Business Organization, Wills, Trusts, & Estate Planning, International Law & Trade

Foreign Account Tax Compliance Act (FATCA) Registration

by Darren Mills | Berkeley Research Group, LLC on 5/6/2013

Beginning on December 31, 2013, the qualified intermediary (QI), withholding foreign partnership (WP), and withholding foreign trusts (WT) will be subject to the requirements of a foreign financial institution (FFI). As a...more

Considerations For International Clients Who Intend to Buy A Home In the U.S.

by Amy McEvoy | Sheppard Mullin Richter & Hampton LLP on 4/23/2013

International buyers invested $82.5 billion in U.S. residential real estate (4.8% of total U.S. sales) according to the most recent survey conducted by the National Association of Realtors for the 12 month period ending with...more

Personal Use Of Corporate Property In A USRPI Holding Company Structure

by Charles (Chuck) Rubin on 4/1/2013

To insulate the ultimate individual owners from U.S. estate taxes, nonresident aliens often hold U.S. real property in a U.S. corporation, which corporation is owned by a foreign corporation. The foreign corporation is owned...more

Why the Classic Legal Terminology of the Anglo-American Trust is in French, Not English: The “Law French” Phenomenon

by Charles E. Rounds, Jr. on 4/1/2013

The institution of the trust, a creature of the English Court of Equity, evolved deep in the bosom of the Anglo-American legal tradition. France, a civil jurisdiction, lacks a legal institution that is truly comparable. Her...more

UK property tax changes: “de-enveloping” or a use of a trust?

by Henry Mander, Colin Riegels | Harney Westwood & Riegels on 1/21/2013

It has long been popular for high net-worth people who are not domiciled in the United Kingdom (“non-doms”) to form an offshore company, often in the British Virgin Islands (“BVI”), for the purposes of holding property in the...more

Rappelling Down the Fiscal Cliff – Strategies for Cushioning the Fall – Part II

by Gerald Nowotny on 11/14/2012

A. Overview - Part I of this series focused on the impact of impending tax increases following the Presidential Election for corporate executives and salaried professionals. Part II of the series will focus on...more

The Anglo-American Trust is Powerful and Nimble, but not a Magician

by Charles E. Rounds, Jr. on 10/1/2012

The great English legal scholar, Frederic William Maitland (1850-1906), saw the trust as “an ‘institute’ of great elasticity and generality; as elastic, as general as contract.” It is hard to disagree. Most mutual funds are...more

Minimize Estate Tax on Foreign Assets

by Sanford Millar on 4/30/2012

A recent U.S. Tax Court case provides a road map to minimize estate tax liability. In Wandry v. Commissioner the Tax Court held that a gift of an interest in a closely held business that was defined by dollar amount rather...more

Supreme Court of Canada Decides on Trust Tax Residency

by Osler, Hoskin & Harcourt LLP on 4/13/2012

The Supreme Court of Canada dismissed the taxpayers’ appeal in Fundy Settlement (also known as Garron or St. Michael Trust Corp.), deciding on April 12, 2012 that the relevant trusts were resident in Canada rather than...more

Is Hong Kong Asia's Next Trust Centre?

by Harney Westwood & Riegels on 3/23/2012

Originally published in ASIAN LEGAL BUSINESS - February 2012. Historically, setting up private trusts offshore has been a preferred vehicle for Asia’s wealthy families and individuals to manage their assets as they crave...more

Registering security over trust property

by Harney Westwood & Riegels on 2/27/2012

One of the great attractions of the British Virgin Islands (“BVI”) as a jurisdiction for structuring finance transactions is the simple yet thorough security registration regime applicable to BVI companies....more

Doing Transactions in Mexico - Conducting Due Diligence

by Sheppard Mullin Richter & Hampton LLP on 1/11/2012

Conducting due diligence is a key aspect of any transaction, international or otherwise. Attorneys working on transactions conducted in Mexico or that involve Mexican entities ought to be aware of registration and...more

Tax Traps of Passive Foreign Investments (Reporting the Family Business)

by Sanford Millar on 11/28/2011

Many taxpayer’s have interests in offshore business that they acquired through inheritance or gift. Often these interests are purely passive, in that the U.S. taxpayer does not take an active role in management but instead...more

Confidentiality in the BVI and Cayman Islands

by Harney Westwood & Riegels on 11/4/2011

The issue of confidentiality in offshore financial centres is high on the agenda in the financial press. Whether it is banking secrecy or the disclosure requirements governing the establishment of offshore companies and...more

Designation of Systemically Important Financial Institutions, Living Wills and Enhanced Prudential Regulation One Year Later: A...

by Dechert LLP on 7/14/2011

Congress passed the Dodd-Frank Act one year ago to reduce or eliminate the risks that led to the financial crisis. Today, there is growing concern that the laser-like focus on risk reduction was not properly balanced by an...more

High Net Worth Family Tax Report - April 2011

by Loeb & Loeb LLP on 4/7/2011

CONTENTS - Vol. 6 No. 1 Foreign Bank Account Reporting Update – Final FBAR Regulations and New 2011 Offshore Account Voluntary Disclosure Program . . . . . . 1 New Foreign Reporting under the Foreign Account Tax...more

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Business Organization › Wills, Trusts, & Estate Planning › International Law & Trade