US Trust Advisory Services LLC
Miramar, Florida, United States
Ed Rogers is a British citizen, through his parents, as he was born and spent his formative years in Nigeria. He relocated to England, at the time of the Biafra War, and completed his education, at the University of Bradford, by obtaining an BSc (Hons) degree in Industrial Technology and Management (an engineering discipline). Ed commenced his financial services career when he moved to the Isle of Man (IOM), in early 1988, to serve as Manager of a small company called Rogers Services Limited, which he now owns, as it was founded, in 1979, by his late father, Brian Rogers OBE. Ed has subsequently lived in many other countries and believes that he is likely to be the only financial services professional, in the entire world, to have held senior-level roles with trust business companies, in 16 jurisdictions, including BVI, New Zealand, Singapore, Switzerland, Dubai and Hong Kong. During his career, Ed has served as Head of Trust Services, for two international groups, and he is an expert in trusts and trust administration. Ed has also been the MD or MD equivalent of more than 12 trust business companies in 10 jurisdictions. Many of these companies were start-up ventures that were established for the benefit of leading trust groups including the Trident Trust Group, the Intertrust Group and the Amicorp Group. In August 1996, Ed formed Offshore Consulting Services Limited (OCSL) and OCSL continues to deliver wealth planning advice and assistance to HNWIs and fiduciary organisations to this day. In November 2016, OCSL established an US subsidiary called US Trust Advisory Services LLC, which delivers tax and legal advice plus formation services, for US entities, including single member LLCs and US Hybrid Trusts. Ed also currently acts as a fiduciary services or wealth planning consultant to other firms including Global Trust Group FZE and ADAM Global, in the UAE, the law firm Goldman Weiss & Co., in Australia, and Swiss Mutual Trust in Switzerland. Among his many career highlights, Ed has been a speaker at professional conferences and seminars, as well as hosting many training workshops. He is qualified as an accountant and a Chartered Secretary, plus he is also long-term STEP member, and he has numerous professional connections due to his worldwide trust business experience. Ed is based in the IOM, where he has his primary home, but he also maintains residences in the USA and the Philippines for the time being.
UTAS was established, in 2016, as a direct consequence of the introduction of the OECD's common reporting standard (CRS), which provides for automatic exchange of transactional information between member countries.
As the USA has not participated in CRS, we recognized that this would trigger a tremendous interest, for non-US persons, to redirect their investments through US financial institutions. We also believed that many of these non-US persons would choose to have their investment portfolios held in the name of US LLCs and US corporations or through US Trusts (US entities).
With vast international experience, plus US legal and tax knowledge, the UTAS team can assist international clients to navigate the legal and tax minefield, which applies to US entities, so as they can effectively invest into the USA, or through the USA, by establishing US entities.
UTAS also has a team member, who is a FATCA and CRS specialist and can advise on all issues relating to those tax reporting initiatives.
UTAS also delivers legal and tax advice, to establish a US Trust, including trust deed drafting, for low to moderate complexity trusts, at much cheaper rates than a US law firm. (For complex trusts, we recommend that you use a US law firm that UTAS is affiliated with). Our non-US parent company can also offer foreign protector services, for US Hybrid Trusts, which are foreign trusts for US tax reporting purposes.
US LLCs and US Corporations
Most of our foreign clients will prefer to use US LLCs, to hold their US situs assets, as they are disregarded entities, for US tax purposes, if there is no US source income. Nevertheless, some of our sophisticated clients may use US corporations, to hold investment portfolios, as the profits tax can be less than the withholding tax, on investment gains, for foreign-owned LLCs.
UTAS can deliver legal and tax advice necessary to form a US LLC or corporation. We can also provide formation services, in all US states, working in conjunction with US registered agents.
See the UTAS website for further information.