EXPERT INSIGHTS

Offshore operations refer to operations in countries other than the place of incorporation. The so-called offshore company makes a general reference to companies which are incorporated in offshore jurisdictions in accordance with offshore company regulations, and which are only engaged in business outside the place of incorporation. Strictly speaking, “offshore company” is not an accurate legal term. An offshore company makes a general reference to a limited liability company or a company limited by shares established in offshore jurisdictions. As a form of commercial organization, offshore companiesare not limited to companies (whether limited companies, unlimited companies, holding companies, exempted companies,...

CORPORATE & FIDUCIARY EXPERT INSIGHTS 2019

I Families and Family Inheritance The so-called family is a group of people connected by blood or marriage, and the development from individuals to a small family (and then a big family) can be a complicated and long process. In order to be called a big family, the grouping mustconsist of at least two small families. Sometimes they are composed of a dozen small families after more than three generations of continuous development. While it’s the wish of any family leader that his family prosper and flourish, the joint efforts of all family members and an effective inheritance from one generation...

CORPORATE & FIDUCIARY EXPERT INSIGHTS 2019

There are institutions for high-net-worth families constantly emerging in the third-party service market for Chinese family-owned enterprises. Whether it is a family office, a private bank, an accounting firm, or a law firm, at their core these institutions are mostly focused on family wealth management. Before delving into wealth management, we first need to understand the current stage of development of the Chinese family within the investment industry and the challenges involved. For the time being, we can't directly apply ready-made solutions that work for other markets. It is only effective and meaningful to develop products and services while bearing...

CORPORATE & FIDUCIARY EXPERT INSIGHTS 2019

In the post-CRS era, when Chinese entrepreneurs intend to expand overseas markets, establish branches, or build their own international brand, they will often consider registering companies in countries or regions outside mainland China. In the current context of international tax transparency, OFFSHORE operations are being transformed into ONSHORE, and it has become difficult for pure OFFSHORE operations to meet tax planning needs. Secondly, in addition to tax planning considerations for corporate income tax, business owners also have to consider personal income tax – that is, changing their tax residency status. In order to officially change our tax status, we must...

CORPORATE & FIDUCIARY EXPERT INSIGHTS 2019

The Cyprus International Trusts regime enables Cyprus non-tax residents to create a Cyprus Trust and enjoy the highest degree of asset protection and create estate planning internationally along with numerous tax benefits and high level of confidentiality.The definition of a Cyprus International Trust (CIT) has become more flexible: Allows the settlor / beneficiary to become a Cyprus resident as long as neither the settlor nor the beneficiary take up residence during the calendar year preceding the year the trust was set-up the previous restriction on investment in immovable property in Cyprus has been lifted. It is now possible for the...

EXPERT INSIGHTS 2020

Zhang Ling Asia Pacific Oriental Wealth Management Co., Ltd. Director and President Qianhai International Capital Management Institute Family Office Tutor Visiting Professor at Peking University and Tsinghua University International Registered Financial Advisor (CFC) Senior Securities Investment Analyst Zhang Ling has worked in large financial institutions such as China Merchants Bank’s Head Office, Essence Securities, and Hong Kong Zhiyi Financial Group.   The power of finance lies not in short-term profits, but in compound interest over time. The guarantee of security comes from an asset allocation in which not all the eggs are put into one basket. When you are a...

EXPERT INSIGHTS 2020

Author: Gao Mingyue is a lawyer and partner at Guantao (Shanghai) Law Firm who is committed to the practice of family law, trust law and charity law. He is skilled at integrating family agreements, trust structures and charity structures to establish a systematic and comprehensive legal framework of wealth inheritance for family clients. Mr. Gao is the founder of several foundations and NGOs, and also provides continual legal counseling to a number of banks, insurance and trust companies. Mr. Gao is the founder of the first charitable trust “Charitable Trust Aided by Lawyer Mingyue”, which was initiated by lawyers in...

EXPERT INSIGHTS 2020

Han Liang The most common tool used in the management and inheritance of family wealth in common law countries is the trust. For high-net-worth customers in mainland China, due to the lack of trust culture and the corresponding legal environment, there are certain obstacles in the understanding and application of the trust function. The foundation originated from the civil law system, and it is more in line both with China’s legal tradition, and the needs of private entrepreneurs and high-net-worth customers in the management and inheritance of family wealth. It has unique advantages. The Foundation has more advantages in the...

EXPERT INSIGHTS 2020