WHAT IS A FOUNDATION? A Foundation is a separate legal entity formed by the dedication of property to specified purposes. A Founder dedicates property to his/her chosen purpose (such as family or charitable purposes); the foundation is registered and becomes a legal entity, giving clients the added comfort and ensuring separation from the Isle of …
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(Picture of the attendees of a Moores Rowland Asia Pacific conference in October 2019) A Foundation is a relatively new concept to common law jurisdictions. What follows is a quick review of Trusts vs Foundations vs Wills. Note that this is a somewhat complex subject and professional advice is always suggested. This is only an …
We have published on trusts and foundations before – https://htj.tax/?s=trusts+foundations What are trusts used for? • Succession • Protection from business failure • Vulnerable beneficiaries • Philanthropy • Anti forced-heirship • Side-stepping probate • Pensions • International families • Difficult-to-split assets • Family-business ownership • Dynastic planning • Bankruptcy • Divorce • Retention of …
Americans Connected with Offshore Foundations Foreign entities have their advantages and can be very beneficial if structured and deployed thoughtfully. If not, be prepared for problems. Especially if you’re not compliant with all relevant US laws. Among the various options for foreign entities, launching a foreign foundation company is a complex undertaking that requires …
http://www.economist.com/news/international/21589462-cleaning-up-trusts-and-similar-entities-will-hurt-money-launderersbut-it-will-need-lot WHEN Mark Morris, a Zurich-based tax consultant with a conscience, requested a meeting with the European Commission to explain the many devious ways in which tax evaders were using shell companies and other vehicles, a bored official offered him 20 minutes. “Once I started describing all the loopholes,” Mr Morris recalls, “his eyes lit …
Tax authorities and advisors are adapting to the evolving landscape by incorporating more analytics. They are now exploring advanced techniques like data analytics and Artificial Intelligence (AI) to assist with compliance and provide support for frequently encountered inquiries. Although data analytics has been heavily discussed, the use of Artificial Intelligence in tax is still relatively …
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New European Commission proposals seek to crack down on the misuse of shell companies. We have consistently warned against advisers who encourage structures with no commercial benefit. Structures that would be entered into solely for tax benefits. Such advisors are sadly out of touch and will cause their clients no end of pain Just within …
The Ultimate Guide or Private Client Law in Portugal is here. Everything you wanted to know…
WASHINGTON — The hedge fund magnates Daniel S. Loeb, Louis Moore Bacon and Steven A. Cohen have much in common. They have managed billions of dollars in capital, earning vast fortunes. They have invested large sums in art — and millions more in political candidates. Moreover, each has exploited an esoteric tax loophole that saved …
COUNTRY JERSEY REGION Europe POPULATION 101,476 (July 2021 est.) GENERAL INTRODUCTION The offshore Channel Island of Jersey is the largest of the British Channel Islands, having an area of 45 square miles and a population of some 84,000 people. Although located off the north coast of France, it is part of the British Isles, …