Wednesday 28 October, 2020

Global accountancy firm launches Cayman offering

Paul Tucknott is the managing director of Saffery Champness in Switzerland and is a qualified account and STEP practitioner. (Image source: Saffery Champness)

Paul Tucknott is the managing director of Saffery Champness in Switzerland and is a qualified account and STEP practitioner. (Image source: Saffery Champness)

Accountancy firm Saffery Champness has launched a new offering in the Cayman Islands. Saffery Trustee Company (Cayman) Limited (STCCL) will provide Cayman trust and corporate services as a registered controlled subsidiary of a licensed Cayman trust company.

The directors of STCCL will include Paul Tucknott, managing director of Saffery Champness in Geneva, and Lisa Vizia, director of Saffery Champness in Guernsey, subject to Cayman Islands Monetary Authority (CIMA) approval.

Saffery Champness fiduciary professionals in Geneva and Guernsey will be working with a team in Cayman to provide services such as company incorporation and registered office services for Cayman entities, administration and acting as a Cayman trustee, whilst providing some or all of the required administration locally, or via Saffery Champness’ offices in Geneva or Guernsey according to client requirements.

STCCL, which was incorporated in October 2019, received regulatory approval from the Cayman Islands Monetary Authority (CIMA) to undertake trust business in January 2020 and was granted a corporate license to operate by CIMA in June 2020.

Nick Batiste, managing director of Saffery Champness Registered Fiduciaries, said the decision was made after “carefully considering the needs of our international clients”.

“The Cayman Islands is a key jurisdiction with a robust legislative framework. It is highly regarded by clients and advisers alike and will continue to be a location of choice for those with complex international needs."

This new offering in the Cayman Islands follows the launch of Saffery Champness Registered Fiduciaries’ Dubai office in 2018.

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