Fiduciary services in Japan imply managing the assets for an individual or a company. Fiduciary services are quite often used in Japan, being generally requested by foreign entrepreneurs who do business in this jurisdiction. In this article, our company formation consultants in Japan explain what our fiduciary services are comprised of and answer other important questions related to this subject.
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What types of fiduciary services in Japan do you provide?
Among the fiduciary services which we provide in Japan, we mention:
- – Accounting services: we offer accounting services for our clients, upon request;
- – Business services: these consist of building the service systems to provide value to the clients of the company;
- – Company secretary services: they may include administrative services, especially in connection to making sure the statutory and regulatory requirements are met;
- – Trustee services: we provide a wide variety of financial services which can serve individuals, families and corporations;
- – Nominee shareholder services: the purpose of a nominee shareholder is to maintain the client secrecy;
- – Nominee director services: a nominee director is an individual who acts as a non-executive director on the company board of directors;
- – Our company registration agents in Japan also offer a wide variety of corporate fiduciary services.
What means a fiduciary duty?
A fiduciary duty means that a person (the fiduciary) holds the asset management responsibility. The individual tp whom he or she owns this duty is usually called the principal or the beneficiary.
Fiduciary duties are put in place to encourage specialization and inducing individuals to enter into fiduciary relationships. Through adopting these duties, the legislation reduces the risk of mismanaging the assets of the beneficiary by the fiduciary.
Our Japan company formation advisors can provide more details on this subject. We can also assist investors to open a company in Japan.
What are the main responsibilities of a fiduciary in Japan?
The fiduciary is responsible for accounting if he or she is proven to have acquired a profit in one of these means:
- In case there is a conflict of duty and interest;
- In case there is a conflict of duty to one individual and duty to another one;
- If the fiduciary has taken advantage of his or her position;
- If the fiduciary has disclosed and unfairly managed unavoidable conflicts, which are not in the beneficiary’s interest.
What does corporate fiduciary mean?
A corporate fiduciary is a legal entity which acts for the benefit of another company. A corporate fiduciary has the responsibility of managing the financial assets of a certain corporation.
Such a fiduciary often has the legal authority to utilize the assets of the beneficiary in such a way as to result in a profit for the owner of the assets. Our company registration agents in Japan can offer further information on this matter.
What do your corporate fiduciary services in Japan include?
Our complete corporate fiduciary services in Japan are comprised of:
- – Nominee shareholder services;
- – Director and secretary services in Japan.
Fiduciary services are generally required by entrepreneurs who intend to protect their identity.
What is a fiduciary financial advisor?
A fiduciary financial advisor is a person who has the obligation of placing his or her clients’ interest higher than their own.
Such a position implies providing financial services only in the client’s best interest, not with the purpose of boosting the financial advisor’s commission or earn the bonus at the end of the year.
What is a fiduciary agreement?
A fiduciary agreement generally is a contract in which an individual transfers the ownership of an asset to another individual (the fiduciary).
The latter will be in charge of exercising the ownership rights on the former’s behalf and re-transfer the asset to an appointed individual at the end of the agreement.
What does a fiduciary agent mean?
All the agency relationships are fiduciary ones. This implies that the relationship is made of a high level of trust between the beneficiary and the agent.
Since the beneficiary entrusted the agent to oversee or protect his or her assets, the agent owes a fiduciary obligation to the beneficiary.
If you have more questions about the fiduciary services we provide in Japan, or for assistance in setting up a company in Japan, please do not hesitate to contact our friendly staff.