What We Do
Private Wealth Planning
Cone Marshall offers diverse management structures for wealth and property including, real estate, art, aircraft, businesses, collections, bank accounts, and financial investments.
Cone Marshall provides trustee and related services in New Zealand, Switzerland, Uruguay, Hong Kong, England, Italy, and Wyoming, USA. These services involve the formation of companies, foundations, funds and partnerships in a variety of jurisdictions.
Trusts: Establishment & Management
Cone Marshall specialises in establishing and managing both simple and complex trusts for clients all over the world have enabled it to respond to the full range of facts that may motivate a family to establish a trust.
We have a special understanding of the unique needs and cultures of high net-worth families, which allows us to align their interests with their goals in a way that will best benefit them and their loved ones for generations to come. Once we have helped a client to identify their specific goals and objectives, we work closely with them to develop the necessary documentation for structure and governance and suggest the best practices for day-to-day management.
As we are sensitive to the particular needs of global families, a key part of the service we provide is working to regularise our clients’ positions so that they are fully compliant with all international laws and regulations. Cone Marshall itself adheres to and meets its compliance and regulatory obligations, and we pride ourselves on our ability to ensure our clients’ structures do as well.
Cone Marshall’s teams are trained and qualified to fulfil fiduciary duties in an array of languages, in jurisdictions around the world, including the United States, United Kingdom, New Zealand, South America, Asia, and Europe. We strive to carry out these duties our clients entrust to us in a way that supports each individual or family’s needs and circumstances.
Cone Marshall Limited (New Zealand)
Our expertise is in advising on, establishing and managing New Zealand based structures to hold property for our clients, to protect their assets, and provide for a family’s stability, succession and governance.
Through our New Zealand office, we can advise on, establish and manage both simple and complex trusts, which hold entities and assets across numerous jurisdictions. The firm can meet the wealth planning and succession needs of both domestic clients and those from all over the world.
New Zealand is a member of the Organisation for Economic Co-operation and Development (OECD), it has a well-developed infrastructure and is regularly cited as being a safe and politically stable jurisdiction in which wealth can be administered, protected and developed.
New Zealand trust law is derived from English trust law. Trust jurisprudence is robust and well understood by lawyers, judges and accountants.
New Zealand permits the establishment of foreign trusts which are exempt from New Zealand tax. In the typical case of a foreign settlor settling (non-New Zealand) assets into a New Zealand foreign trust for the benefit of non-New Zealand beneficiaries, such a trust would be exempt from income tax.
Furthermore, New Zealand does not have capital gains tax, inheritance tax and gift tax.
New Zealand as a jurisdiction provides the following features which are beneficial for international trust and wealth planning purposes:
- A member of the OECD group of countries
- A party to numerous important Double Taxation Treaties and Taxation Information Exchange Agreements
- Comprehensive anti-money laundering legislation
- Trusts may operate for a maximum of 80 years (soon to be extended to 125 years) and may be terminated at any time.
- A New Zealand trust may hold property, trade or operate a business.
There are some unique features of New Zealand trust law including the ability to have protectors, investment advisors and trustees with wide discretionary powers and the ability to add and remove beneficiaries. A protector or investment manager, who again need not be New Zealand resident, can be given relevant advisory and discretionary powers. New Zealand is not a signatory to the Hague Convention on Trusts and Their Recognition, and some aspects of New Zealand trust law are not compatible with the Convention.
Beyond our New Zealand presence, our team is trained and qualified to fulfil fiduciary duties in an array of languages, in jurisdictions around the world, including the United States, United Kingdom, New Zealand, South America, Asia, and Europe.