|Programme Code :||20200106|
|Event Date :||6 January 2020 (Monday)|
|Time :||6 : 30 pm - 8 : 00 pm (6 : 00 pm registration)|
|Venue :||Rm 201, 2/F, 15 Hennessy Road, Duke of Windsor Social Service Building, Wanchai, HK||View google map|
|Speakers :||Mr Richard Grasby|
|CPD Credit :||1.5 hrs|
|Proficiency Level :||Intermediate Level|
HK $ 250 for TIHK member / student
HK $ 350 for Non-member
HK $ 300 for members of organizations of CPD Alliance
Trust structuring for international clients involves a number of moving parts. What are the Settlor’s objectives in setting up a trust? Where is the Trustee located? What powers would the Settlor or Protector wish to have (if any)? Where are the assets located? Where are the Beneficiaries?
There are many structures which can be put together for a client. However these objectives have to be weighed against the location of the assets to be held in trust and the residence / citizenship / domicile of the Settlor and intended beneficiaries. This can be made more difficult when dealing with countries which are not familiar with trusts. Taxation is one of the main such considerations.
It is necessary to consider:
- the possible taxation of the Settlor at the time of the establishment of the trust and on an ongoing basis
- the taxation of the Trustees
- the taxation of the underlying trust investments
- the taxation of the beneficiaries
- the increased reporting obligations
The speaker will highlight some of the issues to be considered when establishing a trust.
Who should be a beneficiary?
Should any persons be excluded?
Who should have any reserved powers?
What about a private trust company?
Are multiple trusts more efficient?
What assets should be held in trust and how should they be held?
What information will be reported?
Richard Grasby is a very experienced trusts, funds and private wealth lawyer. He has experience in multiple jurisdictions and has been admitted as a lawyer in England & Wales, the Cayman Islands and the BVI.
Richard has expertise in the establishment and administration of offshore entities including trusts, companies and investment funds. He has significant experience in compliance, governance and account opening. Richard also has considerable involvement in private trust companies, family constitutions and succession planning. He has worked with clients and advisers in numerous jurisdictions.
Richard lived and worked in Asia for over 10 years. Prior to that, he was based in the Cayman Islands. He has also worked in Jersey and London.
Richard is the immediate past chair of STEP Hong Kong branch, a committee member of the STEP Business Families Global Special Interest Group and a committee member of the STEP International Client Global Special Interest Group. He is a member of the Hong Kong Trustees Association and a lecturer on their Trust Training Certificate course.