Over 35 years serving clients in Asia

Over 35 years serving clients in Asia

ANNOUNCEMENT

Magentum Group Limited (“Magentum”) has today announced that it has acquired the UK and Hong Kong Fiduciary, Tax and Accounting businesses of the Lutea Partnership on the 26th July 2022.

These businesses have been operating in UK and HK since 2003 and 2007 respectively and have developed a strong track record and loyal client base. The businesses provide a range of company/trust administration, accounting and tax services to high-net worth clients and professional investors across the UK, offshore territories and Asia.

Magentum is a newly formed business, owned by its management team with backing from an established family office. Magentum will work alongside the existing management team to strengthen and develop the Group’s offering and services. Post-acquisition, Magentum will have significant funding available to invest in its people, technology and infrastructure, with the ambition of becoming a leading independent player in the fiduciary, tax and accounting service markets.

David Bateman, Director Magentum UK, commented: “We are delighted to welcome clients and staff of Lutea to Magentum. This is the beginning of an exciting journey as we move forward, bringing together innovation, technology and training to deliver excellent client service and efficiency whilst retaining a highly valued, personal approach to clients and their affairs.”

Natalie Smith, Director Magentum Asia, added: “This transaction, and the coming together of the UK and HK businesses, enables us to offer a more holistic and bespoke solution to our clients. We strongly believe we can offer a highly differentiated service compared to the larger players in the market.”

It's All About Trust

Lutea has provided practical and holistic Trustee & Advisory services to residents of Hong Kong and Asia for over 35 years. A Trust is an efficient and practical way of protecting and enhancing a family’s wealth and ensuring correct succession down the generations.

It's All About Trust

Lutea has provided practical and holistic Trustee & Advisory services to residents of Hong Kong and Asia for over 35 years. A Trust is an efficient and practical way of protecting and enhancing a family’s wealth and ensuring correct succession down the generations.

Professional People

Lutea’s Directors and staff are all professionally qualified and experienced in the fields of Law, Accountancy, Banking, Tax, Compliance and Company, Trust and Estate Administration.

Professional People

Lutea’s Directors and staff are all professionally qualified and experienced in the fields of Law, Accountancy, Banking, Tax, Compliance and Company, Trust and Estate Administration.

Worldwide Coverage

Our offices are geographically located in Hong Kong, Singapore, Jersey, Anguilla and the UK to gain worldwide coverage and provide a wide range of professional private client services to families and businesses across the globe to protect and maintain family wealth and ensure correct succession down the generations.

Worldwide Coverage

Our offices are geographically located in Hong Kong, Singapore, Jersey, Anguilla and the UK to gain worldwide coverage and provide a wide range of professional private client services to families and businesses across the globe to protect and maintain family wealth and ensure correct succession down the generations.

Core Values

Confidentiality

correction

Understanding

correction

Discretion

correction

Integrity

correction

Core Values

Confidentiality

correction

Understanding

correction

Discretion

correction

Integrity

correction

Delivery

Practical, expert and timely advice, enabling successful protection and growth of individual and family wealth.

Our delivery process can be summarised as follows:

Listen

To determine and understand goals and objectives.

Consider

Immediate issues and identify areas for further investigation.

Educate

In relation to the relevant complexities and nuances of the situation to ensure a clear understanding and clarity.

Present

The various options given the circumstances in order to enable our client to determine the best solution.

Implement

The solution with the tools at our disposal; Wills, Trusts, Companies, Foundations, Pension Schemes.

Maintain

Continuous contact with our client and beneficiaries adjusting the service as required given the changing circumstances over time.

Lutea is remunerated generally on an agreed fee basis for advice, management and administration arrived at by considering the extent and nature of the assets under management, the amount of time required, the responsibility and the risk associated with managing each particular structure; reviewed and agreed annually and invoiced per calendar year in advance each January.


Because changes in investment policy or unforeseen occurrences may arise from time to time which incur greater time costs than anticipated, we will reserve the right to charge a higher fee if the time costs should exceed the agreed fee, after discussion with you, the client.


For advisory services Lutea charges for work on a time cost basis under clear and concise terms of engagement providing a reasonable estimate before undertaking any work.

Hong Kong

The Lutea Group has provided private client services to Hong Kong residents and the surrounding region since the mid 1980’s. Lutea (Hong Kong) Limited was established in April 2007 and granted Registered Trust Company status in Hong Kong in May 2008.

Lutea acts as trustee in Hong Kong and administering trusts and pension schemes, provides corporate services as well as estate planning, will drafting and tax services for its clients.

Asia’s wealth has grown significantly in recent years with Hong Kong and Singapore the central focal point for investment and management services due to the robust legal framework and development of the finance industry resulting in a wealth of expert professional service providers.

Increasing focus on regulation by the Government of Hong Kong to ensure it can maintain a safe regulatory framework within which businesses, investors and wealth managers can continue to operate together with a friendly system of taxation has ensured that Hong Kong continues to be an attractive place in the global finance industry.

Hong Kong

The Lutea Group has provided private client services to Hong Kong residents and the surrounding region since the mid 1980’s. Lutea (Hong Kong) Limited was established in April 2007 and granted Registered Trust Company status in Hong Kong in May 2008. Christian Brown moved to Hong Kong permanently in February 2009 to manage the office and grow Lutea’s Asia practice.


Lutea
 acts as trustee in Hong Kong and administering trusts and pension schemes, provides corporate services as well as estate planning, will drafting and tax services for its clients.


Asia’s wealth has grown significantly in recent years with Hong Kong and Singapore the central focal point for investment and management services due to the robust legal framework and development of the finance industry resulting in a wealth of expert professional service providers.


Increasing focus on regulation by the Government of Hong Kong to ensure it can maintain a safe regulatory framework within which businesses, investors and wealth managers can continue to operate together with a friendly system of taxation has ensured that Hong Kong continues to be an attractive place in the global finance industry.


In 2013 The Trust Law (Amendment) Ordinance (originally enacted in 1934) was passed by the Legislative Council in Hong Kong modernising the trust law to increase global competitiveness at a time when more and more wealth takes flight from West to East.


In 2018 as the wealth industry of the East began to dominate, the Hong Kong Government introduced the Anti-Money Laundering and Counter-Terrorist Financing Ordinance to further implement strict regulations aimed at protecting the industry from criminal activity and the proceeds of crime. In this new age of digital technology and global protectionism, Hong Kong continues to be a safe, flexible and friendly jurisdiction to do business.

On 1 April 2019 Lutea Advisory Services Pte. Ltd. opened its doors to the Singapore public providing Advisory, Will drafting, Tax Compliance and Corporate Administration services with a view to exploring putting down firm roots in the financial industry to serve the local community, and build upon strong relationships established over the years from travel around Asia. 

Christian Brown runs the Singapore office working with business partners to provide the following services:

  • International Estate and Succession advice and planning
  • Will Drafting
  • UK Tax Advice, compliance and reporting
  • Singapore Company Formation and Corporate Administration Services
  • Administrative and technical support to family office management committees and local entrepreneurs
  • Bookkeeping and accounting of companies under our administration

Singapore

Directors

Natalie M. Smith

Position: Managing Director, Asia
Email: nsmith@lutea.com.hk

Natalie is an English qualified Solicitor with extensive experience in Tax and Succession planning, Trusts, Wealth Structuring and Estates, for both UK and international clients. Prior to relocating to Hong Kong, Natalie worked with family offices, International Entrepreneurs and large regional and City law firms as well as heading up the Private Client & Wealth Structuring team for one of the ‘Big 4’ accountancy firms.

Natalie M. Smith

Managing Director, Asia

Natalie is an English qualified Solicitor with extensive experience in...

Emy Mendoza

Position: Director, Hong Kong
Email: emendoza@lutea.com

Emy Mendoza

Director, Hong Kong

David Bateman

Position: Director, UK
Email: dbateman@lutea.com

David Bateman qualified as a Chartered Tax Adviser in 1997 and is also a member of the Association of Tax Technicians.

David has over twenty years experience handling the personal taxation affairs of high net worth individuals with tax compliance obligations in both the UK and in other jurisdictions involving their family trading and investment entities.

David is currently an officer on the Chartered Institute of Taxation London Branch committee. He is also a member of the taxes management sub committee at the Chartered Institute of Taxation.

Outside work David enjoys playing with his family, watching cricket, rugby and tennis. He is also an associate member of the Marylebone Cricket Club.

David Bateman

Director, UK

David Bateman qualified as a Chartered Tax Adviser in 1997...

Ji Hao

Position: Director, UK
Email: jhao@lutea.com

Ji Hao is a fellow member of the Association of Chartered Certified Accountants (FCCA) and a Chartered Tax Adviser (CTA).

Ji Hao joined Lutea in November 2012 and was promoted to director in April 2017. Ji Hao is responsible for the tax compliance team in the Basingstoke office. He also advises on non-resident trustees on technical matters in relation to offshore trust taxation as well as non-dom wealthy settlors and beneficiaries in various areas, including residence and domicile, non-dom and remittance basis, tax-efficient trust distributions and IHT planning.

Ji Hao has been a regular contributor, since 2010, to the readers’ question and answer column of Taxation magazine.

Ji Hao

Director, UK

Ji Hao is a fellow member of the Association of...

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