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The Cook Islands has a reputation for being at the forefront of international jurisdictions that provide trusted and legitimate asset protection. In fact, it is well known in the global financial community that the Cook Islands was the first country to create legislation allowing for modern asset protection trusts. With the enactment of its International Trust Act in 1984, the Cook Islands became preeminent in the global financial industry for confidentiality and protection of wealth for high net worth individuals and businesses. Although the international trust is the Cook Islands’ flagship financial structure, it has several financial vehicles and a...

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In the United States, Suze Orman is a popular financial guru on public television. Typical of her advice: “A big part of financial freedom is having your heart and mind free from worry about the what-ifs of life.” One of the best ways to minimize the “what-ifs” and the worry that goes with them is with a trust. With an inventory of your possessions, a few hours’ planning, and the help of a good attorney, anyone with wealth and assets can create one and they are among the most fool-proof, iron-clad legal entities known to man. One popular trust form,...

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The Mediterranean island of Malta has received over 700 applications under the citizenship by investment programme. It’s clearly not a numbers game but the numbers are nonetheless telling in their own right. The Malta Citizenship by investment programme pitches to the ultra-high net worth individual, whereby requiring a mixed contribution-investment ranging from €880k to €1.1m. The Malta Citizenship experience The Malta Citizenship by Investment programme or Individual Investor Programme offers citizenship within the European island of Malta after one year of sustained connections with Malta, concurrently with the maximum of 4 months’ processing time. Residency  This ‘residency’ test is less uncertain than one might...

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At the beginning of 2015 the scope of Liechtenstein company law was expanded with the introduction of the protected cell company (PCC), also known as the segregated portfolio company (SPC). This means that, when structuring their assets, economic players will in future have recourse to a legal entity which gives enhanced flexibility and legal certainty with regard to the allocation of liability. The PCC is not so much a new legal entity as a legal arrangement that allows additional organizational structures within existing legal entities. Normally you find this type of organization in the fund industry. It is already customary...

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Although China's economy is experiencing a slowdown amid global economic uncertainties, the number of Chinese super-wealthy is still increasing. There are over one million high net worth individuals in China and indications are that there is a clear trend among wealthy Chinese: their wealth is growing steadily; many send their children overseas for education; they are looking to move assets offshore and a growing number of them are willing to move overseas. As the trend for Chinese families to investment offshore gathers momentum they are looking overseas for financial solutions and many have adopted western-style tools such as trusts because...

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More than any other period in our history, the 21st century has seen – and will continue to see – the meeting of cultures and the interaction of economies, marked by ever more free trade and the free movement of people and services. Each year we shift closer towards becoming a global village therefore, it is essential that individuals seize the opportunity early to become an active part of this trend. Dual citizenship is one of the most effective means to become a global citizen and take advantage of opportunities in the international space. [Subsection] How Can Dual Citizenship Make You...

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Dubai’s population has been steadily doubling every 10 years approximately. Dubai’s suitable location between East and West, its top infrastructures and its tax-free environment (supported by an appealing network of double tax treaties) augur the continuity of this demographic growth – especially with the business opportunities rising in preparation for the EXPO 2020. As of 2014, Dubai had a population of 2,250,000 – out of which 85-90% were expatriates. These numbers are important in terms of asset protection. UAE laws are Sharia compliant and do not allow the same degree of flexibility when compared to other inheritance laws internationally. The...

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When affluent individuals and families ponder on their estate planning needs; asset management and protection; the preservation of wealth; tax and succession planning; business continuation and all other such ideas that is the privilege of the wealthy, the usual structure recommended by wealth management professionals is, and continues to be, the Trust. A Trust is administered by a trustee who has title to all of the assets and usually owns the shares of a privately held underlying company. The company can own a variety of assets ranging from bank accounts to immoveable property, or may have the right to receive income...

SPONSORED CONTENT 2020