Why December Is Key For Trust & Business Planning - Acquarius

[Liz Seyi]

Use December wisely to plan trust structures and business affairs. Acquarius MD Oliver Andlaw shares insights for a productive pre-Christmas season.
In our household, I insist that we do not hang decorations, sing carols or indulge in mince pies until 1st December. It is astonishing how early Christmas seems to arrive in the commercial world, but then again, I recently saw hot cross buns on sale in London, so why should I be surprised?
I am strict with my children to ensure that the family truly appreciates December as a special month. I had to explain to someone recently that Christmas does not fall until 24th December. For Christians, December is known as Advent and is a time of preparation anticipating the arrival of Christ. Advent begins on the fourth Sunday before Christmas – convenient for our family as it happened to fall on 1st December this year.
December is an ideal time to plan both business and personal affairs. Reflecting on Advent, it seems like a fitting analogy as one year ends and another begins.
Given the tumultuous events of the past year, including elections worldwide, I have been considering what advice to offer Acquarius' clients and their advisers during this festive season. While I will share more about the past year in my Christmas message next week, planning for the years ahead will be crucial.
I am passionate about trust work and corporate structures, especially using Gibraltar as a base to launch businesses across Europe and beyond. Many clients ask why trust and company structuring take so long, especially when they already know what they want to achieve and can afford the fees. There are two main reasons.
First, increasingly detailed and specialised advice is necessary to maximise the protection offered by any planned corporate or trust structuring. This is largely due to new legislation and regulations designed to combat tax evasion and terrorism funding. While well-intentioned, this makes life more complex for businesses and clients. I have written extensively about the UK’s 2024 Budget and its impact, but every country has complex rules that require careful attention when establishing structures. Many of our clients are cross-border, so they must comply with multiple countries’ rules, making expert advice even more critical. The importance of getting the advice right is clear, but it takes time and can be costly.
Second, while Acquarius can often complete the necessary paperwork in a couple of weeks, other parts of the structure may take longer to fall into place. For example, in setting up a company, we need the relevant advice before incorporating the business, and we can only start the process of establishing a bank account after incorporation. Even with the best intentions, the amount of time required to complete everything can be surprising.

Returning to Advent, I understand that if one is only now considering a trust or corporate structure, it is unrealistic to expect everything to be in place by year-end. However, using December to lay the groundwork is beneficial. Despite the common belief that “no one is working at this time of year,” it is not true. At Acquarius, we have already held our Christmas party and proudly supported the local GBC Open Day appeal. But the work does not stop, and we remain available for clients in the run-up to Christmas. If you or your clients are planning, please reach out so that we may guide you as you prepare for a busy few months ahead.
My yuletide message, with a year-end sign-off, will follow next week. In the meantime, if you are thinking of change in 2025, now is the time to start serious preparations. Enjoy the rest of Advent.

[ramy]

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