Why not have a Seychelles Foundation?

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The following came to my attention today:

The SCF Legal Department is delighted to announce the introduction of their new Seychelles PIF’s — Although technically introduced under the 2009 Foundations Act, the legislation did not provide proper thought-out ‘regulations’ which have now been addressed by our Legal Department very much in the way they drafted such ‘regulations’ in the past for Panamanian PIF’s. In pr?©cis, SCF Seychelles PIF’s can now provide an extremely cost-effective method of protecting your hard earned money from vexatious 3rd party actions, the taxman, potential or existing husbands or wife’s combined with unparalleled levels of confidentiality. So powerful and relatively inexpensive are these structures that our legal team firmly believe that most clients (new or existing) should now carefully consider using them in their structures as in most ways they are far more powerful than even trusts in their halcyon days!

What exactly is a Seychelles PIF and how can it help me? A Seychelles PIF, like all private interest foundations, is a self-owning separate legal entity and therefore doesn’t have any ultimate beneficial owners, the very basis of virtually all modern anti-avoidance legislation. In other words, whilst you may have gifted or donated money or money’s worth to your Seychelles PIF it is technically no longer yours but the PIF’s although, provided there has been no duress, you will have retained the right to end the existence of your PIF at any time of your choosing but most importantly all legally. A SCF Seychelles PIF in many ways is similar to other SCF PIF jurisdictions but local legislation has provided a very flexible and user-friendly template.

The advantages of a SCF Seychelles PIF include:

  • Initial Donations can be as little as US$1.00
  • There is a local Statute of Limitations where-by transferred assets will be totally protected after the expiry of a 2 year period
  • Local banking facilities include such British banks such as Barclays Bank
  • Absolute confidentiality as only the PIF Charter is publically recorded and not the much more expansive SCF Regulations
  • You will no longer be the ‘ultimate beneficial owner’ of any transferred assets
  • Seychelles PIF’s can be used to reduce ‘surplus’ assets before a marriage
  • They prevent further taxation or at least double taxation of PIF assets
  • They are generally no more expensive than setting up a basic IBC company structure whilst ‘traditional’ PIF jurisdictions such as Switzerland and Liechtenstein would cost multiples of the amount for a Seychelles PIF
  • They can be ended at anytime by the Founder of the PIF
  • SCF Seychelles PIF’s have anti-flea or duress clauses where-by if anyone or indeed even a court demand that you close or otherwise act against your own declared interests or desires (save for illegal activities) the Foundation Council will be obliged to ignore your instructions
  • SCF Seychelles PIF’s can be drafted to meet your exact needs
  • SCF Seychelles PIF’s can act very much like trusts but often avoiding probate, capital gains and inheritance tax issues

Why an SCF PIF? Are they not the same as every one else’s PIFs? The answer is simply no! Only a SCF PIF will come with SCF ‘Regulations’ that have been drafted by our in-house lawyers who have over 15 years experience of drafting such instruments and further can create any ‘bespoke’ changes you may require especially when there are a number of potential beneficiaries.

And who is selling such things? Start here:

Representative Office:

SCF Legal & Corporate Management Services Limited,

3 The Fountain Centre, Lensbury Avenue, Imperial Wharf, Fulham, London SW6 2TW, UK

Certificate Number 05462416 - VAT Number 859 0235 14

T: + 44 (0) 20 7731 2020

E: offshore@scfgroup.com

Maybe the Revenue need to make a visit. What you can be sure of is that there must be demand in the UK if they think it's worth having an office here. People who, it seems, want absolute control of their assets - but wish to deny their ultimate beneficial ownership.

Now, I ask, why would you want to do that?