Blockchain technology has underpinned cryptocurrency development and has the ability to recognise, store and transfer value like nothing else.
With the same gusto, global businesses have adopted Blockchain in every type of industry; without doubt, Blockchain technology is here to stay. As with any application of the technology this creates new challenges – whether relating to regulation, tax, contracts, due diligence and more.
We can assist with the development and implementation of strategies and can navigate the complex legal and regulatory environment. With offices strategically located in Blockchain friendly jurisdictions, we work with individuals to set up new businesses and organisations, to raise funds, create value and to manage their infrastructure in radically new ways.
At Sentient, we have a team of experience and qualified professionals that offer a full range of administration, bookkeeping and accounting services so that we can demonstrate the financial position of the companies we manage at any time, allowing our clients to make better informed decisions for their businesses through relevant and efficient statistical information.
With clients ranging from private companies to multinationals, we offer a full range of solutions which are tailored to the level each client requires. Our solutions can encompass all or a combination of the following: bookkeeping; preparation of annual or periodic management accounts; preparation of financial statements, and; the completion and submission of VAT and tax returns.
These services are complemented by a robust framework of corporate governance so that they remain compliant with local regulations and reporting requirements.
The use of a corporate vehicle in the establishment and structuring of a financial transaction is common place. Whether this is for the purpose of providing privacy, philanthropy, succession planning, wealth preservation, holding investments or even for the purpose of trading, our highly experienced staff can assist with corporate structuring and provide guidance on choosing the right jurisdiction for a particular transaction.
We work with clients to provide them with a holistic view of their needs. This together with the relationships we have formed internationally with intermediaries and tax advisors, means that we are able to stay at the forefront of any new developments.
We understand that implementation is key to the success of any form of tax planning and to this end we work closely with the professionals to provide a structure that is fit for purpose and yields success.
We also ensure that our staff dedicate their time to the things that matter; maintaining files, recording transactions correctly and providing timely and accurate information to our clients and their advisors.
Corporate governance can be defined as the mechanisms, processes and relations by which an company is controlled and directed.
Whether you are an established company or a new start-up, we can offer your business an alternative arrangement with our specialised yet cost effective corporate governance service.
We look to add value to our clients and their businesses through the use of our existing processes, knowledge and experience, to assist them in managing their business in a way that is compliant but also saves them time and money.
An excellent starting point is often in the undertaking of a simple health check or review, so that we can ascertain the client’s exact needs and the key areas that require our assistance. This could be as broad as helping the client to manage their overall corporate governance solution or to providing a tailored solution in response to a specific issue, be it anti-money laundering, due diligence, compliance review and advisory or monitoring. Our aim is to create a detailed understanding of each client’s business model so that we can be proactive in our approach.
Our aim is to provide a highly professional service that is affordably priced and there is no charge for an initial meeting.
Wealth can be a reward, a privilege or the result of good fortune. But it can bring problems: there are plenty of ways to lose it; it can spoil lives and split families.
The prudent and sophisticated take care with their wealth, to: protect it from outsiders; invest it; put it to work; prevent it from bringing family problems, and; direct its management and distribution, even after death.
Trusts are well established legal vehicles but they have European cousins that offer a powerful alternative: Foundations.
A Foundation provides many of the advantages of a trust or limited company but can also serve a similar purpose to a private or charitable trust.
Jurisdictions that previously offered trusts alone are introducing foundations, including the Crown Dependencies. While the legislation differs to some extent between the Crown Dependencies, the essence of the foundation remains the same: a founder dedicates property to a chosen purpose (such as family or charitable purposes), the foundation is registered and becomes a legal entity and its affairs are conducted by a council under the constitution.
They are an attractive vehicle for managing ones’s wealth and for the purpose of succession planning but can also be used commercially or for those uncomfortable with common law trusts.
A corporate solution for the limitations and problems encountered with trusts and foundations has existed for some time and is rapidly gaining popularity. This solution is the Manx hybrid company; a versatile corporate vehicle, which can provide many of the estate planning advantages of a discretionary trust without the historically associated difficulties.
Both Isle of Man Companies Acts provide for hybrid companies and offers a number of advantages over a traditional trust or foundation
– Company law regulates the hybrid and is more certain than trust law, which has many uncertainties and interpretations
– Subject to its constitutional documents or any regulatory or licensing requirements it can trade without restriction, thereby providing a more flexible entity than a trust;
– It can be more versatile than a trust in that it is capable of being used to achieve several objectives;
– The Beneficial Owner, though legally fully divested of his assets, can at the same time exercise a measure of control over them; Trust
– It has continuity and can last indefinitely, unlike a trust, which is generally subject to the rules against perpetuity (perpetuity period of an Isle of Man trust is 150 years);
– Unlike the trust there is unlikely to be any problem over being recognised as an incorporated body;
– It is a legal entity with limited liability, unlike the trust where the Trustees can face unlimited liability.
At Sentient, we have significant experience in the establishment and management of Hybrid structures and are one of few providers to offer this solution.
There is a huge amount of talk in the industry about ICO’s and the way they are revolutionising the emerging economic market.
It is safe to say that there are also as many consultants proclaiming to be experts on the subject. With every client having different requirements and every business managed in a different way, we do not claim to be world experts on the subject as it is an impossible task. However, at Sentient we are able to draw on our extensive experience and knowledge to help our clients develop their ICO, pick the right jurisdiction to launch it in, draft the required paperwork and liaise with the respective Authorities in order to help them in getting their tokenisation underway.
Our Fintech team can assist with the establishment of bespoke corporate structures which consider and review all aspects of the ICO including Crypto regulations, taxation, corporate structuring, AML/KYC, banking and future exit planning.
A partnership provides an alternative vehicle to a company whilst offering limited liability to the owners, making them a great vehicle for holding assets or investments on behalf of a family as an alternative to a trust. They are usually transparent from a tax perspective and as such provide for a different type of planning to that of other vehicles available.
A Limited Partnership differs to that of a General Partnership in that it has at least one General Partner and at least one Limited Partner. The General Partner takes on the same role as in a General Partnership, managing the day to day operations with unlimited liability.
However, it is integral that a Limited Partner(s) whilst contributing financially to the business, does not play an active role in the business in order for them to benefit from restricted liability (based on the amount of capital they contribute) thus gaining some crucial protection in that they are not personally liable for any business debts. They can also be eligible to benefit from a tax perspective.
Limited partners need to understand that they can become personally liable if they do not stick to their passive role. At Sentient, we have extensive experience in setting up and managing Limited Partnerships on behalf of our clients and fully understand the role and responsibilities of the General Partner.
Investing in UK commercial real estate is becoming ever more complex and realistically is only viable for those individuals domiciled outside of the UK. However, obtaining the appropriate professional advice and engaging the right service provider for structuring can assist in mitigating UK tax exposures for foreign investors in UK commercial property.
At Sentient, we have over 35 years’ experience implementing a variety of property solutions, each designed to meet the individual objectives of each client. We offer efficient and cost-effective arrangements for all types of property acquisition through an assortment of vehicle types.
We have a wealth of experience and understanding in the acquisitions, maintenance, redevelopment and sale of a broad range of property types worldwide, including: serviced apartments, hotels, office buildings, student accommodation, offices, care homes and residential developments.
Without doubt, owning a high value asset such as a ship, within a corporate ownership structure, offers a vessels owner(s) a number of benefits whether it be privacy, minimisation of liability exposure.
At Sentient we are able to provide a full range of structuring and associated support services to ship owners in order to protect their asset. We can establish a corporate vehicle in the most appropriate jurisdiction to hold their asset, providing the necessary ongoing statutory services and company administration for the effective and efficient management of the company to ensure it remains compliant.
In addition, we offer a full range of auxiliary services to support the structures we manage, these include: Ship Registration; Flag Administration; Ship Representative Person; Bookkeeping and Accounting; VAT/Tax Compliance services, and; Crew Employment and Payroll services.
The choice of registry is important when considering under which flag to register a vessel. The state chosen determines how a vessel will be treated in the countries and ports it visits. A flag state must enforce convention standards on the vessels it maintains within its register so when choosing a state in which to register a vessel, consideration should be given to the following:
– The reputation
– Jurisdiction stability (in terms of its local Government)
– What professional support services exist; and the cost.
– Ease of registration and customer services
– Gross tonnage
– What security is required by those providing a mortgage
We are ideally located to provide multi-jurisdictional registration according to each of our client’s individual requirements and ensure the process of registering their vessel is as efficient and as smooth as possible.
Approved by the Isle of Man Ship Registry as a “Representative Person”, we can act for owners and operators of a wide range of vessels. Furthermore, we can assist with the necessary ongoing administration in respect of the regulatory, technical and administrative upkeep of such vessels as well as the ownership entities, across a number of jurisdictions.
Tax planning, whether for a private individuals or a large corporate, is becoming increasingly more complex, resulting in the need to stay up to date with the latest tax changes and developments in order to ensure that any legal or tax obligations are complied with and remain a priority.
When it comes to taxation, the preservation of wealth whilst mitigating tax liabilities is often at the forefront of many private client’s minds. Our team can assist with the structuring required for effective tax planning to mitigate tax liabilities in an effective yet compliant manner.
Furthermore, we offer tax compliance services in addition to the ongoing administration required to manage these structures, including the preparation and submission of tax returns and FATCA and CRS compliance and reporting.
VAT is a complex and onerous tax regime which affects all type of businesses. Due to the scope and complexity of VAT, it is important to obtain the appropriate professional support that is vital to ensure correct compliance.
For corporate entities, particularly those trading across Europe, VAT can be very time consuming and heavily administrative.
At Sentient we can provide the following services to support your VAT requirements: VAT registration; VAT Administration and VAT Compliance.