Regulatory framework and supervision
Kiltoprak Trust Company NV
Providing so-called trust services is strictly regulated in the Netherlands. Under the Act on the Supervision of Trust Offices 2018 (Wet toezicht trustkantoren 2018 or Wtt 2018) it is prohibited to provide trust services without a licence.
The following services are defined as Trust services by the Wtt 2018:
- Providing directorship services to a legal entity of belonging to a third party;
- Providing an address to a legal entity of belonging to a third party together with at least one of the following additional activities:
- Accounting and bookkeeping services;
- Legal or corporate secretarial services;
- Tax consultancy or preparation of tax returns;
- Recruitment of directors for legal entities or partnerships;
- Selling or providing intermediation services in the sale of legal entities;
- Acting as trustee.
Kiltoprak Trust Company NV is fully licensed by the Dutch Central Bank (De Nederlandsche Bank) to provide management and other trust services in the Netherlands and has implemented a robust and efficient client acceptance and due diligence procedure in line with the legal requirements on amongst others anti-money laundering & counter terrorist financing in this respect.
Kiltoprak Corporate Services SA
Kiltoprak Corporate Services SA is a member of Association Romande des Intermédiaires Financiers (ARIF) (www.arif.ch). ARIF, founded in Geneva on March 15th 1999, is a self-regulating body approved by the Swiss Financial Market Supervisory Authority (FINMA) (www.finma.ch) in Bern for the supervision of the financial intermediaries referred to in article 2 para.3 of the Swiss Federal Law on combating money laundering and terrorism financing in the financial sector(AMLA).
ARIF is also recognized by FINMA as a professional organization for laying down rules of conduct relating to the practice of the profession of independent asset manager within the meaning of the Swiss Federal Act on collective investment schemes.
ARIF currently has more than 490 members and is open to any non-banking financial intermediary acting in Switzerland.