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Tax and Jurisdictions

February 19, 2009

Banking giant UBS has done a deal with the US Department of Justice whereby it will escape prosecution in exchange for handing over the details of an undisclosed number of its wealthy American clients who it believes have committed tax fraud.

Banking giant UBS has done a deal with the US Department of Justice whereby it will escape prosecution in exchange for handing over the details of an undisclosed number of its wealthy American clients who it believes have committed tax fraud.

The DoJ had previously accused the Switzerland-based bank of conspiring to defraud the US by helping 17,000 Americans hide accounts from the Internal Revenue Service.

October 7, 2008

Ogier, a provider of offshore legal and fiduciary services, is launching a new personalised wealth planning service to ultra high net worth individuals and family businesses.

Ogier, a provider of offshore legal and fiduciary services, is launching a new personalised wealth planning service to ultra high net worth individuals and family businesses.

Branded Ogier Private Wealth, it will provide a wide range of tailored solutions including the establishment and on-going administration of trusts and private trust companies, the creation and administration of employer-funded structures, real estate advice and the formation and administration of investment funds - particularly in the area of private funds.

October 7, 2008

Investment Professionals (IPRO) has been managing family portfolios in the Indian Ocean and Sub-Saharan African regions since 1992.

Discretionary portfolios exceed US$200 million, with an international client base from Europe, Africa and Mauritius.

Investment Professionals (IPRO) has been managing family portfolios in the Indian Ocean and Sub-Saharan African regions since 1992.

Discretionary portfolios exceed US$200 million, with an international client base from Europe, Africa and Mauritius.

October 6, 2008

With property markets in freefall, where does this leave the family estate asks James Moore

With the global economy in a pronounced downswing, the seemingly never-ending rise in real estate values across the world has, in many economies, come to a juddering halt and gone into reverse writes James Moore.

October 6, 2008

Private family offices are increasingly being called upon to manage tangible personal property and art collecting has come to be viewed as a legitimate asset diversification strategy.

Private family offices are increasingly being called upon to manage tangible personal property and art collecting has come to be viewed as a legitimate asset diversification strategy writes Suzy Peterfriend Ross. Certain categories, contemporary art in particular, are currently outperforming other more traditional investment options.

October 6, 2008

When should you move your trust from one country to another and what’s the easiest way to do it?

Deals – known as indemnities – structured with former trustees can be the biggest obstacle to moving a family trust from one jurisdiction to another writes Robert Reynolds.

These indemnities are given to former trustees to protect them against any future litigation or liabilities that could follow on from their management of the trust.

October 6, 2008

People moving trusts in the US face a multitude of roadblocks. Lee Miller helps you navigate your way.

Location, location, location, writes Lee Miller. Where a trustor lives and in which state a trust is considered resident can affect how an estate plan is carried out and can add (or save) serious tax liability. There are state law based choices that need to be made on an informed basis otherwise the best planning can be an expensive error.
 

October 6, 2008

A lack of direction by the UK government has led to a fevered activity for wealthy, resident non-domiciled individuals. What is the state of play in a climate where many are considering taking their wealth elsewhere?

Businesses of any sort are much more likely to flourish in an environment that is certain and secure writes Rosemary Marr.

Certainly for UK residents and non-domiciled individuals, their advisors and the trustees responsible for their offshore arrangements, the six months that followed the UK Chancellor's first Pre-Budget Report was an exceptional period full of uncertainty.

However, even in a state of flux, it is possible to predict what changes are likely to happen and anticipate how to react.

September 23, 2008

Families with a popular form of UK trust have just two weeks to reorganise their affairs or they could face a stiff 20% tax hit.

Families with a popular form of UK trust have just two weeks to reorganise their affairs or they could face a stiff 20% tax hit.

According to law firm Boodle Hatfield, the "life interest trust" charge follows Gordon Brown's 2006 Budget, which has significantly curtailed the ability to create new trusts without an upfront tax charge.

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