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Family Office Restructuring

"Our family office was basically running off a spreadsheet. We knew that we had to professionalise and properly separate our private and business affairs - but had been putting this off for a while as the task seemed too big. JTC Private Office managed the entire process for us and we are very proud of the new set-up."

Situation

An established Mexican family was seeking to relocate their family office to an alternative jurisdiction due to privacy and also because their activities were no longer restricted to Mexico. JTC Private Office was engaged to arrange formal advice from an international tax practitioner and to execute the proposed restructuring.

JTC’s international platform was important as the family required services to be performed in a number of locations including BVI, Cayman, Jersey and the US. The JTC Private Office team ensured a fully joined up approach across all parties.

Restructuring and Fiduciary Services

We engaged top international accountants and lawyers to make sure the design of the new family office was fit for purpose. Using this advice we set up a new Cayman entity and put in place directors and appropriate administration services.

HR

Employment contracts and payroll from the existing family office were transferred to the new entity. Headhunters were used to recruit key employees and sensible incentives were put in place.

Premises

We sourced appropriate office space and arranged provision of dedicated telephone lines and IT support including cloud storage.

Security

We organised a review of security arrangements (both physical and cyber) for the family’s business and for themselves personally.

Financial Control

JTC provided ongoing support to the in-house Finance Director with budgeting and forecasting.

Compliance

We established annual reviews of compliance arrangements, systems and controls.

Please get in touch to find out how JTC Private Office can benefit you.

Matthias Belz
Head of JTC Private Office
[email protected]

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