Assistance with establishing a modern family office structure to facilitate efficient cooperation with European financial institutions.
The patriarch of a CIS state family decided to transfer management of his assets to his son. The son wished to create a modern family office able to engage with top-tier Western banking counterparties on a cost-efficient basis, as well as invest in early stage and pre-IPO venture deals. He also wished for assets to be held via a tax-compliant holding vehicle for the benefit of the wider family, also implementing best practices on family governance.
We helped the son to establish an appropriate holding vehicle and ensure that local tax affairs were managed compliantly. We compiled a detailed KYC pack to demonstrate the legitimate and low-risk nature of the family’s wealth. In particular, we demonstrated that negative media allegations in respect of certain members of the family should be ignored.
On this basis, the son was able to achieve his goals of banking with the best, and on a professional basis without cost premium or stigma due to his background and family residency.
We helped the son to establish an appropriate holding vehicle and ensure that local tax affairs were managed compliantly. We compiled a detailed KYC pack to demonstrate the legitimate and low-risk nature of the family’s wealth. In particular, we demonstrated that negative media allegations in respect of certain members of the family should be ignored.
On this basis, the son was able to achieve his goals of banking with the best, and on a professional basis without cost premium or stigma due to his background and family residency.
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The patriarch of a CIS state family decided to transfer management of his assets to his son. The son wished to create a modern family office able to engage with top-tier Western banking counterparties on a cost-efficient basis, as well as invest in early stage and pre-IPO venture deals. He also wished for assets to be held via a tax-compliant holding vehicle for the benefit of the wider family, also implementing best practices on family governance.
We helped the son to establish an appropriate holding vehicle and ensure that local tax affairs were managed compliantly. We compiled a detailed KYC pack to demonstrate the legitimate and low-risk nature of the family’s wealth. In particular, we demonstrated that negative media allegations in respect of certain members of the family should be ignored.
On this basis, the son was able to achieve his goals of banking with the best, and on a professional basis without cost premium or stigma due to his background and family residency.
On this basis, the son was able to achieve his goals of banking with the best, and on a professional basis without cost premium or stigma due to his background and family residency.
Founder of Monopoly Advisers. Senior Strategic Consultant /
Saffery Champness
Saffery Champness
Mikhail Khodurskiy
The reality is that changes in regulation of private wealth, which are taking place around the globe, rapidly diminish the value of private capital from “unexplained” sources. International financial legislation and regulation of private capital now dictate that all sources of wealth must be explained - even from many decades ago. Any client that does not do so exposes themselves to significant financial and reputational risk. They will also be declined access to banking in Europe.
Think about it beforehand and don’t allow your hard-earned money to become a burden.”
Think about it beforehand and don’t allow your hard-earned money to become a burden.”
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