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Austria has traditionally had close links with Eastern Europe, and has attracted significant numbers of companies from the region since the collapse of the Soviet Union. Approximately 67% of the Austrian workforce is employed in the country's service sector, although industry accounts for around 27% of the workforce, and agriculture the remainder. As might be expected from a country with such a developed service sector, the standard is high, and the workforce generally well educated. The Vienna Stock Exchange showed a return to form in 2012 after a poor performance in the two years preceding, with the leading index, the...

2020

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? San Marino trust law is one of the most modern trust law, with feature very typical of civil law, and much focused on the protection and enforcement of settlor’s will, more than beneficiaries’. In terms of cost, how is the cost of a setting up a trust/foundation in your jurisdiction compare to other jurisdictions? If it’s more expensive, what is the additional value that a client receives for this?...

CORPORATE & FIDUCIARY JURISDICTION 2015

San Marino, officially the Republic of San Marino, also known as the Most Serene Republic of San Marino, is an enclaved microstate surrounded by Italy, situated on the Italian Peninsula on the north-eastern side of the Apennine Mountains. Its size is just over 61 km2 (24 sq mi) and has an estimated population of about 32,000. Its capital is the City of San Marino and its largest city is Dogana. San Marino has the smallest population of all the members of the Council of Europe. San Marino is governed by the Constitution of San Marino, a series of six books...

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? The United Kingdom has an unparalleled depth of precedent for matters relating to trusts and the legal system is renowned globally for its fairness, equity and reliability. It is no coincidence that many international agreements are written under UK law regardless of whether the transaction has a UK based element. It is indeed a fact that the highest court of appeal for the UK dependent territories, the Supreme Court,...

FUNDS & FUNDS SERVICES 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? Yes, we have increasing numbers of Chinese clients using UK companies and partnerships for investment and trading purposes in the UK, and within the broader EU market place.   2. What is the single most important advantage your jurisdiction provides for Chinese clients? The UK is an important gateway for Chinese clients into the UK and to Europe in general. Of the EU member countries, the UK is the fastest...

CORPORATE & FIDUCIARY JURISDICTION 2015

Executive Summary: Although the UK must be counted as business-friendly, with its superb professional services, a common law heritage, and straightforward company law, it is relatively highly taxed and there are few if any niches available by way of escape. The ffshore dependencies of Jersey, Guernsey and the Isle of Man (qv) do however provide low-tax possibilities, and there is a beneficial tax regime for on-doms those who do not have UK origins. The services sector is dominated by banking, finance and insurance, centred in the City of London. The UK has excellent telecommunications, extensive rail and road networks, including...

2020

What is unique in your jurisdiction and why Chinese investors should form companies there? London is one of the world's leading financial centers and a hub forinternational trade and finance. With over 100 double taxation agreements,the UK is alsoan excellent location to establish holding companies for EU and globalgroups. For Chinese clients seeking to relocate, the UK offers unparalleledstandards of education and quality of life. What makes your jurisdiction different from other competitors forChinese investors? As a common law country within the EU, the UK combines a reliable andefficient legal system with the benefits of EU membership such as theparent/subsidiary...

CORPORATE & FIDUCIARY JURISDICTION 2014

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? Yes, the pitches for Chinese investors that we do have steadily increased in the last years. Nevertheless, mandates from Chinese clients are – compared with mandates from foreign clients from western jurisdictions – still rather insignificant in number and volume. The reason is that Chinese with little or no experience with investments in western jurisdictions are often unwilling to pay for quality legal and tax advice. This is because they...

2015