Articles & Video
Complex offshore structures – traps and pitfalls: a practical guide
There has been a growing trend over recent years for the development of bespoke and complex holding structures to accommodate the needs and sensitivities of ultra-high net worth individuals. Often, the clients originate from civil law jurisdictions and as a consequence are unfamiliar with trusts and the fiduciary relationship created. There is (understandably) suspicion.
I can see clearly now…
In recent years, there has been a positive deluge of reporting initiatives affecting UK individuals, entities and structures with a UK connection. Some of these have come from the USA (so-called “FATCA”), some from the OECD (the Common Reporting Standard), others from the EU (as a result of the 4th Anti Money Laundering Directive) and others are simply ground-breaking initiatives by the UK government.
60 Seconds with Ted Baumann
Speaking from a U.S. perspective, the main issue is the broadening of the market for emigration support services to include many people who had never thought about it previously and who are starting from scratch, as it were.
60 seconds with Richard Dew, Ten Old Square
There is a wide spread perception that the number of new trusts being created – here and offshore – is reducing. This, combined with increasingly complex (and unnecessary) regulation and transparency requirements, means that it can be foreseen that the market for trust services is likely to contract, leading to less trust disputes.