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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? We work with the top countries for ease of doing business and high on the corruption perception index (no corruption): New Zealand, Singapore and the Netherlands. All these traditional jurisdictions can offer advantages of asset protections and estate planning to the next generation. Dutch Foundations (Stichtings) can offer them an excellent solution to protect and preserve their wealth in a confidential manner. It is easy to create and Chinese...

CORPORATE & FIDUCIARY JURISDICTION 2015

Derick Liu What is the age we are in now? We might say that it is the age of the Internet, an age short of resources, or we can argue that it is an age of excessive consumption; it is an age in which people are in conflict with one other. We want to understand each other, but sometimes have to challenge each other.But the trend is towards integration. We might recognize, understand, master, and promote this age from the perspective of "Chinese Globalization". One hot topic in the development of Chinese globalization is migration. Why is there such upsurge...

EXPERT INSIGHTS 2020

Emerging markets in Asia aren't limited to just China and India. The countries that make up the Association of South East Asian Nations (ASEAN) are home to 8.8% of the world's population, and have a GDP larger than India. Growth rates in the region compete with the bigger countries, running between 6 and 8% in some of the top performers. And right in the center of it all is the island of Labuan, a Federal Territory of Malaysia and a tax-free port, situated approximately 8 kilometers off the North West coast of Borneo. After overhauling its legal framework in 2010...

CORPORATE & FIDUCIARY JURISDICTION 2014

Dan Mitchell and Brian Garst The United States' aggressive financial disclosure law, the Foreign Account Tax Compliance Act (FATCA), unquestionably got off to a rocky start. Its implementation has been much delayed as Treasury Department regulators struggled to enforce what has proven to be a fundamentally flawed law from its conception. Now finally entering into force, FATCA faces a new set of challenges as its many unintended consequences begin to blow back on the U.S. government in the form of political uproar and serious legal challenges. A Troubled Start FATCA was passed into law as an afterthought to “pay for”...

EXPERT INSIGHTS 2020

Country:                    Labuan Region:                       Asia Pacific Currency:                  No Restriction on Currency Languages:    English, Malay, Chinese, Tamil Time Zone:     UTC +8 Phone Code:   +6087 591 200 Communications: Very Good Labuan, being part of Malaysia，plays a significant role as the window to Asia’s economy. Labuan companies can make use of Malaysia's extensive double tax treaty network, and as a result the island has become a preferred conduit for FDI to a number of ASEAN countries. A stock exchange aimed primarily at the listing of Islamic financial debt issues has had considerable successes. Labuan companies engaged in trade...

2020

Country:                    Malaysia - Labuan Region:                       Asia Pacific Currency:                  Any currency of choice except Malaysian Ringgit (MYR) Languages:   English, Malay, Chinese, Tamil Time Zone:     UTC +8 Phone Code:   +6087 Communications: Very Good Labuan is located off the coast of the state of Sabah in East Malaysia and is a Federal Territory of Malaysia. It is also designated as an international business and financial zone by the Malaysian Government since 1990. Known as Labuan International Business and Financial Centre (Labuan IBFC), itpresents a comprehensiveyet cost-efficient midshore solutions and structures toglobal investors and businesses. The jurisdiction offers...

FUNDS & FUNDS SERVICES JURISDICTION 2018

Wealth Management &Inheritance from Generation to Generation Thirty years after China’s “Reform and Opening Up Policy” began, hundreds of thousands of high-net-worth families have been created in the Mainland.Meanwhile, a huge market for asset management and inheritance has been created too. Currently, China's high-net-worth individuals are relatively concentrated within a certain age range, with about 70% of those interviewed aged between 40 and 60. While high-net-worth individuals’ businesses are entering a peak period and a stable period, their children are growing up.In addition to inheriting family businesses, the inheritance of other assets (especially financial assets) is also a key concern. If the...

EXPERT INSIGHTS 2020

By Beijing JT&N Shanghai OfficeXu Haibo and Liu Dongming As the wealth management of high-net-worth families in China becomes increasingly international, professional and trust-oriented, Special Purpose Vehicle (SPV) techniques have become one of the main tools for establishing offshore wealth management. The key for offshore wealth management is the selection of jurisdiction, setup of SPV, construction of assets control relationships and implementation and arrangement for cross-border investments. In addition, domestic entrepreneurs for cross-border asset restructuring are using SPV techniques, return investment, red chips listings, family inheritances, tax planning and international trade more often. With the rapid development of offshore financial services, a...

EXPERT INSIGHTS 2020