Working with One of Europe’s Largest Asset Managers

Solution

BKS provided director, management, administration, statutory, nominee and compliance services the client’s special purposes vehicles (SPVs) in Jersey, working in partnership with their Luxembourg managers (six companies in each location).

The SPVs invested in commercial real estate (warehouse logistics, office and hotels) through French, German, and UK subsidiary holding companies, also Guernsey Property Trusts.

BKS worked with professional service firms providing audit, tax, accounting and legal services in managing the overall structure. Work involved:

• Dealing with all aspects of real estate management – purchases, sales, leases, lease extensions, property agents and insurance.
• Ensuring compliance with tax advice for management and control, quorum and economic substance purposes.
• Preparing reviewing and approving budgets, forecasts, quarterly management accounts, consolidated reporting packages and jurisdictional tax returns.
• Managing and calculating inter-co loans and interest computations.
• Managing shareholder returns through distributions and redemptions of shares following successful real estate exits.

Results

The tax efficient structuring involved assisting the SPVs in managing their European cross-border financing, holding and operating companies.