Jersey's relationship to Africa - Accuro: Structuring for good causes
Accuro have a longstanding relationship with Southern African markets. They focus on the administration of structures that provide platforms for investment in and out of African countries in the following key categories:
International private client families
Accuro administer a number of trust and company structures set up by Southern African resident families to attend to succession planning. These structures are also established to help private clients diversify their currency, economic and political risk from emerging market economies into developed markets.
While the planning is standard, the management and administration of multi-jurisdictional families is complex.
For example, it isn't uncommon to have a family with their adult children resident in the US, UK and Canada.
Family business and co-investment opportunities
Accuro have also seen growth in structures established by South African businesses looking to expand into the UK and US using the same business models that have been successful for them in South Africa.
These clients want to diversify their holdings and dilute their investment risk by investing outside the country and in business sectors that they know well. The structures are tax transparent and approved by the local exchange control authorities, with the branch company being established in Jersey to hold the foreign assets. Property is a key theme but other investments in operating companies is also a growing feature.
Similarly, and because most of our clients are entrepreneurial, investments into Africa are made via offshore trust and corporate structures.
Philanthropy is growing and Accuro have established structures to benefit numerous causes in countries in Africa. The use of structuring provides families with the governance and reporting infrastructure necessary for such giving. Under the guidance
of philanthropy advisors, Accuro can help define the causes to support, build in a strategy, provide reporting on the structure’s impact and, where appropriate, assess its sustainability.
Published in Jersey Finance, Jersey's relationship with Africa, 26 February 2020