CORPORATE & FIDUCIARY

What are the key advantages of your jurisdiction in terms of privacy & asset protection for a Chinese HNWI or Family (etc.) looking to succeed their assets to the next generation? As a member of the OECD, the WTO and FATF (among others), New Zealand is in a unique position compared to many of its peers.  This affords it a degree of protection from scrutiny which is perhaps not so often afforded to jurisdictions which might be termed 'offshore'.  It has a favorable tax regime, a robust book of legislation and is generally considered a stable jurisdiction in both economic...

CORPORATE & FIDUCIARY JURISDICTION 2015

1. Industry research suggests that China will soon rank first in the world as a source of clients. Have you experienced an increase in demand for your company incorporation services from this region? Most incorporation has been in relation to cross-border business rather than domestically focused operations. Over the last 18 months the number has increased by approximately 100%. 2. What is the single most important advantage your jurisdiction provides for Chinese clients? Probably the most important is the protection we offer the client. This is backed by strong legislation and courts that will take action when required by the client. 3. What is...

CORPORATE & FIDUCIARY JURISDICTION 2015

Executive Summary:Vanuatu is a group of tropical islands on the eastern seaboard of Australia, off the coast of Queensland, with a mostly Melanesian population of 258,334 (2012). The 80 islands are mountainous, and some are volcanic. There are international airports on the two main islands; most connections are to Australia. The islands had British/French governance until independence in 1980; languages are English, French and Bislama (pidgin). The time zone is GMT plus 11 hours. There is a uni-cameral Parliament with a Westminster-model Prime Ministerial government and an elected President. The legal system is based on English common law with some...

IMMIGRATION BY INVESTMENT JURISDICTION 2014

When were trust and foundation law introduced in your jurisdiction English common law and equity were formerly adapted from New Zealand through the Cook Islands Act 1915, prior to the Cook Islands acquiring self-governance in 1965.  The common law concept of a trust has been in the Cook Islands for about a century.  However it was the Cook Islands who invented the modern asset protection trust through its innovative legislation, the International Trusts Act 1984, which has been substantially embraced by many offshore finance jurisdictions. The Hague Convention on Trusts does not apply in the Cook Islands.  Seeking to capitalize...

CORPORATE & FIDUCIARY JURISDICTION 2020

1. What is the single most important advantage your jurisdiction provides for Chinese clients? Fiscal & Regulatory benefits of RAK offshore companies• 100% income tax exemption• 100% corporate tax exemption• 100% capital and profit repatriation• No capital gains tax• No value-added tax• No withholding tax• Absolute privacy, confidentiality and protection of assets and information• Ability to maintain bank accounts in the UAE• One director required, one shareholder and one secretary (even if they are the same person)• The ability to own property in the UAE • Annual Audit Report not required • Shareholder/director is not required to be physically present in the UAE...

CORPORATE & FIDUCIARY JURISDICTION 2015

What are the key advantages of your jurisdiction in terms of privacy & asset protection for a Chinese HNWI or Family (etc.) looking to succeed their assets to the next generation? Whilst Cayman has adopted the English common law relating to trusts and fiduciaries, it has bespoke legislative adjustments which have been specifically designed with international trusts and clients in mind. For example, there are no taxes or registration fees for private trusts. If you do register your trust to receive a no tax guarantee, the register is not available to the public, thus maintaining privacy. Cayman also has specific...

CORPORATE & FIDUCIARY JURISDICTION 2015

1. Industry research suggests that China will soon rank first in the world as a source of clients. Have you experienced an increase in demand for your company incorporation services from this region? The demand for incorporation of Cayman Islands exempted companies from Chinese clients continues to increase yearly. Chinese clients appreciate the flexibility, asset security, ease of operation, maintenance and control afforded by Cayman companies, as well as the highly competitive fees charged. Chinese clients also appreciate that Cayman offers a sophisticated business environment with a full range of services including banks, trust companies, lawyers, accountants, insurance managers, mutual fund managers and...

CORPORATE & FIDUCIARY JURISDICTION 2014

What is unique in your jurisdiction and why Chinese investors should form companies there? The International Business Companies (IBC) Registry allows foreign investors to register offshore companies at RAK Offshore, a division of RAK Investment Authority (RAKIA) without the need to establish a physical presence in the UAE. Incorporation within 24 hours. Any non-resident individual or corporate entity can register a company. The availability of a modern and flexible legislative framework Simple incorporation and filing requirements The availability of Double Taxation Avoidance Agreement (DTAA) State of the art banking system State of the art telecommunication facilities Proximity to entire Gulf...

CORPORATE & FIDUCIARY JURISDICTION 2014