Executive Compensation Services

The area of executive compensation and pension plans is one that is fraught with complexity and costs. Corporations that have operations in more than one jurisdiction are faced with a host of problems emanating from the differing legislation and requirements in the jurisdictions involved. Rather than attempting to run individual plans in each jurisdiction, or tying up valuable management staff by running one central program in-house, it is often more effective to base the plans offshore.

Basing a compensation plan or pension plan in an offshore jurisdiction such as Bermuda can offer many potential benefits;

1. A central point of administration for all plans, regardless of the location of the employee.
2. Central custody of all assets, again regardless of the location of the employee.
3. Reduced administration costs due to centralization.
4. Choice of custodian.
5. All jurisdictions can have a benefit plan that is tailored to the individual but broadly similar in structure and therefore administration.
6. Many different jurisdictions will be able to run a standardized plan.
7. Plans will not be subject to forced heirship provisions where the employee is based in a civil law jurisdiction. The employee is therefore free to choose the beneficiary that he wishes to receive the benefit, rather than being forced to make certain nominations as per a civil code.
8. Being offshore, they do not come under the jurisdiction of a foreign court and so may be able to provide a level of asset protection for both the corporation and the employee.
9. They offer investment flexibility in both the choice of investment manager and their investments that is unlikely to be available onshore.
10. The plans would be based in a politically and financially stable jurisdiction.
11. The plans can be made to be portable so that they may be used for personal financial planning once the employees contract has expired.
12. There are potential tax benefits in accruing capital gains offshore and differing taxes on income received. This can be greatly enhanced by the use of insurance products.
13. A marked saving in the overall cost of administration of the plan due to its centralized control and administration.

The professionals at Landmark  have a wealth of experience in the area of executive compensation and pension plans. They have structured and administered deferred compensation plans and pension plans for international clients, as well as specializing in the exportation of pension plans to Bermuda.

Landmark is able to offer a comprehensive "one stop" executive compensation service that includes;

1. Assistance with the planning and establishment of a deferred compensation or pension plan at both the corporate and individual member level.
2. Investment of the funds in the plans through proven investment managers and correlation of the reports, statements and performance figures.
3. Operation and control of all banking facilities for cash flows and liquid investments and the correlation of all statements.
4. Administration of deferred compensation and pension plans and their individual member "cells".
5. Full financial reporting and preparation of accounts (if required).
6. Arranging for custody of all assets and investments.
7. Full legal services through our affiliated law firm, Diel & Myers.
8. A full range of corporate and personal trust services to individual executives wishing to establish their own personal financial plans.

Landmark’s fee basis is extremely competitive and is able to be tailored to the requirements of the client.