For the Private and Corporate Client
Global Access Local Presence Worldwide Expertise
Business and Beauty
The Bahamas, Barbados, and the Cayman Islands are world-famous as holiday destinations. Balmy climates, idyllic beaches and luxurious resorts make these island environments uniquely attractive to vacationers. Similarly unique financial environments make these same islands equally attractive for a host of other, more practical reasons.
For nearly a century now, Royal Bank of Canada has been bringing the financial advantages of these offshore environments to its clients. Thanks to their long-standing democratic traditions, political stability and sophisticated legislation, these islands now rank among the world's foremost offshore financial services centres. Each has a strong, stable work force and a sophisticated professional infrastructure in all relevant legal and financial disciplines. They are also located in time zones that are convenient for those clients in the major centres of North and South America, as well as many in Western Europe.
There are no taxes of any kind on income, capital gains or inheritances for individuals, trusts or companies in these islands, with the exception of Barbados, which is a low-tax jurisdiction.
Offices in each location are locally incorporated, wholly-owned subsidiaries of Royal Bank of Canada. Each is therefore governed and protected by the sovereign jurisdiction of its particular location.
Through Royal Bank of Canada's local presence in these key locations, individuals as well as corporate and institutional clients obtain global access to the comprehensive expertise and services of a major world-wide financial institution.
A Close Personal Relationship
Your relationship manager is personally committed to helping you achieve your financial objectives.
The Private Client Service Relationship
Highly-skilled personnel in Royal Bank of Canada's offices in The Bahamas, Barbados, and the Cayman Islands have extensive experience in offering clients the special advantages of their islands. Each client receives services tailored specifically to their personal needs. Through a single point of contact in any of these offices, clients also have access to the Bank's entire global network of resources to supplement local services whenever necessary.
In all cases, the client receives seamlessly integrated service, which is continually refined and updated through regular review meetings. Where appropriate, the Bank also works closely with clients' independent financial advisers to help achieve individual objectives. For a rapidly increasing number of clients with international financial interests, these offshore offices have become a vital part of their financial management.
Our Services
The mix of services covers three broad categories:
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formation and management of international trusts and offshore companies,
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discretionary and advisory investment management, and
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international banking services.
International Trusts
Helping you preserve the money you've worked so hard for.
International Trusts
International trusts can play an important role in personal estate planning. They are created when an individual transfers ownership of assets to a trustee who is legally obliged to hold or use them for the benefit of specified people, as determined by the client in the trust document or deed. Transferring the legal ownership of assets to the trustee may provide several important advantages for preserving personal wealth.
An international trust affords greater flexibility in transferring wealth to future generations, while also enhancing personal and family confidentiality. Working closely with clients and their professional advisors, trust structures may be used to mitigate inheritance taxes, succession or death duties, and may provide protection from home country restrictions such as forced inheritance laws.
Offshore Companies
Offshore companies can be important vehicles for accumulating and preserving assets. These companies may also be useful in transferring valuable ownership rights such as royalty income on patents and copyrights.
Many clients use an offshore company arrangement to consolidate and manage all their diverse assets under a single legal entity. As it is a legal entity, clients can benefit from the continuity of its existence.
Under reliable, long-standing legislation, investments may be sheltered in these companies with complete security and anonymity. Offshore companies may be established under very broad charters, allowing for maximum operating freedom.
Investment Management
A globally diversified investment approach that focuses on fundamentals and a long-term perspective.
Investment Management
International investment services are another major category of service for both individual and corporate clients of offices in The Bahamas, Barbados, and the Cayman Islands. Discretionary portfolios are carefully structured to accommodate the specific risk/ return preferences of each client. Royal Bank of Canada Global Private Banking has achieved consistently strong investment performance through prudent diversification within a disciplined, conservative overall strategy. Global diversification enables investors to take maximum advantage of world-wide financial opportunities wherever they arise.
All investment portfolios benefit from the global expertise of the Bank's Royal Investment Strategy Committee. This group, which includes investment specialists based in many of the world's major financial centres, maintains a constant watch on world-wide economic developments, and makes timely adjustments to investment strategies whenever necessary. Our collective goal is to earn higher than average returns on all portfolios managed by the Bank.
International Banking
Services that provide globe-spanning convenience, security and peace of mind.
For private clients who prefer to take an active role in their investments, we offer advisory programs which leave investment decisions in the hands of the client. To put their own investment decisions into action, clients simply contact their relationship manager. For those who want comprehensive advice and information, full brokerage service capabilities are available through RBC Dominion Securities.
Portfolios are reviewed in regular meetings with each client, and changes to strategies and portfolio structures may be made at any time to accommodate personal financial needs and objectives.
In addition to these individual portfolios, the Caribbean and Atlantic offices also offer mutual funds as alternative investment vehicles. These and other investments may be combined with international trusts to create a complete personal financial program to preserve and increase wealth.
International Banking Services
Complementing this array of trust and investment services is the full range of international banking services available through these offices.
For clients with business and financial interest in several countries, international banking services can simplify financial management, enhance security and expedite transactions.
These include bank accounts, term deposits, cash management and foreign exchange transaction services in multiple currencies, as well as custodial and safekeeping services. These offices can also facilitate online banking, letters of credit, credit cards and financial guarantees for its international clients.
Corporate and Institutional Capabilities
The Corporate and Institutional Service Relationship
Corporate and institutional clients may also obtain tailored, specialized services to meet their international priorities. Working with your professional advisor, these services can maximize international earnings, provide substantial extra value from cross-border operations and trading, and economically outsource certain corporate functions.
For both large multinational corporations and smaller enterprises with international interests, choosing appropriate structures and locations for financial arrangements can be critical to attaining strategic goals.
Royal Bank of Canada Global Private Banking offers a comprehensive range of financial service solutions to corporations and their advisors such as:
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third-party mutual fund administration,
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management of banks and trust companies,
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full range of banking services for captive insurance managers,
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employee benefit plans
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fiduciary capacity for structured finance vehicles and securitizations, and
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escrow agent
How May We Help
Financial Stability in a Dynamic Environment
The emergence of a truly global economy has created a new financial world in which all major economies and currencies are as likely to be affected by distant events as by local ones. As well, growth opportunities often emerge far from the investor's home country.
In this new world of global challenges and opportunities, Royal Bank of Canada's offices in The Bahamas, Barbados, and the Cayman Islands, offer stability and security within jurisdictional environments known for privacy and innovation. Making use of the advantages offered by these islands has now become an essential part of sound financial planning for many corporations and wealthy individuals.
Approaching any of these four offices opens the door to the full range of Royal Bank of Canada's international services. A preliminary discussion quickly determines the required mix of services, and the most appropriate jurisdictions in which to make arrangements. Your Global Private Banker then coordinates the necessary activities to achieve individual objectives in the most efficient manner.
To bring the advantages of Royal Bank of Canada's offices in the Caribbean and Atlantic to your personal or corporate financial plans and programs, please contact:
Royal Bank of Canada Trust Company (Bahamas) Limited
Royal Bank House, East Hill Street, P. O. Box N-3024
Nassau, New Providence, Bahamas
Tel: (242) 356-8552 Fax: (242) 323-3407
E-mail: gpb.bahamas@rbc.com
Royal Bank of Canada (Caribbean) Corporation
P. O. Box 986, 2nd Floor, Building 2, Chelston Park
Collymore Rock, St. Michael, Barbados
Tel: (246) 429-4923 Fax: (246) 429-4948
E-mail: gpb. barbados@ rbc. com
Royal Bank of Canada Trust Company (Cayman) Limited
P. O. Box 1586 GT, Cardinal Avenue, George Town
Grand Cayman, Cayman Islands, British West Indies
Tel: (345) 949-9107 Fax: (345) 949-5777
E-mail: gpb.caymanislands@rbc.com
Royal Bank of Canada Global Private Banking is an integrated global financial services resource. We presently serve individuals and corporations from over 150 different countries. There are 22 Global Private Banking offices linked in a network that extends through every major economic region and international centre.
Prudential Control
All Royal Bank of Canada group of companies take great pride in the enviable reputation for internal corporate governance that the parent company has demonstrated over the years.
Global Private Banking continues that tradition with a strong emphasis on detailed Know Your Customer procedures to combat money laundering and fraud, both against the Bank and its corporate and personal clients. The Bank is a member of the International Banks Security Association and issues regular intelligence on international financial crime to local officers.
Many Global Private Banking entities have resident compliance officers who work in co-operation with local regulators to ensure that all local laws, regulations, codes of conduct and prudential controls are followed. Brochures and marketing material are subject to rigorous examination and review before release. Independent review of customer complaint procedures ensures that the highest standards of integrity are enforced.
Resident internal audit exists in all our larger Global Private Banking units backed by expert head office teams for different risk categories. These include EDP (electronic data processing), treasury, finance, credit, and wealth management. Independent reporting lines and proactive relationships with head office and external auditors provide the strongest support for the local audit teams, who operate a continuous and wide ranging programme.
Royal Bank of Canada Global Private Banking units are committed to providing the highest standards of operation and protection for client assets. The provision of this resource at both global and local levels demonstrates an unsurpassed commitment to the highest ethical standards of operation and customer care.
Domestic depositor and investor protection legislation, supplemented by individual Regulators and Regulatory organizations, may require prudential declarations to be given by us in advertisements and publications for many products and services. All Royal Bank of Canada Global Private Banking units are licensed under the domestic legislation of the jurisdiction in which they operate and are subject to local regulatory supervision.
This brochure is issued by Royal Bank of Canada Trust Company (Bahamas) Limited, Royal Bank of Canada (Caribbean) Corporation, and Royal Bank of Canada Trust Company (Cayman) Limited.
World - Class Credentials
Royal Bank of Canada is Canada's largest financial services enterprise
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It is one of the world's largest banks, providing a wide range of corporate and personal financial services
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The Group has over C$968 billion assets under administration, including assets held in custody and subject to fiduciary services
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Global Private Banking constitutes over C$73 billion of this total
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Global Private Banking has offices in the key financial centres of the world and clients in over 150 countries
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Subject to local regulations, Global Private Banking services are offered through affiliates or subsidiaries of Royal Bank of Canada in certain jurisdictions.
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