Background to US Trust Advisory Services LLC (“UTAS”)

UTAS is a Delaware LLC, which was formed in November 2016, and it is a wholly owned subsidiary of Offshore Consulting Services Limited (“OCSL”), which is an independent wealth planning company that has been in business for more than 20 years.

OCSL provides member and manager services, to UTAS, and has also retained International Tax Consultants LLC (“ITC”), an international tax advisory firm, to deliver the US Trust and US tax advice that UTAS clients will require.

Please note that ITC does not provide legal and/or tax opinions, as it is not a licensed law firm, but it will deliver legal and tax advisory statements, as its Managing Director is a highly experienced US tax lawyer. ITCL maintains a Florida office and also has an office in the Bahamas for clients who are interested in offshore entities. ITC can source US legal and tax opinions for clients who require them.

OCSL has been delivering wealth planning guidance, since 1996, including international trust advice. However, we decided to form UTAS, as a subsidiary entity, in order to “ring fence” our US Trust and Tax advisory services from OCSL’s usual wealth planning activities, which encompasses all other international financial centers (“IFCs”).

International Trusts are very different to US Trusts, and their related tax issues, so the separation of functions was deemed to be required, because we didn’t want a non-US company to deliver US advice, and especially US tax advice, as OCSL is also domiciled in the Bahamas although it’s main physical presence office is in the Isle of Man.

OCSL is known for the excellent client service, which it delivers, and also for its huge network of IFC contacts. OCSL’s motto is “if we don’t know it, then we know someone who does!”, as its CEO has held senior level positions with companies in 16 jurisdictions.

For more information on OCSL and ITCL please see the “Blogs” page.