Personal Holding Company

If a person owns a number of assets in several different countries they may consider holding these through a personal holding company. This would give the individual privacy and, upon demise, probate may only need to be applied for in the country where the company is incorporated rather than in each country where the assets are situated. The arrangement is discreet, simplifies the administration of the deceased’s affairs and saves legal fees. The individual may also wish to establish a trust to hold the shares of his company, so that upon his death the benefits of his assets may seamlessly devolve to his heirs with no inheritance tax (depending on the jurisdiction).

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30/09/2006
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