The History of Dixcart: 1972 – 2022

This year, Dixcart is delighted to be celebrating its 50th anniversary.

The Group was founded in 1972 and over the last 50 years has grown into 10 offices in 9 different jurisdictions: Cyprus, Guernsey, the Isle of Man, Malta, Nevis, Portugal, South Africa, Switzerland, and the UK. View all of our offices here.

We have been providing professional support services for 50 years and are now celebrating our 50th anniversary.

There has been a large number of individuals significantly involved in the growth of the company over the years – too many to mention in this article. So many have helped to grow the Group offering we have today, from the Managing Directors involved at the inception of each office all the way through to today, to the long-standing staff we have, and professional team that makes Dixcart so special. It is the skill and expertise of our staff that makes us unique, and we are very proud of our people. We are delighted that over the years, a large number of staff have worked for the Group; some for more than twenty years, and a few for over thirty years now. 

We take a look back at Dixcart’s history and how it all began:

Chapter 1

Woolford Business

The Woolford business started in 1972 when Percy Woolford decided to move to Sark, in the Bailiwick of Guernsey.

At the same time, he established the first Dixcart Office in Guernsey, and began providing international financial services and advisory support for international clients.  

Rob Joins the Family Business and expands Dixcart: Madeira and the UK

With Percy Woolford running Dixcart Trust Corporation Limited in Guernsey, Rob Woolford, Percy’s son, was working at Midgley Snelling & Co, a firm of Chartered Accountants in the UK which handled a lot of mutual business. Early in 1989 Rob left Midgley Snelling & Co. and started a new accounting practice in the UK with Peter Wilman, called Woolford & Co Chartered Accountants, along with the establishment of a subsidiary of Dixcart to provide the support in the UK for the international clients of Dixcart. On Monday 3rd April 1989 the Dixcart office in the UK was established.

Meanwhile Percy Woolford had earlier in 1988 opened a new Dixcart office in Madeira, Portugal, to provide corporate services within the Madeira Free trade zone.

The Isle of Man

From 1968 onwards, Rob had worked actively with the Midgley Snelling & Co office in the Isle of Man, handling their international clients. These regular annual visits to the Isle of Man grew the desire to establish a Dixcart IOM office and in April 1989 this was put in place in conjunction with a local firm of Chartered Accountants called Edwards & Hartley, who managed the Dixcart office for many years. It was in 1996 that Dixcart established a physical presence in the Isle of Man, and the Dixcart office was established as a separate entity with its own premise.

Dixcart UK Accountants and Lawyers

Over the next five years, since its inception, Woolford & Co in the UK continued to grow and in 1994 Dixcart International was formed – working closely with the Dixcart offices and clients in the Channel Islands, Isle of Man and Madeira. Woolford & Co Chartered Accountants concentrated on UK professional services for UK enterprises and the development of an accounting practice.

In 1996 a joint venture called Sandown Insurance Services Limited was started. It was a general insurance brokerage business which ran for a further successful eight years before new rules made the compliance too onerous for a small brokerage business and it was sold.

However, things did not stand still for long!

In 1999, friends of Rob; Paul Morgan and Jeremy Russell left Mackrell Turner Garrett Solicitors and accepted an invitation to join the organisation in the UK, and thus Morgan Russell was born, growing the UK office from a team of accountants to a joint team of accountants and lawyers. In 2014, Morgan Russell adopted the Dixcart name and became Dixcart Legal.

Dixcart UK now has three entities: Dixcart Audit; Dixcart Chartered Accountants and Tax Advisers – Dixcart International Limited; and Dixcart Legal Limited.

We have therefore now been providing legal commercial services from the UK to international and UK clients for 20 years.

Next stop: Switzerland

It soon became clear that the expansion of the Group, from a service and marketing perspective, would be enhanced with a presence in Geneva. This resulted in the establishment of Dixcart Corporate Services in Geneva in 1997, initially managed by a local service provider but quickly growing into its own offices and providing local Swiss services. This enhanced the Dixcart Group’s network of contacts and further developed the client base needing Group services.

Chapter 2

A Caribbean presence: Opening the St Kitts & Nevis Office

For a number of years, the cost and simplicity of establishing a Caribbean company through the use of Nevis incorporated entities was very attractive. In 2000 the Group established its own operation there to take inhouse the work provided in Nevis, to provide local compliance and secretarial services for the Group’s clients. The office has grown over the years and also now provides a private client assistance, offering trust and foundation, and re-domiciliation services for individuals, whilst still maintaining the core CSP business.

Dixcart’s Service Offering Continues to Grow: IT and Dixcart Business Centres

In 2004, the Dixcart UK office saw another acquisition when Adder, an IT company, was taken over and became Surrey Business IT in 2005, offering IT support to the Group as well as serviced and virtual offices.

Over the years it was gradually agreed, that as the majority of marketing effort was directed towards the Dixcart brand, Woolford & Co would take advantage of this marketing umbrella and also take the Dixcart name. Since January 2017, the UK accounting side has operated as: Dixcart Audit, Dixcart Chartered Accountants and Tax Advisers, Dixcart International and Dixcart Legal Limited.

Over the years Dixcart has always owned the buildings where our offices are based and has provided serviced offices for many years. Dixcart now has five Business Centres, in five different countries. The Business Centres are all in prime locations and offer high quality serviced office space, meeting room facilities, and on-site reception services. Our Dixcart professionals are located in the same building – which allows us to provide additional business support services, if required.

Heading to the Med: Dixcart Malta Office

Malta is an excellent jurisdiction for individuals either relocating to Malta, managing asset protection and succession planning, or for establishing corporate structures. It was a great fit for Dixcart when we decided to open an office in 2007, initially renting space in various offices but culminating in 2010 in the purchase and renovation of a prime office in Ta’Xbiex, enabling the continued expansion of the office and the provision of serviced offices.

Cyprus

Having been established in 2012, in response to client demand, the Dixcart office in Cyprus has grown, as the island has recovered from the turbulent years post credit crunch. Eventually in December 2019,the Dixcart office in Cyprus moved to its new premises in Limassol. With this investment, Dixcart is able to continue its growth and provide clients with a comprehensive range of business support services, including serviced offices in Cyprus.

Dixcart Portugal – Two Locations

In 2017, Dixcart established a second Portuguese office in the centre of Lisbon, Portugal, to complement and enhance the Dixcart offering in Madeira. Even though the Lisbon office is smaller, it has opened up several new business opportunities and has become a central hub for meeting clients and contacts.

STAG Venture Capital Fund Management

In 2020, Dixcart was delighted to partner with newly founded Fund Management company, STAG Fund Management. STAG is a Venture Capital Fund Manager, based in the city of Lisbon in Portugal, and manages Private Equity and Venture Capital Funds. The funds that STAG manage offer a strong potential for growth and focus on investing private equity, from countries across the world, into Portuguese companies and STAG´s team of professionals have over 30 years combined experience in dealing with private equity, corporate restructuring, and corporate finance. 

STAG Fund Management is part of the wider Dixcart Group. STAG and the Dixcart Group operate in different markets; STAG is a Venture Capital Fund Management Company, and the Dixcart Group is a private wealth management company.

2022: Dixcart Turns 50  

This year Dixcart is celebrating its 50th Anniversary.

We are an independent group and are proud of our experienced team of well-qualified, professional staff who offer international professional support services across the world.

Dixcart Culture: We are independent

The objective of Dixcart as a Group has been to provide international advice and management to wealth generators, along with the implementation of structures to support individual and family needs for the ongoing organisation of their international financial affairs.

The Dixcart Culture is unique and shapes our identity and corporate personality. It is what makes us different and generally what attracts our clients to us and ensures that they return with new projects requiring additional solutions from us.

  • We are independent – privately owned and not tied to any other Group. This means that we can provide clients with impartial advice and the best solutions to meet their specific needs.
  • We employ independent thinkers.
  • We are proud to be a privately owned business, and this is reflected in our values, both towards our clients and towards each other.
  • Even though we have a number of offices in different countries – we meet regularly and there are many deep friendships that run, not only within, but also across the Dixcart offices.

We look forward to the next 50 years.

advice@dixcart.com

Dixcart Articles Available in Over 150 Languages

We are very lucky to have clients and contacts based in virtually every country across the world. We generally communicate in English but understand that our contacts may wish to read our articles in their first language.

Many of our contacts are professional advisers, and whilst your English may be very good, the English of a number of your clients may not be quite so good.

  • We have therefore added Google Translate to the Dixcart and Dixcart Domiciles websites.

We were slightly sceptical, as to the potential quality of the translations. We therefore asked a number of linguists to test out several of the translations, and were pleasantly surprised with the feedback as to the accuracy and high quality.

You will find the ‘Select Language’ box in the top toolbar of each website.

If you wish to share the translation, please use the share icons along the side of the website.

This functionality has also been made available on the mobile versions of our websites.

Further Information

If you would like to know more about Dixcart Articles, the topics and jurisdictions covered and how you can use filters to find what you are looking for, please contact the Dixcart Marketing Team: advice@dixcart.com

Dixcart Receives Mondaq Article Awards

Since Dixcart has partnered with Mondaq at the start of 2021, we have received three significant Mondaq Awards:

These awards are given to articles which receive the highest readership figures, per month, for a particular jurisdiction.

Mondaq receives content from a huge range of firms, so these awards are a big achievement!

Dixcart News features a selection of topical articles each month. Our professional advisers create current and relevant content, which is shared with other intermediaries, as well as high-net-worth clients and their families.

This year we are also partnering with Mondaq who share our content across a large range of professional media platforms.

Image Rights Registration and the Future Benefits This Can Offer

Guernsey’s innovative legislation on Image Rights (IR) became law in November 2012 and it remains the only jurisdiction in the world to date where an individual, group or legal entity can register their Image Rights on a public register.

Registrations have been steady since that date, with currently 64 IR registrations for individuals and entities from a broad range of human activity, including sport, entertainment, finance, business, music and charities.

A number of the names registered are recognisable global figures, including international sporting celebrities and a Formula 1 racing team.

Reasons Why Individuals May Wish to Register their Image Rights in Guernsey

Registrations have generally been made to evidence and defend an individual’s “valuable” image rights against unauthorised commercial exploitation and possible abuse. A Guernsey registration can add security to an existing “package of rights” providing protection against infringement and will add weight to any claims for compensation.

Additional reasons for registering image rights:

  • To place the image rights within a holding structure that can licence these rights as part of a commercial enterprise.
  • As part of inheritance and legacy planning. Some individuals have companies that hold the rights and receive image-related income as part of their pension planning.
  • Part of a collective of individuals whose income-related earnings are managed by a club or agent.

Reasons to Register a Young, Hopeful “Star of the Future”

A number of young people have registered in Guernsey. These include aspiring musicians, a number of footballers and talented rugby players. Listed below are several reasons why young people who currently have no recognisable significant image with the wider general public should consider registering their image rights:

  • Registering is relatively inexpensive – the Guernsey registration fee for a 10 year application is £500.
  • Image protection – a deterrent against abuse and exploitation of a young person’s image.
  • Additional publicity – being in the public domain, an IR registration can be used as a PR/marketing opportunity.
  • To be the first of their sport/genre to register their image rights.
  • Early control for individual/club/family – clear ownership from the start can avoid “issues” of sale, ownership and exploitation in the future.
  • Professional advice – with the appropriate advice relating to the valuation, assignment, licensing and sale of Image Rights, a “star of the future” can plan to manage and protect their asset before their fortune has been created.

Rising Cricket Star – Ideal IR Registration

A 19 year-old batsman has just been introduced  as a member of the England Test Cricket squad. As yet there is no professional cricketer registered on the Guernsey IR register.

After an impressive debut in India, this young man is likely to become very well known. A registration of his image rights a year ago would have been very useful, as his advisers would have already put in place a framework to manage and protect his image rights.

There is nothing to stop him registering those rights today – but, as his success grows, so will the potential value of those rights, together with the associated costs and related taxes should he decide to exploit or even assign the rights formally.

Deals are undoubtedly already being discussed  with this young man to maximise the use of his image for financial benefit. With an Image Rights registration, and possibly a holding structure in place, these deals could be secured in a way that protects and exploits the financial gain presented by these opportunities.

What Information is Required?

The IR Public Register is available via the Guernsey Registry website. Most of the registrations provide minimal details (name of personality, image(s) to be registered, date of registration and registering agent) and they give no detail regarding the ownership of these rights or the rationale behind the registration. This preserves confidentiality.

How Can Dixcart Help?

The Dixcart office in Guernsey is able to manage Image Rights applications and conduct the due diligence work necessary to submit an application. Two Dixcart managers in the Guernsey office are approved by the Guernsey Intellectual Property Office as Registered Image Rights Agents and can assist individuals seeking to register their rights and advise on the most efficient way to do so.

If you require any additional information on this topic, please speak to Bruce Watterson at the Dixcart office in Guernsey: advice.guernsey@dixcart.com.