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Global Advisory Committee -  Monaco

Derek R. Smith

Managing Director

Derek Smith is the owner and managing Director of Monaco Corporate Secretariat.

Derek is married and lives in Monaco. He was born in 1962 in New Zealand and was educated at Kings College, Auckland, after completing a Bachelor of Commerce degree from Auckland University in the early eighties he trained with TOUCHE ROSS & CO, Chartered Accountants in both Auckland and London and is a qualified Chartered Accountant (N.Z.). During the mid eighties he emigrated to the Cote d'Azur and has for fifteen years consulted with offshore professional firms in Monaco and Luxembourg on intra European and international tax planning, trust and corporate administration, and business advisory services. Derek is a British national.

Monaco Corporate Secretariat was formed by Derek in 1998 to offer international tax planning and administration services from Monaco. In that year also it became the Monaco representative of MacIntyre Sträter International, a world-wide association of independent professional firms.

- M.C.S. offers clients complete international tax planning by analysing a clients (whether individual or corporate) circumstances, trading patterns, income & capital flows; and then designing structures to minimise taxation and protect assets. These structures may well use companies and trusts which M.C.S. can incorporate and manage. As structures tend to be be-spoke, costs depend on the time spent in preparing the initial analysis and the charges of incorporating and implementing the structure.

- Monaco as well as offering individuals a tax-free existence may also be a corporate tax haven for non-Monegasque or French companies and trusts. M.C.S. has a Monaco government licence to administer, incorporate, dissolve and generally look after any trust or company or trust except for French and Monegasque companies. The companies and trusts that M.C.S. administer are not taxable in any form (income, capital gains or wealth) by the Monegasque authorities. M.C.S. has thus successfully answered the question commonly asked when setting up structures using an I.B.C. of where can an I.B.C. be administered from without incurring a tax liability (not in the jurisdiction of incorporation and not in the jurisdiction of where the transaction occurs). Thus invoicing can be made, board meetings held etc. without compromising a company or trust's tax status.

- Derek SMITH (in a personal capacity) is a registered Monaco trustee (only twenty in Monaco), and can write (in conjunction with a Monegasque Notary) law 214 trusts

Derek has been a member of the Institute of Directors since 1989 and in 1996 was elected to the board of the Institute of Directors, Monaco Branch. He is also a member of the International Tax Planners Association, Society of Trust & Estate Tax Practitioners, Monaco Compliance Officers Association, Asia Offshore Association and is the immediate past President of the Monte Carlo Cricket Club.

EDUCATION

1987 Professional qualification : Chartered Accountant (N.Z.)

1983 Degree : Auckland University, B.Comm. - Marketing, Commercial law, Economics, Computer programming, Systems design and Accounting

PROFEEIONAL ASSOCIATIONS & INTERESTS

I.O.D. - Treasurer of the Institute of Directors - Monaco Centre
I.T.P.A. – Member of the International Tax Planning Association
T.E.P. – member of the Society of Trust & Estate Practitioners
A.O.A. – member of the Asia Offshore Association
Cricket – ex President of the Monte Carlo Cricket Club

Contact Details

Monaco Corporate Secretariat
Suite 164, Le Panorama AB
57, rue Grimaldi, B.P. 66
MC98002 Monaco Cedex
Tel: +377 97976230
Fax: +377 97976233
Email: assetprotect@libello.com

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