Foundations

We hold expert knowledge in fiduciary services and offer close support and guidance.

Foundations are by their very nature a hybrid of a Trust and a Limited Company.

We adopt a personal approach to all our services, which involves close support at every stage from bespoke consultancy, incorporation and administration thereafter. A dedicated team member, and team of experienced professionals with experience in Trusts and Compliance, enables us to meet complex client requirements and exceed their expectations.

Our foundations team

Andy-award

Andy Morgan

Group CEO

Alex Gardner

Group COO

Colin Quayle

Director, Isle of Man

Our foundations services

  • Provision of professional, independent Foundation Council members
  • Provision of Registered Agent services (all foundations must appoint an Isle of Man licensed registered agent who must hold a Class 4 licence under the IOM Financial Services Act 2008)
  • Drafting of the Foundation Instrument and Foundation Rules to your bespoke requirements
  • Registration of the Foundation with the Isle of Man Companies Registry
  • Management of the Foundation activities and ensuring adherence to the Foundation’s objects and rules
  • Filing of the required statutory returns
  • Maintenance of the Isle of Man beneficial ownership register
  • Arrangement and facilitation of Foundation Council Meetings
  • Maintenance of accounting records and preparation of financial statements
  • Attending to the Foundation’s Isle of Man income tax affairs

Colin Quayle

Director, Isle of Man

“As such they are often utilised for estate and succession planning purposes. Affinity understands and appreciates the specific fiduciary responsibilities placed on both a Trustee of a Trust and a Director of a Company and brings a wealth of experience into play when providing professional Foundation Council members to any Foundation.”

Isle of Man  –  Malta –  Cayman Islands –  USA

Further Foundation information

A foundation in Malta is a blend of trusts and companies established either by a public deed between living persons or by a will. Key characteristics include:

  • Legal Personality: It has its own legal personality, separate from its founders or administrators.
  • Purpose and Beneficiaries: It can be set up for a specific purpose (“purpose foundation”) or for the benefit of named beneficiaries.
  • Asset Endowment: Requires an endowment of assets, with a minimum requirement depending on the foundation type.
  • Duration: Can be established for a definite (up to 100 years) or indefinite period.
  • Management: Managed by a board of administrators, with their powers and duties outlined in the foundation deed.
  • Legal Requirements: Must have a name (including the word “Foundation”) and a registered office in Malta.

Malta foundations offer several advantages, including:

  • Asset Protection: Strong protection against future creditors’ claims.
  • Estate Planning: Useful in civil law jurisdictions where the trust concept is not recognised.
  • Confidentiality: Certain details, especially about beneficiaries, can remain private.
  • Flexibility: Operations and management can be tailored in the foundation deed.
  • Tax Efficiency: Potential for low effective tax rates for non-resident beneficiaries.
  • Recognition: More easily recognised in civil law jurisdictions.
  • Perpetual Existence: Continues irrespective of changes in beneficiaries or administrators.
  • Clear Legal Framework: Well-established regulations provide clarity and predictability.

Yes, Maltese foundations can be established for specific charitable purposes and offer several benefits for philanthropic endeavours:

  • Legal Framework: Malta offers a clear and predictable legal framework for establishing and operating charitable foundations.
  • Professional Administration: Foundations can appoint professional administrators for effective management.
  • Confidentiality and Objectives: Maintains confidentiality and allows detailed specification of charitable objectives.
  • Tax Incentives: May benefit from tax exemptions on donations and income from charitable activities.
  • Perpetual Existence: Allows for long-term planning and execution of charitable projects.
  • Asset Protection: Assets are generally protected from external claims, ensuring dedication to the charitable cause.