Our Services
MPH Fiduciary Limited is the Company & Trustee service provider of the Group and is licensed by the Isle of Man Financial Supervision Commission Corporate Service Provider Licence No 43278 and Trustee Service Provider Licence No 43514.
The Board Directors are Mr Darren Harris, Mrs Helen Malone, Mr Brian Harris Paul Harvey and Wayne Lee, whilst the Company's day to day activity is managed by Paul Harvey. The business provides a broad range of Corporate and Trustee services to our clients.
- Company incorporations
- Registered office facilities
- Provision of Directors and Company Secretaries
- Company administration
- Shareholding services
- Creation of Trust Deeds
- Provision of Trusteeships
- Trust administration services
- Trust Portfolio management services
Company Formation
The business can provide Company incorporation services in most onshore and offshore jurisdictions throughout the world. Our service includes identifying the correct Memorandum & Articles of Association to achieve the Company's future trading objectives, submission of all statutory documents to the relevant Company Registrar and the production of all Registers.
A company can be incorporated in most countries both onshore and offshore within 5 working days, for certain legal jurisdictions we hold a list of standard shelf companies for immediate use. Whilst we do not provide tax advice we are happy to compare and contrast the many offshore and onshore jurisdictions and to suggest alternate solutions to achieve the client objectives.
As part of our incorporation package a set of Memoranda and Articles of Association, a seal, a set of share certificates and a combined Register containing all the records required for a jurisdiction, including the minute book will be provided.
Company Administration
Our clients prefer us to look after the ongoing administration of the Company, the MPH team deal with meetings, minute books, bank instructions, bookkeeping, invoicing and are responsible for the day to day administration. We provide a comprehensive service on a fixed price basis, or tailor made services on a time cost basis.
Both the level and choice of services available are flexible and our administrators can deliver any service required of the client company.
Provision of Directors
MPH can provide suitable individuals to act as a Director's to the client companies in most jurisdictions and they comply with English Company Law which imposes duties on directors of loyalty, obedience, independence, no secret profits, conflicts of interest, care, skill and diligence. In addition, our Directors adhere to the Isle of Man Financial Supervision Commission's Guidance notes on the responsibilities and duties of Directors under the laws of the Isle of Man.
We do not act as a "Shadow Director" whereby the direction or the instructions are provided by a third party. There is no such entity in law as a "Nominee Director" as every Director has exactly the same responsibility to the Company as a whole and if he or she neglects that responsibility in the interest of or on the orders of the principal, they would be guilty of a breech of duty.
Our personnel have a variety of experiences of sitting on the boards of Public and Private Companies in many jurisdictions. Our Directors understand the nature and extent of the duties, which they owe as directors, the nature of the role they perform and when in doubt they take appropriate professional advice where necessary. MPH practices high levels of Corporate Governance to ownership and control of the business through its own internal policies and procedures, providing informed and independent judgements.
Company Secretarial Audits
Our skilled personnel can advise and prepare statutory filings if these are in default with a specific Company Registry. The team will advise whether all relevant legislation has been complied with and ensure that the company's constitution and structure are appropriate for its needs. An issue of share raises many significant auditing, taxation and legal issues, whether a New, Rights or Bonus Issue is being undertaken our advice and guidance is available in such areas as;
- Pre-emption Rights
- Vetting Share Applications
- Preparing Allotment Lists
- Issuing Shares
- Submission of Returns to the Registrar of Companies
Company Reviews
MPH have a dedicated team that can investigate the historical statutory information of a company to establish the status of all the secretarial records.We will also advise and prepare statutory filings if and these are in default with the specific Company Registry. We can also confirm whether all relevant legislation has been complied with and ensure the company’s constitution and structure, are appropriate for its needs.
In addition we can provide research and due diligence support services necessary when a client wishes to purchase a new business.
Trustee Services
MPH fiduciary offers a broad range of trust services to individuals, families, closely held family business owners and Trusts. We facilitate the accomplishment of our clients’ lifetime goals including the accumulation, preservation, and transmission of their wealth.
We work with each client to develop a close personal relationship founded on the full understanding of the client’s goals and values. Armed with this knowledge, we advise our clients on how to perpetuate their goals and values for their respective families. MPH will provide complete asset management services by working in collaboration with professional investment managers to ensure the effective discharge of this aspect of their fiduciary duty.
Our trustee specialists have substantial experience in trust administration, accounting and preparation of tax returns gained primarily under the trust laws of England & Wales, Ireland, Isle of Man and Gibraltar.
Trusteeships
MPH can provide both corporate and personal trusteeships to its clients, working on the ethical principals directed by the Society Trust & Estate Practitioners "STEP". This Code of Professional Conduct has been drawn up under the aegis of the Ethics and Discipline Committee of STEP.Our in-house trust company are available to act as trustee. We can also provide and operate a managed trust service for professional intermediaries. As well as providing trusteeships to private trust companies for particularly high net worth clients.
Our personal trustees have gained substantial experience in trust administration, accounting and taxation primarily under the trust laws of England & Wales, Ireland, Isle of Man, Jersey and Gibraltar. trust is a legal arrangement where an individual known as the ‘Settlor’ transfers assets to another person known as the ‘trustees’ for them to deal with in a predetermined manner for the benefit of nominated person known as the ‘beneficiaries.
Our Trust department creates and administer trusts, which can be used to hold a variety of assets, from simple shareholdings in a company to a complete estate. MPH team consists of qualified trustee professionals who have worked within this sector for many years on a variety of Trusts. The use of Trust structures provides many opportunities for tax and estate planning. The trust is a concept becoming more and more widely known and used outside its traditional English speaking common law countries, because of its considerable benefits in tax mitigation, asset protection and inheritance planning.
We provide a full administration service including arranging trustee meetings, maintenance of records and provision of accounts. With the legal expertise at our disposal, we can also provide independent advice on trust related matters.
Due Diligence
The directors of MPH are obligated by law and company policy to go through the process of information gathering to evidence that due diligence was applied in making the decision to enter into the business relationship. The rule is "know your client". Irrespective of the form of the offshore structure that we are requested to form or administer, we are required to determine the identity and establish the bona fides of each prospective new client. Unless the prospective client is a public company, we look through any intermediate ownership structures and seek information on the ultimate beneficial owner. There is no set procedure on how to go about the business of information gathering, as circumstances will differ from client to client.
Generally, the basic information we require is as follows;
- A certified copy of the photograph page of the prospective client's passport or identity card.
- The certifier must be a suitable person, such as a lawyer, an accountant, a director or manager of an authorized credit or financial institution, a notary public, a member of the judiciary, a senior civil servant, a British Embassy official, or a serving Police Officer.
- The certification should be written on the face of the copy document itself rather than on an attachment and should state on the identification document that it is true copy of the original document. The certifier should include his/her signature, name in block capitals, daytime telephone number, profession, name and address of business or official stamp, and date on the document being certified
- A bank or professional reference from persons or organizations that have dealt with or have known the person for a period no less than two years.
- An original (or copy certified as explained above) utility bill, not more than 3 months old, (e.g.; gas, electricity or telephone (not mobile) bill) or bank statement or other official document showing the residential address of the person.
- An explanation of the reason for the establishment and expected activities and purpose of the entity (trust, company, foundation, partnership, etc.) together with an estimate of turnover and transactional activity.
- A confirmation of the source of funds to be injected into the entity (i.e. generated from what transaction or business) and the source of wealth of the beneficial owner of the entity.
- A form of confirmation of the occupation of the beneficial owner.
Where there are intermediate companies between the ultimate beneficial owner and the entity that we are requested to form or manage, we require confirmation that these companies exist, are in good standing and are properly managed, by reference to the Certificate of Incorporation, Memorandum and Articles of Association, (Bye-laws), Certificates of Good Standing and Incumbency, extracts from the appropriate Companies Register, the Annual Report and management accounts.
If the beneficial owner is a public company we require;
- a copy of the Memorandum and Articles of Association
- a copy of the latest annual report.
- a current listing of directors and officers certified by the company secretary.
- a copy of the board resolution of the parent company authorizing the formation of the entity that we shall manage identification documentation as specified above and references where necessary for key directors and any persons authorized to give instructions
The above information is not intended as a comprehensive guide to MPH due diligence requirements, full details may be obtained from MPH offices upon request.