigious domiciliation services in both Zürich and Lugano, improving the company’s presence and providing meeting rooms to facilitate communication with clients.
In particular, the firm can provide assistance in the following functions:
• Advising on the best location for the domiciliation of companies
• Providing domiciliation services and registration with the commercial register
• Managing correspondence (physical, automatic, or electronic post forwarding and post storage)
COMPANY MANDATES FOR MANAGEMENT
Swiss companies require to be represented by at least one person who is a Swiss resident and will act as director. Capital trustees provides its clients with high stand mandate services and its professionals are well accustomed with the duties of fiduciary and management mandates, tailoring the firm’s offer to specific needs, comprising:
• Tax advisory services
• Accounting services
• Liaising with banks
• Communicating with relevant authorities
Capital Trustees has an extensive experience in providing a broad range of fully tailored and integrated tax services. Tax specialists qualified in multiple jurisdictions support and represent companies and individuals in all tax issues, ensuring compliance with local regulations and reporting requirements.
CORPORATE TAX ADVISORY
The firm offers tax planning and execution of the proposed structures, representing clients before tax authorities and taking care of the preparation and the filing of tax returns.
In particular, Capital Trustees is active in the assistance as VAT tax representative of companies based in Switzerland and foreign companies that carry out their activities in favour of clients domiciled in Switzerland. The firm has also organized a specific internal division designed to offer business consultancy to solve the complexities associated with the management of customs and logistics issues related to the exchange and circulation of goods and services in the domestic and cross-border sectors.
Capital Trustees will gladly support businesses with:
• Fiscal representation in Switzerland
• Registration of VAT with Swiss authorities
• Advice on tax and VAT liability in Switzerland
• Opening of customs accounts
• Periodic VAT returns
• All communication with tax authorities
• Business reorganisations, cross-border businesses, buying and selling of businesses
• Filing of tax forms and declarations
• Filing for tax returns
• Assistance during voluntary audits, due diligence and controls by the AFC and the AFD;
• Keeping accounts, closing and preparing periodic reports
PERSONAL TAX ADVISORY
The team can provide advice and guidance on all aspects of individual’s fiscal issues as well as ensuring tax returns are accurate and filed timely, advising on tax payments due, and reviewing information on personal taxes every year. In particular, it can assist with:
• Tax returns
• Inheritance/estate inventories and tax planning
• Fiscal representation and liaising with competent authorities
• Relocation and residence permits
• lump-sum taxation and negotiations with the authorities
• VAT and customs formalities for personal properties (such as vehicles)
• Advice on the application of double tax treaties
• Retirement planning and tax advice for pension planning
• Creation of complex and comprehensive wealth planning structures (trusts, foundations, etc.)
As part of the domestic tax services, the firm can assist in the recognition of a Swiss domicile by the Swiss and foreign tax authorities and negotiate the conditions for the application of the lump-sum taxation in Switzerland with the competent tax authorities.
Switzerland has always been a competitive player on the international financial market. Nowadays, it is keeping up with the rapid and profound changes of increasingly interconnected global regulatory frameworks.
In response to these new challenges, the Federal Council reacted promptly through the signing of bilateral agreements with partner states and the EU aimed at recognizing the equivalence of Swiss financial market legislation. It then enhanced its efforts to ensure international tax and money laundering compliance, while laying the foundations for adapting its domestic legislation in various fields, including the protection of personal data and the regulation of financial institutions.
The challenge for Swiss financial operators, including banks, trustees, independent asset managers (GPI), family offices and other intermediaries, is therefore to comply with this dynamic and complex reality, adapting effectively to new local and international laws.
Capital Trustees, thanks to its team of specialists with many years of experience in financial and compliance consulting, is able to provide its clients with a range of services ranging from compliance analysis for corporate and individual use, to the drafting of rules of conduct and internal procedures.
The firm’s approach focuses on:
• The fight against money laundering (LRD);
• The Foreign Account Tax Compliance Act (FATCA);
• Automatic exchange of information on tax matters (LSAI);
• Data protection regulations – General Data Protection Regulation (GDPR);
• The Federal Law on Financial Institutions (LIFIN)
For each of these areas, Capital Trustees can offer specialized advice on specific topics, or design and implement proven operative models with its clients. The Client is assisted in the process of hierarchizing customers and contractual relationships based on risk, and he is supported in the periodic monitoring of relations and related transactions, as well as having the necessary tools to identify any legal or reputational risk situations. On these matters, the firm can provide specific personnel training, while also supporting the staff in annual certifications and periodic reviews carried out by regulatory bodies.
With regards to the automatic exchange of information (FATCA/CRS), thanks to its experience gained in European and non-European jurisdictions, the firm can assist its clients in the classification process of managed structures, with the aim of collecting and making available the data for the implementation of the automatic exchange of information, also providing them with sponsorship agreements.
Clients classified as financial institutions (Financial Institutions) are guided in the registration process with the competent Authorities (IRS, SuisseTax or other Authorities) and in the preparation of data transmission using appropriate software.
Within the European Regulation 2016/679 on data protection (GDPR), Capital Trustees provides assessment services aimed at identifying the criteria and procedures for recording, processing and archiving data, as well as the correct identification of key subjects involved in the treatment. Shortcomings in the system are taken care through set-ups of operational “road-maps” for the implementation of legal and regulatory procedures.
Similar services are provided for business processes (audits) in the implementation of the new federal law on financial institutions (LIFIN), in order to allow Clients to lay the foundations for effective enactments of the standards required by the law.
Capital Trustees believes in the importance of technological enhancements in support of processes and services provided by its platform. It has thus invested in the development of a technology-driven division that focuses on strengthening wealth-structuring solutions with the help of IT tools, enabling clients to have access to innovative protective services.
In a global scenario where new cyber threats and cybercrimes keep on growing in the financial services industry, the firm is betting on advanced technical education, continuous training and strict procedures to be implemented by its team of experts at all levels and across all departments.
Both the advisors and their clients will therefore adopt a comprehensive and uniform approach with a map of intervention on the following critical areas:
• Assessment of structures’ security for both corporate entities and private clients
• Use of up to date tools software with the safest security levels
• Connection to networks, support systems and devices with controlled and protected access only
• Internal procedures for effective data protection and best practices guidance
• Controlled management of exchange of information with third parties
• Periodic analysis of vulnerabilities and new threats
• Set-up of safe data storages and private clouds solutions to allow for business continuity and disaster recovery
Switzerland hosts many of the most visionary entrepreneurs and pioneers of technologies applied to cryptography. The Swiss Financial Market Supervisory Authority (FINMA) has shown its favour towards this phenomenon by setting up a specific FinTech Desk with the purpose of providing assistance to the promoters of ICOs (Initial Coin Offerings) and their consultants.
As a consequence, more than ten of the world’s biggest ICOs have been launched in Switzerland, dozens are at an advanced stage and hundreds more are in a still embryonic phase. Capital Trustees has embraced the block chain revolution and assists entrepreneurs interested in starting or developing a business in the FinTech sector, identifying the most suitable legal structures for ICOs and providing guidance on tax matters, drafting of white papers and prospectus.
Capital Trustees can also liaise with the competent tax authorities for efficient tax ruling and with FINMA’s FinTech Desk in order to clarify the ICO’s position in relation to the current regulatory framework. If requested, the firm can also collaborate with the entrepreneur in relation to investor research, digital marketing and road showing.
After the ICO, Capital Trustee can continue to provide assistance, taking care of the recurring activities, such as accounting and fiduciary management of the various entities in the structure, compliance and reporting costs, and investors relationship management.
Capital Trustees’ philanthropy services aim at facilitating the development and management of charitable purpose initiatives, building bridges between donors, philanthropy experts and the public.
The firm has a strong background in supporting individuals’ and families’ pursuit of important social causes through charitable plans, finding synergies between wealth structuring and philanthropy.
Weather the client is already involved in giving, wants to leave assets through a will, or has more ambitious goals in mind, he will be guided by Capital Trustees and its network of partners in choosing the best vehicles to make his vision come to life. In particular, the firm will be able to provide assistance in the following areas:
• Creation of charitable plans
• Design and implementations of charitable structures
• Set-up and administration of Charitable Trusts and foundations
• Networking and creation of partnership opportunities
• Tax advisory, including support in the request for tax exemptions for special charitable structures
• Legal and compliance advisory
Art and collectibles can represent a considerable share of the asset portfolio held by HNWI, if not the main part, becoming an important tool for diversification in modern investment strategies.
Capital Trustees, wishing to be close to its client needs, has developed a unique expertise in the management of art and collectible items by designing wealth-structuring vehicles that have the aim of protecting and enhancing artists’ and collector’s activity. The firm acts with the cooperation of field specialists in order to cater the following services:
• General asset management, including inventories, insurance, storing and logistics, preservation, exhibitions, sale and purchase advisory, lending or financing and customs procedures
• Tax & legal advisory, with respect in particular to asset movements, donations, contractual agreements and generational transfers
• Management of Artist’s Estates, with the aim of preserving and enhancing the artist’s legacy
• Relationship management with third parties such as customs, banking institutes, valuators or specialized restorers, administrative offices, museums and free ports
• Experts selection, such as insurers and logistics operators with experience in the sector
• Development of philanthropic strategies
The trust is often an appealing solution for both holding and transferring art and collectibles. Thanks to the benefit of segregation, it offers effective asset protection, avoiding the dispersion of collections that require unitary management. Through such a structure, collectors will be able to fully enjoy the assets while planning for their charitable purpose or designing generational transfer.