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Tax Engineering

Who is a fiduciary?


Question

Who is a fiduciary?

Answer

A fiduciary is a physical person, for example, a trusted attorney appointed by a natural or legal person, such as company or a bank, who takes a responsibility to administer personal loans and assets. The fiduciaries can use their name or offshore companies owned by them to achieve opacity in the administration of their client's assets. One of the main obligations of fiduciaries is a high level of loyalty and ability to prioritize the interests of the owner of the assets taking good care of them in accordance with laws. 




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