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Under the COVID-19 Situation, British Immigration Policy Continue Making a Splash

"No matter where you are, our mission is to tailor the best investment and immigration services for you." For many years, the UK has been the first choice for HNWIs to settle down and invest. The sudden outbreak disrupted many people's plans and seriously affected the international immigration market. In the face of the COVID-19, various countries have made many moves; the United States tried to prevent new immigrants from entering and suspended the issuance of green cards. Thailand has suspended landing visas. Many European countries have completely blocked their borders. In contrast, the move of the Home Office is...
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Navigating Property Investment Opportunities and Mitigating Their Tax Liabilities in the UK

Property in the UK, particularly London, has always been popular for Chinese Investors. Within the last year, however, the UK Tax authorities have changed their stance and all investors are now exposed to new taxes. Historically, foreign investors would use structures to reduce their exposure to taxes. Typically, it would be purchased using structures such as trusts, special purpose vehicles, private investment companies, or similar offshore corporate entities. This was the preferred method to purchase UK property because of the generous tax benefits. Even when ATED (annual tax on enveloped dwellings) taxation was introduced, it had little impact until what...
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Economic Substance Requirements for Cayman Islands Companies

The Cayman Islands International Tax Co-operation (Economic Substance) Law, 2018 (the “Economic Substance Law”), which is part of the OECD's global Base Erosion and Profit Shifting (BEPS) initiative, was passed on 17 December 2018 and came into effect on 1 January 2019. The Economic Substance Law will be implemented, including by further regulations and guidance to be provided, by the Cayman Islands Tax Information Authority (“TIA”). All international offshore financial centres (including Bermuda, BVI, Jersey, Guernsey and Hong Kong) already have or will implement similar legislation. To whom does the new Economic Substance Law apply? All companies incorporated under the...
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Overseas Fund Strategies: Investing in Periods of Uncertainty

Lately, an increasing amount of investors have asked us what will happen in the US real estate market.  “Is the real estate market going to hold up?” “What’s going to happen with the 2020 election?” “Do you think the Fed will continue hiking rates?” “Are markets going to adjust?” All good questions.  We usually throw it right back and ask, “What do you think?  Let’s walk through the scenarios together.” The investors usually reference data points they gathered and talk about the long bull cycle, the dynamics in the US government, recent stock market volatiliy, but struggle to come up...
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Profile - Cayman Islands

Executive Summary:Cayman is the largest offshore banking centre in the world, and the second largest offshore captive insurance base after Bermuda. There are no direct or indirect taxes; government revenue comes from customs duties, stamp duty and annual fees levied on corporations. A recent attempt by the administration to impose a payroll tax was withdrawn in favour of a substantial increase in work permit fees. It is thus difficult and expensive to employ expats. The economy is highly dependent on tourism and financial services. Since the opening of the Cayman Islands Stock Exchange in 1997, mutual funds have become a growing...
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Switzerland: More Than an International Private Wealth Management Center

For many people, Switzerland is both miraculous and mysterious. In films, we frequently see scenes like this: one of the richest people in the world walks quietly into a private bank in a street corner in Switzerland, where he has deposited a hefty chunk of cash. Switzerland has a national territorial area of more than 40,000 km2. It is a little larger than Hainan Province, a little smaller than the Ningxia Hui Autonomous Region, and about half the size of Chongqing, China. Switzerland has a population of over eight million, which is equivalent to the population of Shandong Province’s Jining...
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SEYCHELLES TRUSTS AND FOUNDATIONS

Seychelles trusts are provided for by the International Trusts Act, 1994. A trust is created when the owner of the assets (the settlor) transfers ownership of those assets to a trustee to hold and administer under the terms of a trust deed for the benefit of one or more beneficiaries or for a charitable or other purpose. As the assets of a trust are not the property of the settlor, trusts are useful vehicles for wealth management purposes including to hold and protect family wealth and for ‘outside estate’ succession planning. Although a Seychelles trust is registered with the Seychelles Financial Services Authority...
中文

Economic Substance Requirements for Cayman Islands Companies

The Cayman Islands International Tax Co-operation (Economic Substance) Law, 2018 (the “Economic Substance Law”), which is part of the OECD's global Base Erosion and Profit Shifting (BEPS) initiative, was passed on 17 December 2018 and came into effect on 1 January 2019. The Economic Substance Law will be implemented, including by further regulations and guidance to be provided, by the Cayman Islands Tax Information Authority (“TIA”). All international offshore financial centres (including Bermuda, BVI, Jersey, Guernsey and Hong Kong) already have or will implement similar legislation. To whom does the new Economic Substance Law apply? All companies incorporated under the...