Andco Trust and Corporate Services has secured a licence to offer trust services on the Isle of Man.

The firm said that the approval marked a pivotal expansion of its business, positioning it as a comprehensive provider of corporate and trust solutions on the island.

It stated that trusts were invaluable tools for wealth management as they offer asset protection, tax efficiency, and succession planning services.

With the granting of the new licence, Andco will provide a range of trust and fiduciary services, including the establishment and administration of trusts, estate planning, and asset protection.

“These services are designed to cater to the bespoke requirements of clients who utilise sophisticated financial structures to manage their wealth effectively,” Andco said in a statement.

“The Isle of Man is known for its robust regulatory framework and favourable business environment, making it a preferred destination for high-net-worth individuals and corporations seeking reliable fiduciary services.

“Obtaining a licence to offer trust services is a testament to our commitment to meeting the diverse needs of our global clientele, and reaffirms our aim to support clients in managing, protecting and enhancing their wealth across generations with the highest standards of professionalism and integrity.”

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