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By Brandon Tang British Virgin Islands (BVI) has evolved into a well-deserved international financial center which has been the most popular and important one for the global financial regime over the decades thanks to its evident advantages in terms of stability, transparency, innovation, improvement and professionalism. First of all, BVI owns the strongest supervisory system recognized by many international organizations, an innovative and sound legal system which has been implemented afterwards, high-quality service providers and professionals, and a regulatory system that effectively supervises financial services and industrial activities.As a result, a large number of international clients are attracted to choose...

EXPERT INSIGHTS 2020

By Dan Mitchell & Brian Garst High-growth nations have learned the importance of good tax policy when it comes to enhancing prosperity and living standards. Low marginal tax rates reward productive behavior by encouraging people to work more, save more, and invest more. Bad tax policy, on the other hand, can significantly stunt economic development.  More specifically, excessive taxes on capital such as capital gains, dividends, interest and inheritances taxes re particularly destructive because they inhibit the formation of capital, which all economic theories agree is necessary for economic growth.With economic growth comes advancement in human prosperity. Even slight differences...

EXPERT INSIGHTS 2020

By Michael Liu Introduction:The summer of 2013 is unusually hot. Likewise, the engine of the global economy is losing momentum because it's too hot. Liang Qichao said: "Poverty demands change, change carries development and permanence follows development."  The words of the Chinese reformist are still enlightening today. Has the world economy really stalled? Not really. It is just experiencing a major restructuring. We need the courage to face the change, the patience for new opportunities and the spirit to rebuild the world. hina is the youngest nation rather than an old one. On one hand, the pessimistic sentiment toward China is...

EXPERT INSIGHTS 2020

By Jeffrey Chen, Lawyer/Partner of Shanghai Chen He Law Firm Family trust has demonstrated its maturity and effectiveness in offshore jurisdictions as a succession vehicle. Thanks to growing demand for integrated wealth management from domestic high net worth individuals, quite a few domestic institutions have started using or recommending trusts as a wealth management tool to pass on property.  Recently, Ping An Bank offered the first family trust product while China Merchants Bank launched the country's first private-banking family trust, which well reflected market trend and expectations. The scenario has set a stage for family trust to declare roots and...

EXPERT INSIGHTS 2020

Ruiyin Law FirmSenior Partner Wang Hao In judicial practice, changes in marital relations are an important factor in the division of property. Therefore, entrepreneurs in Western countries often try to maintain their property via a variety of arrangement, including signing prenuptial agreements, setting up trusts and drafting estate distribution plans. Among them, prenuptial agreements and trusts are important measures. Take famous actor Tom Cruise as an example. By signing a prenuptial agreement to define all kinds of property ownership, when he got divorced with actress Nicole Kidman, Cruise, with a net worth of more than US$300 million, only paid Kidman US$4.3...

EXPERT INSIGHTS 2020

By Mark Lea A Decade of Change in Asia/Pacific:In 2002 Singapore decided, as part of its drive to attract wealth management, to amend its Trustees Act. The amendments came into effect late in 2004. These changes were conservative.Singapore did not wish to be compared with existing "offshore" financial centres lest the perceived stigma of that should affect the standing of Singapore.Therefore the changes were: To have a maximum specified perpetuity period of 100 years; To permit the accumulation of income throughout the continuation of the Trust; To provide for a statutory duty of care for Trustees, which can be contacted...

EXPERT INSIGHTS 2020

Malta Global Residence Programme Over the past years, the small island of Malta has been making itself known with various expatriates from all over the globe. This steady growth in interest in the Maltese islands is largely attributable toits warm climate, a rich historical and architectural heritage, along with extremely safe living conditions, thus making it a geographically ideal location for businessmen, an ideal setting for retirees and a friendly environment for the family.  These invaluable advantages have resulted in a considerable increase in foreigners seeking to obtain residency in our sunny archipelago and hence Malta's residence programmes and fiscal framework...

EXPERT INSIGHTS 2020

Whilst Malta's history, sun and sea might be a good reason for tourists to come to the island, they are surely complementary but not the sole reasons to attract prospective e-commerce and gaming operators to Malta. Indeed, to the gaming and e-commerce world, Malta represents more than that. Being a niche for ground breaking technological solutions, having reliable laws, providing fiscal advantages and a stable environment. Malta is one of the fastest growing information and communications technology markets in Europe quickly continuing its growth as a hub for e-commerce, digital gaming and online gambling. A Home for I-Gambling in Europe. As...

EXPERT INSIGHTS 2020