ABLV Bank, AS|
23 Elizabetes Street
Riga, LV-1010, Latvia
Tel: +371 6777 5222|
Fax: +371 6777 5200
Client line: +371 6777 5555
Wellbeing of your family greatly depends on protection of your capital against your business risks.
Asset protection is a complex solution primarily intended for securing family wealth against business and political risks associated with business of the family head. This kind of protection can be ensured by using special structures (trusts, foundations) and proper transfer of your assets to those structures. Sometimes, endowment life insurance can be used for asset protection as well.
Besides providing advice on asset protection, preparing respective legal or tax opinion, registering desired structure in one of the licensed jurisdictions, we are also ready to ensure communication with managers and offer you payment administration services. We also recommend you to consider the opportunity of receiving Latvian residence permit, which allows you to freely travel across the European Union.
Contact your private banker to receive a solution
tailored exactly to your needs!
Trust is popular instrument used for planning family wealth, and it forms an efficient secure structure, which is protected against risks of the trustor and beneficiaries (such as creditors’ claims, divorce proceedings, etc.).
Private foundation is a trust equivalent used in civil law countries (i.e. most European countries). The concept of a private foundation emerged in Lichtenstein more than hundred years ago, and thus an instrument for protecting and planning family wealth appeared.
Endowment life insurance policies provide a convenient instrument for protecting personal and family assets and structuring their ownership. This allows transferring liquid assets to an insurance company in exchange for an insurance policy having equal value. Beneficiaries that should receive payments upon occurrence of an insured event are stated in the policy.
Efficient centralized management of wealthy family assets can be ensured by using investment fund. These are investments meeting high responsibility standards.
The client is married, and he has minor children. Together with the client we identified his main goals, which were subsequently consolidated into a trust agreement:
The tasks were solved by registration of the trust with licensed managers and the appointment of our subsidiary company as its protector.
Head of Private Baninkg Department North