Trustspire
The new kid on the block? No, Trustspire (previously known as HVM Trust Company) was part of the HVM group already since 2019.
Initially the company only offers independent trusteeship services to our clients who have the need for an independent and qualified trustee.
However, since ongoing compliance regarding FICA (Financial Intelligence Centre Act) HVM have made the decision to outsource all its company secretarial and trust services to Trustspire. FICA in South Africa is a law designed to combat financial crimes like money laundering and terrorist financing. It requires financial institutions to identify and verify their clients, keep records of transactions, and report suspicious activity to the Financial Intelligence Centre (FIC).
Trustspire symbolize a commitment to building trust and inspiring confidence in clients, aligning values as integrity and reliability.
What is different for existing clients
All the services previously provided by HVM such as dealings with CIPC and The Master of the High Court will from 1 May be done and invoiced by Trustspire
Why a separate company?
- Due to new legislation all companies that offer services which deals with the Registrar of Companies and The Master of the High Court as required to registered as an accountable institution
- All the clients need to be FICA, and a report need to be sent to the Financial Intelligence Centre yearly
- As HVM have numerous clients that do not deals with the above we made the decision to outsource all this services not to FICA all our clients
