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By Zhang Shidong   China’s yuan-denominated assets will get a fresh catalyst this month from some policy measures to give foreign stock and bond managers' wider access to the capital markets. That also means exposure to the second-best Asian currency in the past 12 months.   The central bank and market regulators have streamlined approval procedures for its inbound investment schemes, known by their QFII and RQFII acronyms, from November 1. They will also let foreign investors access a wider array of assets such as over-the-counter stocks, financial and commodity futures, and hedge funds, among others.   First announced in September, authorities will...

CORPORATE & FIDUCIARY NEWS 2020

By Fitch Wire   Fitch Ratings-Hong Kong-29 October 2020: Robust capital raising trends in Hong Kong so far this year and the imminent IPO of China’s Ant Group, an affiliate of Alibaba Group (A+/Stable), signal the territory’s continued standing as a major financial center, says Fitch Ratings. Hong Kong’s attractiveness to Chinese firms for raising international capital, as well as its sizeable external and fiscal buffers, will help to mitigate the credit impact of a recent erosion in perceptions of its governance standards and the economic shock from the coronavirus pandemic.   Total fundraising in Hong Kong this year continues...

CORPORATE & FIDUCIARY NEWS 2020

By Wei Jianguo   The fifth plenary session of the 19th Communist Party of China (CPC) Central Committee, which began on Monday in Beijing, has attracted global attention.    As the world experiences a once-in-a-century shake-up caused by the COVID-19 pandemic and the headwind of anti-globalization, the achievements of China's 13th Five-Year Plan (2016-20), its proposals for formulating the 14th Five-Year Plan (2021-25), and China's long-term goals through 2035 are being closely watched.   This year marks several key milestones for China. It is the final year of the current 13th Five-Year Plan and the eve of the 100th anniversary...

FOREIGN DIRECT INVESTMENT NEWS 2020

By Evis Hadjipetrou   Your “insurance policy” for the future   The Cyprus PR program offers non-EU nationals guaranteed permanent residency within 2 months with a single, secure, real estate investment of €300,000. It applies to the investor, their spouse dependent children up to age 25, and the parents of the applicant and spouse.    Permanent residency status means that your family has the right to live freely in Cyprus or continue to live in your home country and just use the permit whenever you need it.      Permit holders also have the right to own a business in...

IMMIGRATION BY INVESTMENT SPONSORED CONTENT 2020

By Gerard Field   As a CEO of an international private bank, I find clients will spend much time and effort in selecting the right offshore jurisdiction for them taking into account the legal framework, regulations and whether the jurisdictions meet their individual requirements for what they require to be that asset protection, privacy, and strength of regulator to name a few key areas.     Once jurisdiction has been selected then a review of the banking partners that are available will be a key determinant of using that jurisdiction. Considerations will include how strong the bank is in terms of a...

PRIVATE & INTERNATIONAL BANKING EXPERT INSIGHTS 2020

By European Parliament   Parliament’s new committee on tax matters will become “the European hub for debate on tax issues”, promises Dutch S&D member Paul Tang, the committee’s newly elected chair.   What will Parliament's new committee on taxation – FISC – be focusing on?   We’re at a critical stage. Governments are now – rightly – spending billions to save lives and livelihoods. But the debts incurred will have to be repaid. After the last crisis, we made the double mistake of austerity and increased taxes on the middle class. Only the richest remained out of shot. This time...

CORPORATE & FIDUCIARY NEWS 2020

By Cheyenna Calderon   COVID-19 has impacted all aspects of life and many of the changes it has brought will be here to stay. Private Banks post-COVID are being called on to reinvent themselves and become more agile and responsive in order to thrive in this new world. For international families and corporate entities that utilize private banks and have assets and interests in offshore jurisdictions like the Cayman Islands, COVID has brought on some enhanced expectations that Private Banks and their Bankers need to meet going forward.   According to the 2020 McKinsey Affluent, Private, and HNWI Customers’ Insights Survey, clients are...

PRIVATE & INTERNATIONAL BANKING EXPERT INSIGHTS 2020

By Julian Bartolo   With the possibility of obtaining a second residence or citizenship by investment, applicants and their families are choosing to migrate permanently to other countries. Business, education, better healthcare and political or social disturbances are only a few of the reasons these individuals opt to relocate to another country. Others need assurances and a default ”plan b” in the event of uncertain times.   Obtaining dual citizenship or a second residency is more than just a document in hand. Although the advantages vary from one programme and jurisdiction to another, the results of investing in citizenship &...

IMMIGRATION BY INVESTMENT EXPERT INSIGHTS 2020