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The way you structure your wealth and investments today affects your family for generations. At Private Banking from Emirates NBD, we will guide you through the many changes you may encounter over your lifetime and help you plan your assets for today and for generations to come.
As our client, you have access to Trust and Advisory services that encompass a complete range of wealth transition and asset planning solutions. Emirates NBD Trust Company (Jersey) Limited is an independent, wholly owned subsidiary of Emirates NBD PJSC, regulated and licensed in Jersey, Channel Islands. This service provides advice and structuring opportunities that allow you to own assets within the most efficient and secure structures.
We offer the following services:
Our specialist team will work closely with you to provide advice and solutions to suit your individual and family needs.
To learn more about the Trust & Wealth Structuring services, please click here.
In common law legal systems, a Trust is a relationship whereby the assets are held by the Trustees for the benefit of individual Beneficiaries or a named Class of Beneficiaries. A Trust is usually created by the Settlor in writing (Deed / Settlement) who entrusts some or all of their assets to the Trustees of their choice.
The separation of ownership of an asset and the enjoyment thereof is a key concept of the Trust. A Trustee, therefore, has a fiduciary duty to act at all times in the best interest of the named Beneficiaries, to act in accordance with the terms of the Trust Document and not to take personal advantage of the role as trustee (e.g. by using assets for his own benefit).
Generally, the type of assets a settlor intends to structure into a trust determines what specific type of trust will be used. At EmiratesNBD, we are able to manage trusts under any given common law trust regime. We will consult with the settlor on what the specific needs are and will then suggest the most suitable jurisdictional law. The settlor may wish to retain a certain amount of control over some aspects of the trust, which is when we suggest to use laws which have incorporated the reservation of powers to the settlor (e.g. Cayman law). Under specific circumstances when the settlor wishes to remain totally at arms length, then fully discretionary structures may be the preferred solution. Finally, for holding operating companies such as family businesses, quite often a so-called purpose trust could be ideal.
Our clients are protected as we only work in well regulated and highly reputable jurisdictions and adhere to highest professional standards. We provide personalised service by a qualified multilingual team.
It is important that Settlors choose their Trustees carefully and make sure they work with a Corporate Trustee rather than with individuals, which is generally out-lawed in well regulated jurisdictions. For this reason, ENBD has established its Trust Company.
Whilst we strongly recommend that all clients seek legal and / or tax advice from a professional of their choice, ENBDTC cannot and will not provide legal or tax advice. Upon request, we will refer clients to the respective professionals from within our network.
If all formal client due diligence requirements have been fulfilled, ENBDTC is in a position to set up the intended structure relatively quickly. The time frame generally depends whether third parties such as client's lawyers or tax advisors need to be consulted with and on the complexity of the structure and the assets involved.
Prior to creating any structure, all set up costs and annual fees are agreed with the client and a competitive and binding fee quote will be signed. Such costs depend on a number of factors: the complexity of the structure, level and type of assets, the number of entities within a structure and the anticipated workload and fiduciary risk.
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