Various international independent trust companies with presence in the State of Florida gathered in 2013 to create Florida International Administrators Association (FIAA), with the common goal to support the enactment of modern legislation for foreign trust companies, throughout their affiliates, that engage in marketing activities in Florida. FIAA’s primary goal has been to obtain an approved new section in the Florida Statutes that defines and regulates a Qualified Limited Service Affiliate (QLSA).
FIAA’s founding members Citco Corporate Services Inc, CISA LatAm LLC, JTC Miami Corporation, Amicorp Services Ltd, Corpag Services USA Inc and Integritas Inc, have registered to become a QLSA and all have been granted such qualification by the Florida Office of Financial Regulation (FOFR). This qualification, which is imperative by law and provides adequate supervision, has been a fundamental step in the consolidation of the international fiduciary industry in Florida.
FIAA’s President Ernesto Mairhofer, Secretary Myriam Bril and the rest of the Directors, Emilio Miguel, Tony Valdes, Anthony Perea and Ewout Langemeijer, will carry out a series of events in the financial market of Miami with the objective of publicizing the new regulatory framework and ensuring that the trust services offered by international Trust companies are only through companies registered and approved by the FOFR, in order to preserve the good reputation of this sector and helping to maintain relations with the leaders of this industry.