Trust Corporation of the Channel Islands has set up Nevada-based Regent Capital Advisors as its US business, aiming to tap into what is sees as a potentially strong market even though few other firms from the Channel Islands work in the world’s largest economy, it said yesterday.

Regent Capital Advisors’ mixture of a US hub and foreign parentage means the firm can offer international and domestic structuring and administration solutions from the US, a statement said.

“This move takes place to coincide with changes in securities and tax legislation which is encouraging US families and their advisors to re-examine the most efficient way of holding their asset base,” Trust Corporation said.

Nevada is attractive as a state due to its “progressive legislative changes, making it the ideal location for the setting-up of family offices and private trust companies”, it continued. (Nevada has no state income tax).