Foundations

The Isle of Man Foundation Act has now obtained Royal Assent and the Act is anticipated to come into force from 1st January 2012. The Foundation will be a new legal entity which combines elements of trusts and companies.

Foundations offer an alternative to a trust in civil law jurisdictions where trusts are not legally recognised. It is also a vehicle that may be better suited to the needs of clients who might otherwise set up a trust but require limited liability protection. Boston is committed to staying on the cutting edge of wealth structuring, and as such we offer expertise in establishing these relatively new structures. Our services include:

• Tailoring foundations to an individual’s needs and personal circumstances
• Tax efficient establishment and administration of the foundation
• Provision of Members of the Council (similar to trustees)
• Registered Agents
• Corporate Governance
• Accountancy, tax and administration services