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Using Seychelles Foundations to hold a variety of assets.
Being a company, a Seychelles Foundation can beneficially own assets.
It is the essence of a Seychelles Foundation that it is:
1. in effect, a company
2. but without shareholders or members.
Being in effect a company, a Seychelles foundation can beneficially own assets. As such, the Seychelles Foundation becomes the owner of the asset, but the Foundation itself is without owners. It is therefore the perfect "orphan" or "self-orphaned" vehicle.
The assets transferred by Mr X are now owned by the Foundation.
The Foundation is managed by a Council (based in Seychelles) and Mr X's uncle is the Protector with power to appoint and remove the Councillors and veto any resolutions of the Council (e.g. the Protector may veto any Councillor's resolution to approve or remove beneficiaries, or to transfer assets out of the Foundation).
Mr X and his family are beneficiaries of the Foundation.
No person, whether a legal or natural person, or any other kind of legal entity can own the Foundation. Therefore the investment portfolio is:
1. owned by the Foundation, and
2. ultimately owned by no-one else.
In appropriate circumstances, such an arrangement can create significant international tax planning possibilities.
Jordans Trust Company (Seychelles) Limited is licensed and regulated by the Seychelles Financial Services Commission.