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Atlas Targets Asian Trust Services Market

Tuesday, October 18, 2011

Atlas Corporate Services Group, a leading international corporate and trust service provider, has announced that it has been granted new licences to operate in the Ras-Al-Khaimah Free Trade Zone and in Mauritius as the firm expands its global reach into Asia.

Atlas Corporate Services Limited has been granted a Management License by the Financial Services Commission of Mauritius to provide company and trust administration services. In addition, the Group's Dubai-based business consultancy unit, Atlas Corporate Services JLT, has been accepted as a Registered Class 4 Agent in the Ras Al Khaimah Free Trade Zone Authority.

Atlas has been working on its applications over the past few months with both the RAK Free Trade Zone Authority and the Mauritius Financial Services Commission. After a stringent interview process, it was felt that Atlas has the proven experience and necessary professional capabilities to act as fully licensed agents in both jurisdictions. The licensing covers RAK International Companies (ICs) in the UAE, and the general management license in Mauritius covers GBC1, GBC2 and Mauritius Trusts, to cover a wide range of professional purposes.

Atlas said that these developments "will add a vital edge to the firm’s competitive standing", and confirms its commitment to be a leader in the Corporate Services provider world.

“Our appointment as registered agents for RAK International Companies will allow clients heightened access to efficient and cost effective incorporation," said Kevin O’Farrell, Head of Corporate Administration. "Furthermore, a business presence in either of these OECD white list jurisdictions will also allow critical access to the Middle Eastern, Asian and European markets, without the need for a physical office presence.”

“Mauritius is widely regarded as one of the best and most respected jurisdictions in the offshore world," added Jesse Hester, Atlas Group Chairman and Head of the Mauritius office. "Now that Atlas has successfully obtained FSC licensing, it will allow the Group to carry out licensed trust and company incorporation and administration work for our clients Internationally, offering a gateway into the African, Indian and Chinese markets. Such activity will give Atlas an even broader reach, and a clear advantage over our peer group.”

Atlas has further plans for licensing in additional territories in 2012.

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The Report

Offshore Trusts Guide: Introduction

The History of Offshore Trusts
Development of Professional Competence in the Jurisdictions
What Future for the Trust?
The New Age of Transparency
The Swiss Association of Trust Companies
The Society of Trusts and Estates Practitioners

Offshore Trusts Guide: Jurisdictions

Bahamas

Bahamas: Legal Framework and Formation Rules and Fees
Bahamas: 2006 Private Trust Companies Legislation

Barbados

Barbados: Legal Framework and Formation Rules and Fees
Barbados: Supervisory and Licensing Regime and Fees

Bermuda

Bermuda: Legal Framework and Formation Rules and Fees
Bermuda: Supervisory and Licensing Regime and Fees

British Virgin Islands

British Virgin Islands: Legal Framework and Formation Rules and Fees
British Virgin Islands: Special Trusts Act 2003
British Virgin Islands: The Trustee Act 2003
British Virgin Islands: :Supervisory and Licensing Regime and Fees
British Virgin Islands: New Laws on Private Trust Companies
British Virgin Islands: New Private Trust Company Regulations

Cayman Islands

Cayman Islands: Legal Framework and Formation Rules and Fees
Cayman Islands: Supervisory and Licensing Regime and Fees

Cook Islands

Cook Islands: Legal Framework and Formation Rules and Fees
Cook Islands: Supervisory and Licensing Regime and Fees

Cyprus

Cyprus: Legal Framework and Formation Rules and Fees
Cyprus: Supervision, Licensing and Tax

Gibraltar

Gibraltar: Legal Framework and Formation Rules and Fees
Gibraltar: Legislation, Regulation and Supervision

Guernsey

Guernsey: Legal Framework and Formation Rules and Fees
Guernsey: Trusts Law 2007

Isle of Man

Isle of Man: Legal Framework and Formation Rules and Fees
Isle of Man: Supervisory and Licensing Regime
Isle of Man: Uses Clients and Tax Treatment

Jersey

Jersey: Legal Framework and Formation Rules and Fees
Jersey: Supervisory and Licensing Regime
Jersey: Trusts Amendment Act 2006
Jersey: Foundations

Liechtenstein

Liechtenstein: Legal Framework and Formation Rules and Fees
Liechtenstein: Regulation Supervision and Transparency
Liechtenstein: Characteristics of Liechtenstein Trusts
Liechtenstein: Foundations

Madeira

Madeira: Legal Framework and Formation Rules and Fees

Malta

Malta: Legal Framework and Formation Rules and Fees
Malta: The Trust and Trustees Act 2004

Mauritius

Mauritius: Legal Framework and Formation Rules and Fees
Mauritius: Characteristics of the 2001 Trusts Act
Mauritius: Additional Provisions of the 2001 Trusts Act
Mauritius: Tax Treatment

Monaco

Monaco: Legal Framework and Formation Rules and Fees

Nevis

Nevis: Legal Framework and Formation Rules and Fees

Panama

Panama: Legal Framework and Formation Rules and Fees
Panama: Requirements for Acting as Trust Company in Panama

Seychelles

Seychelles: Legal Framework and Formation Rules and Fees

Turks & Caicos

Turks & Caicos: Legal Framework and Formation Rules and Fees
Turks & Caicos: The Voidable Dispositions Ordinance

Vanuatu

Vanuatu Legal Framework and Formation Rules and Fees




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