We'd love to talk to you, so if you would like some more information please contact us. We look forward to hearing from you.

info@sturgessvandamme.co.uk

Telephone: +044 01275 349 011

Fax: +044 01275 349 368

A UK FORMULA PROVIDES THE SOLUTION TO NEW TAX RULES FOR WEALTHY ITALIANS

Jordans International creates a twin-nationality Jersey Trust formula

New Italian tax laws impose new threats to wealthy Italians wishing to conserve family assets in offshore trusts, but a new UK-based formula provides a tax-efficient solution.

Italian legislation, introduced last year, now treats income from offshore trusts as liable to full taxation in Italy. But experts at Jordans International, the UK‘s leading trust and corporate services provider, have formulated response to the legislation.

According to Martin Palmer, Director of Jordans International: “We have developed a trust model that meets the concerns of the Italian legislators, but enables Italian clients to continue to benefit from tax-efficient trust planning.”

With offices in the UK, Jersey, Cyprus, the British Virgin Islands and the Seychelles, Jordans is ideally placed to provide clients with strategic cross-border tax solutions.

“The new Italian legislation is focused on ensuring transparency, viewing most offshore arrangements as lacking the treaties to provide that transparency,” adds Martin Palmer.

“So it now presumes Italian residency for offshore trusts created for Italian settlors and beneficiaries. We are using UK trustees to meet this problem, whilst avoiding any UK tax problems for the trust through careful structuring.”

ENDS                         17th September 2008

For further information please contact Neil Fraser, Sturgess Van Damme, on 01275 349 011 or email neil@sturgessvandamme.co.uk