Private Companies - Advantages

Preservation of Financial Privacy. Interposing a corporate entity between an individual and his investments or operating activities can confer commercial advantage. Typically, Whitmill personnel constitute the Directors and Officers of client investment companies and our corporate nominee names provide the registered shareholders of such companies under Declarations of Trust in favour of the beneficial owners. Signing authorities are vested in the Directors and not the clients.

Confidentiality of Information. When arranging the incorporation of a company in Jersey it is necessary to disclose the name and address of the beneficial owner on a confidential basis to the Jersey Commercial Relations Officer. This information is not available to any outside parties.

The only documents available for public inspection at the appropriate Financial Services Department are:-

(i) The Memorandum and Articles of Association.;
(ii) A copy of the Acte of Court incorporating the company;
(iii) Notice of situation of Registered Office;
(iv) Annual Returns which only contain details of Authorised and Issued Capital and registered shareholders, who might only be nominees.

The disclosure of the identity of the beneficial owners is not required when incorporating a British Virgin Island company.

Taxation Planning Benefits. A corporate entity is perpetual and hence its assets are not subject to estate or inheritance taxes. The beneficial ownership of client companies may, for example, be held to the order of the client and his family with rights of survivorship applying or, more advantageously, the shareholdings may be held under the terms of an Offshore Trust to provide greater flexibility as to the disposition of the underlying assets to the clients' heirs.

Administrative Convenience. A private holding company enables an individual to consolidate assets which may be scattered in various countries throughout the world to be placed under the control of one professional manager. On-going administration, record keeping, accounting, custodianship and similar tasks may be performed by us on behalf of the beneficial owner thereby relieving clients from these burdens.