As a leading provider of legal, regulatory and trust-based advice best places us to assist trust service providers
We provide specialist legal and regulatory services to Trust Service Providers in the Isle of Man.
We have extensive experience in working closely with Trust Service Providers across all aspects of trust formation and associated administration services.
The provision of trust services (if undertaken by way of business) is regulated by the Isle of Man Financial Services Authority under The Regulated Activities Order 2011 (amended to 2019).
Class 5 | Trust Services
This class comprises of acting as a trustee or trust corporation, providing trust administration services, acting as a protector and acting as an enforcer (of a purpose trust under The Purpose Trusts Act 1996 or of a foundation under The Foundations Act 2011).
The regulations provide for a number of exclusions, among which are:
- Professional services (legal, accountancy etc.).
- Group transactions (where a trust is established for the benefit of that group).
- Where the activity is undertaken by a person who is, or proposes to become, a participator in a joint enterprise and the activity is wholly incidental to that joint enterprise.
- Insurers (regulated separately under The Insurance Act 2008)
Trust Service Providers | What we do
At MannBenham we offer our clients an attractive opportunity to work with experienced Advocates who can advise on trustee services and are well placed to respond to specific requirements, taking into account legal, regulatory and compliance matters which may arise from time to time.