The Appleby Charitable Foundation is the first Foundation to be approved under the Isle of Man's new Foundation Act introduced at the beginning of 2012.
Here we list who has moved where in another busy week in the offshore sector.
The alleged $65bn Madoff fraud has damaged the offshore fund industry's credibility and spurred on the regulatory changes that have been promised by authorities, according to International law firm, Appleby.
Mauritius' recent tightening of its regulatory system has made it an attractive proposition for aiding inbound investment into India, Africa and China.