The Benefits of a Fiduciary Advisor in the Cayman Islands
A fiduciary has a great deal of discretionary authority and is held to a higher standard than a non-fiduciary advisor.
If you have agreed to work on behalf of someone in a situation where they place total confidence and trust in you, you have what is called a ‘fiduciary duty’ to that person.
In business, a fiduciary is a person, a bank, or an organization given the power and responsibility to act on your behalf in situations requiring total trust, good faith, and honesty. For example, corporate officers are fiduciaries for their shareholders, while lawyers and real estate brokers are fiduciaries for their clients.
The tax-neutral stance of the Cayman Islands, as well as the simplicity of setting up a Cayman company or trust, attracts many foreign companies and individuals to incorporate in the islands, boosting the demand for the Cayman Islands fiduciary services to run a business or manage a trust. Fiduciary relationships are also often found in the transfer of property rights.
Click Here to read more.
