READY FOR THE NEW WAY OF TRUSTEESHIP?
ATAG Swiss Trustees Ltd sets course for a successful future: the company has received its professional trustee authorization from the Swiss Financial Market Supervisory Authority FINMA, in line with the Federal Act on Financial Institutions (FinIA). ATAG Swiss Trustees is one of the very first firms to receive a license and now numbers among the initial 5% or so of Trustees in Switzerland to receive this sought-after certification.
Trustees who took up their activities prior to 1 January 2020 now need to be authorised by the Swiss Financial Market Supervisory Authority FINMA by the end of 2022. ATAG Swiss Trustees Ltd, based in Basel and part of the ATAG Group, has successfully completed the highly challenging process of acquiring authorisation and has been granted FINMA certification. This puts ATAG Swiss Trustees among the first 5% or so of around 330 trustees in Switzerland to receive this sought-after certification under the Swiss Federal Act on Financial lnstitutions (FinlA).
Various conditions need to be met in order for a company to be certified as a Trustee, such as satisfactory risk management, internal checks, an appropriate amount of equity capital and adequate collateral. The certification, which Swiss Trustees will be required to have from 1 January 2023 onwards, guarantees that Swiss financial services are being rendered at the high level of quality expected.
Since 1917, the efforts of the ATAG Group has been uncompromisingly oriented towards the needs of its national and international clientele. The fact that ATAG Swiss Trustees is one of the first certified Trustees in Switzerland fills us with great pride and benefits our clients completely – focused, loyal and efficient. Since the beginning of ATAG's more than 100-year history, we have assisted entire generations in the planning, establishment and long-term management of their assets and structures, both in our capacity as trustees and as advisors.
Why do you need a Trust?
Trusts are internationally highly valued vehicles for satisfying cross-border succession arrangements. In particular, Trusts allow to largely avoid conflicts of private international law. In addition, a trust can perform commercial, financial as well as protective functions such as
- Asset protection
- Asset structuring
- Holding property
- Asset management
- Tax optimisation
- Protection and child support trust in the event of divorce
- Spendthrift trust
- etc.
Although Switzerland does not (yet) have its own Swiss trust law, Trusts are recognised in Switzerland. This has been the case since 1874 and legally since Switzerland ratified The Hague Trust Convention in 2007.
Our values, your benefit - About ATAG PCS Ltd and ATAG Swiss Trustees Ltd
ATAG Private & Corporate Services Ltd was founded in Basel in 1917 as ATAG Allgemeine Treuhand AG. The company formed part of Ernst & Young's international network from 1960 onwards before being passed into the ownership of its current partners in 2001. ATAG Attorneys Ltd, an internationally active law firm specialising in commercial and tax law, and ATAG Family Office were created under the ATAG brand in 2016 to meet clients' needs. ATAG Swiss Trustees Ltd, formerly Gérance Trust Ltd, was founded in 1945. lt is now carrying out its services as a certified trustee under a new name - but its quality remains as high as ever.
What drives us are the ambitions of our clients - in Switzerland, in Europe and worldwide. We are uncompromisingly committed to this. Our mission describes it well: "We relieve our international clientele by taking full responsibility for the successful implementation of the corporate and private matters entrusted to us."
Based on our core competencies in law and tax, we have built up comprehensive expertise and service areas over a good 100 years. As a result, we are always in a position to make decisions for our clients that are legally sound - regardless of their geographical reach.
The demands and requirements of the entrepreneurial families we represent increase from year to year and new issues are constantly being added. With our international network, we monitor developments very closely and draw the right conclusions for our clients. In many cases we represent the interests of important entrepreneurial families independently because we know what is wanted. We regard this as a reward for the trust placed in our work. Our response to this trust is the unconditional loyalty to our clients that sets us apart.
Our Competencies
As a comprehensive service provider for leading clients and entrepreneurial families, we have built up a wide range of competencies and gained major experience. We apply these skills to the fullest extent for our clients, as well as in support of our clients' partners and companies.
The service portfolio of ATAG Swiss Trustees Ltd includes the following areas of expertise:
- Attorney mandates, legal advice, implementation of transactions
- Advice on all tax matters, comprehensive and efficient
- Representation before authorities
- Protection and structuring of assets
- Corporate structuring
- Financial strategies and transactions
- Estate planning, wills and executorships
- Outsourcing of legal departments: Taking over the corresponding tasks
- Account opening, advice on all matters relating to financial transactions
- Philanthropic administration
- Management of special assets such as art and jewellery collections, yachts and aircrafts
- Tax advice
- Immigration and relocation
Memberships
ATAG Swiss Trustees Ltd is a member of the Swiss Association of Trust Companies (SATC). SATC is dedicated to contributing to the professional and ethical development of the trust industry in Switzerland. The main objective of SATC is to encourage the growth of the trust industry while maintaining high standards of quality, integrity and professionalism.
ATAG Swiss Trustees Ltd is also - through some of its key persons - a member of the SOCIETY OF TRUST AND ESTATE PRACTICIONERS (STEP). STEP was founded in 1991 as an association in which trust specialists could network with each other. Today, STEP unites experienced practitioners who have a wealth of qualified experience in the field of estate planning and trusts. The need for this association is reflected in the steadily increasing number of members as well as in STEP's presence in numerous countries around the world. The establishment of STEP has resulted in a highly specialised and successful association that is growing rapidly and expanding worldwide. All these are signs of a young international society looking to the future.
Our Mission, your Success
Thanks to the interdisciplinary collaboration of all ATAG companies, each of our clients benefits from all our services from a single source. This sets us apart from other consulting firms. Thus, by focusing above all on a pragmatic and effective approach, we assist and support our national and international clients in terms of advice and planning. We also assume the responsibility for the concrete implementation of the social and private mandates entrusted to us.
Contact
"Establishing and looking after trusts has been part of the ATAG Group's portfolio of services ever since the company was founded in 1917. As one of Switzerland's first certified trustees, we are now continuing this tradition under the new law," explains Dr lgor Rusek, member of the Board of Directors of ATAG Swiss Trustees Ltd. "The entire licensing process was a real challenge for our team - we're absolutely thrilled to have reached our goal".
"We're proud and delighted to be one of the "early birds" certified as a trustee by FINMA," adds Gabrielle Perregaux, Managing Director of ATAG Swiss Trustees Ltd. "The certification allows us to plan with an eye to the long term, while continuing to offer our international clients all the services they desire. This is complemented by services from our ATAG Family Office and the support provided by the lawyers at our law firm, ATAG Attorneys, in particular."
