The Family Foundation is used hesitantly in Swiss succession planning, although in recent years, the establishment of a foundation has been increasingly evaluated again. A robust estate planning ensures a reliable regulation and avoidance of conflicts amongst heirs....
How could PRC community property rules impact offshore trust planning?
Property acquired during marriage will be presumed as community property if not otherwise structured. Property planning helps to obtain clean title to the assets that a PRC settlor wishes to contribute to an offshore trust, and thus prevents potential risks and...
Common Chinese legal obstacles regarding outbound investment by individuals
For Chinese individuals making outbound investment, overcoming the obstacles from the aspects of regulatory and foreign exchange control becomes a priority. As China is now the second largest economy in the world and produces millionaires and billionaires faster than...
Why Chinese HNWIs wishing to establish offshore trusts should act now?
Chinese HNWIs should act now as China may introduce estate tax, exit tax on emigration and adopt new rules to tax the contribution of appreciated assets into an offshore trust. Chinese high net worth individuals (“HNWIs”) are very interested in using offshore trust...
What you need to know about setting up an offshore trust for a Chinese high net worth individual (“HNWI”)?
Issues arising from setting up an offshore trust for a Chinese HNWI include the recognition of the trust itself and other legal and tax constraints. As more Chinese HNWIs have realized the unique benefits of offshore trust, especially in the areas of asset protection...
Beware tax pitfalls when moving from one country to another: Swiss Courts ruled that a US citizen living in the UK could not get Swiss dividend tax back
With a judgment rendered on 27 November 2020 (case no. 2C_835/2017), the Swiss Federal Supreme Court (“FSC”) confirmed a decision by the Federal Administrative Court (“FAC”) of 24 August 2017 (decision no. A-1462/2016) concerning a an individual tax residence matter...
Is Switzerland Introducing a Trust Law?
On a governmental level, the introduction of a Swiss law on trusts is currently being reviewed as Switzerland does not provide for a suitable instrument to be used for estate planning or asset protection purposes. Arguments for the introduction of a Swiss Trust...
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A WORLDWIDE INITIATIVE OF INDEPENDENT EXPERTS Family governance | Transfer of family business | Structuring the business | Family charter | Information and influence of family members | Control and finance of family assets | Estate planning | Inheritance tax |...
