In some jurisdictions, such as the Cayman Islands, offshore foundation administration requires you to maintain a list of persons who are licensed or permitted by the foundation management law to provide management services within that jurisdiction. For example, a foundation must at all times have a qualified person as its secretary and the secretary must maintain a full and proper record of its activities and enquiries made for giving notices.
The qualified persons register is in addition to the 'Register of Professional Advisors and Officers'. In this register, details of accountants, lawyers, land agents, investment advisors, brokers and tax professional can be maintained. You can also add you own sub-types within this register.
All entity types have the Register of Professional Advisors where you can create your own subtypes.
We have recently seen that the Trusts and Trustees Act in Malta requires that a qualified persons license to act as a Trustee. We have therefore extended the inclusion of the 'Register of Qualified Persons' to our Trust entity type also.
These notes are confirmed to be applicable from Troika release 2.09.010/WealthWorks+ release 4.4.2.