TRUSTS AND PROTECTION OF YOUR ASSETS
The international holding Wise Wolves Group (WWG) has been successfully operating in the EU, Great Britain and Switzerland for several years. Licensed by the Central Bank of Cyprus and the Cyprus Securities and Exchange Commission, the holding operates in three main areas: brokerage, fiduciary and payment solutions of any complexity.
The most demanded services by customers today:
- relocation of business to Europe
- payment and brokerage solutions
- settlement of the platforms for international payments in all key currencies
- development and implementation of software for accounting and back-office companies for various industries
The range of services offered by WWG helps to provide an integrated approach to solving business problems of any complexity and focus within a single perimeter of the group of companies. This emphasises the uniqueness of WWG against the background of competitors who implement client orders for a limited set of services and tools.
Individuality, trust and a special approach are the main principles of WWG’s work with clients, and the company adheres to them unswervingly. This is how long-term and trusting business relationships are built, thanks to which the business and the well-being of clients, being under reliable protection, grow and strengthen. A vivid illustration of this is the trusts created by WWG.
Elena Dushchenko, COO of Wise Wolves Group, answers our questions.
What is a trust?
A trust is an agreement whereby the settlor transfers the property to an independent legal entity (trustee). At the same time, it is indicated that the trustee has the right to own (actually own) and dispose (determine the legal fate) of property – subject to the restrictions provided for by the actual agreement and the wishes of the client. The right to use (receive benefits/benefits) the assets in the trust is for the beneficiaries appointed by the owner.
What kind of trust transactions are in WWG’s field of activity?
The company has developed a structure for a specific goal – investments in the financial markets.
The client’s desire to maintain or increase assets through investments in the stock market entails the need to have special knowledge; take time to constantly monitor and refocus the investment strategy; independently report income and pay taxes on them; bear the risks of loss of the asset in the event of any penalties levelled against the client (does not mean investment risks).
As part of these client needs, WWG has created a professional trust-based instrument. It allows you to:
- Save assets, i.e. protect them from any penalties against the owner or their company.
- Optimise tax implications: the trust is transparent from a tax point of view, and no tax implications arise until the beneficiaries are paid.
- Restrict the disclosure of personal information within the legal framework.
- Increase your assets, i.e. get all the advantages of investing in the financial markets (including the safety of capital, prompt circulation of money, a favourable percentage of profitability). For these purposes, brokerage accounts are quickly opened for a trust in a licensed WWG brokerage house with the ability to invest in a wide range of financial instruments in almost all recognised markets.
- Dispose of the funds of the trust by opening current accounts with a licensed payment institution in WWG for a significant set of currencies.
What are the types of trusts?
As stated above, a trust is an agreement. As with any legal document, there can be an endless variety of drafting options. It all depends on the wishes and goals of the founder.
Steps to create a trust
- Determine the structure and composition of the participants.
- Prepare a set of KYC documents.
- WWG prepares documents, and also opens checking and brokerage accounts for the trust.
- The settlor transfers the assets and explains its wishes for distribution to the beneficiaries.
What are the advantages of a trust over a company or holding?
These are completely different structures. A trust is a legal document with formalised rights and obligations of the founder and trustee. It is a tool that builds a long-term relationship of trust between the founder and the professional trustee who, listening to the client’s needs, achieves the goals set by him.
A company is a legal form of organisation, the main advantage of which is the presence of independent legal capacity. As a rule, the main purpose of creating companies is commercial gain and solving business problems with minimal risks for the shareholder.
Wise Wolves Group’s international team of professionals will help create the trust that best suits the client’s needs. The choice of WWG services is the key to access unique licensed instrumental capabilities with an individual approach in the mode of a single perimeter of trust and information security in the European Union, Great Britain and Switzerland.