Fiduciary

Zeta’s Group Company Premier Fiduciary and Trusts Limited offer trust and fiduciary services to both corporate and individual clients. The fiduciary services offered involves the holding and administration of client assets, based on instructions provided by the owner of the assets.

Premier Fiduciary and Trusts Limited ensures that all nominee-related services are based on bespoke solutions and rigorous standards of customer confidentiality and discretion, providing clients with peace of mind in the organisation, holding, management and administration of their assets.

The primary nominee fiduciary functions conducted by Premier Fiduciary and Trusts Limited include the following services:

• Holding of assets under title of mandate and/or deposit;
• Management of assets and/or execution of instructions pertaining to assets held;
• Protection of financial and non-financial assets;
• Holding shares for, and on behalf of, shareholders.

Malta Foundations

Foundations fall under the regulations of the Maltese Civil Code. The principal legislation regulating Foundations in Malta is Act XIII of 2007 and is part of the legislation that also regulates trusts and fiduciary obligations.

Foundations can be established by natural persons or corporate entities in Malta. The law recognises two types of foundations in Malta:

• A public foundation is established with a specific scope,
• A private foundation is established for a person or a group of individuals called beneficiaries.

Setting Up a Foundation

A foundation can be constituted either by a public deed or a will. If established by a public deed, the deed would have to be published by a notary and subsequently registered in the Public Registry in Malta. The minimum amount of funds to set up the foundation is €1,165 or property having an equivalent amount in value. If the foundation is established exclusively for a social purpose, the minimum amount required is €233.

Benefits of a Malta Foundation

The benefits to those deciding to set up a foundation in Malta include:

• Confidentiality as the law protects the details of the beneficiaries;
• Unlike trusts, foundations have a legal personality, and the foundation itself becomes the legal owner of the Foundation Estate, thus allowing the founder to maintain a level of control on the direction of the estate;
• Official registration with a public authority;
• The founder can be the administrator and also a beneficiary;
• Assets and liabilities are distinct from those of the founders, administrators and beneficiaries;
• Public foundations may be set up for an unlimited period and private foundations for a maximum of 125 years.

How We Can Assist

Premier Fiduciary and Trust Services Limited can assist in the setting up and structuring of foundations in Malta while providing ongoing advisory services to clients.

Malta Trusts

Malta is one of few civil law jurisdictions that has developed its own trust-related law, which is regulated by the Trusts and Trustees Act. The Act provides for the creation of trusts and the authorisation and supervision by the Malta Financial Services Authority (MFSA). This Act allows Maltese or foreign settlers to establish trusts governed either by Maltese Law or foreign law.

The procedure for setting up a trust in Malta is relatively simple. While trusts are not typical to systems of law based on Common Law and are not generally found in civil law countries, Malta proves to be an exception to this rule. Maltese Law recognises all the main types of trusts one would typically find in traditional common law jurisdictions.

Benefits of a Malta Trust

Malta offers an array of benefits to those deciding to set up a Maltese trust, such as:

• To prevent the property of a deceased person from vesting absolutely in his adult children who would then be entirely free for dissipate the property as they wish;
• To preserve and generate family wealth in a tax-efficient manner, avoiding the division of the assets into smaller and less effective shares in each generation;
• An individual can decide to consolidate their estate into a trust, whereby it shall be administered and managed by the Trustee for the benefit of the beneficiaries;
• The assets of the trust would be segregated from the personal assets of the Trustee;
• Tax transparency on income distributed to the beneficiaries;
• A trust deed can be tailor-made;
• The settlor’s creditors shall have no recourse against the property set on trust.

Gibraltar Trusts

Gibraltar recognises and gives full legal effect to the concept of a trust making Gibraltar an international best practice in the area of trusts. The Trustee Act, which is the main legislation governing trusts in Gibraltar, is based on the English Trustee Act 1893 and has been supplemented and updated by amending legislation.

A Gibraltar Trust may be registered in accordance with the Gibraltar Registered Trusts Act 1999, however, this is entirely voluntary. Gibraltar Trusts do not need to be registered and therefore, remain confidential and private.

Benefits of a Gibraltar Trust

Traditionally, Trusts have been a conventional vehicle used by individuals to structure their estate and succession planning to benefit from:

• Tax mitigation;
• Protection of assets;
• Succession planning;
• Ease of asset transfer.

How We Can Assist

Premier Fiduciary and Trusts Limited can incorporate and administer such trusts whilst ensuring compliance and confidentiality. Our team can structure and administer a wide range of trusts to suit your individual needs and circumstances.

Escrow services refer to a transaction whereby an independent, trusted third party (escrow agent) receives and disburses money, documents, or shares to several parties, within the agreed timing of such disbursement.

Escrow arrangements may be used effectively to ensure closing actions in a merger and acquisition deal or to retain some proportion of the purchase price in escrow during a certain guarantee period to secure claims from the other party.

The escrow agent is a trusted third party and will ensure that all the transactions are processed correctly. Zeta, as your partner for escrow services, has a long-standing experience in handling international financial transactions and maintains excellent contacts with major global financial institutions.

As an Escrow Agent, Zeta administers clients’ escrowed assets such as cash, securities and property. Zeta manages the escrow process within the terms and conditions set out in its escrow agreement; Zeta handles different transaction type escrow agreements.

* Zeta Group’s affiliate Premier Fiduciary and Trusts Limited provides Escrow accounts for natural and legal persons.