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Independent Wealth Management Forum 2019 HK - Exclusive Insights - John Ashwood - 2

John Ashwood of ZEDRA

Oct 28, 2019

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1. What motivates a client today to have a ‘structure’ in an IFC? Succession planning? Diversification? Asset protection? Privacy?

Video transcript

1. What motivates a client today to have a ‘structure’ in an IFC? Succession planning? Diversification? Asset protection? Privacy?

At the end of the day, in creation of a structure, you've got to make a choice. It's got to be housed somewhere. It's got to be located somewhere. So frankly, a lot of the onshore jurisdictions may not be favorable from a legal point of view, from a taxation point of view. Even the onshore jurisdictions, you might say, have the uncertainties in terms of political issues, economic issues. You've got, for example, the situation occurring with the UK at the moment. Would it be wise to establish a UK on shore trust? As I say, while there's still such uncertainty surrounding the Brexit deal. So, I think IFCs, and if we're going to call them the offshore and midshore jurisdictions, offer that sort of neutrality, you might say. Often, many of them extremely well-established jurisdictions. I would make reference to jurisdictions like Jersey, Guernsey, Cayman. As I say, very well-established judiciary. A lot of experience in handling trust matters/ And as I say, quite often better regulatory environment, legislative environment and support services, professional services to make them the most suitable jurisdictions.

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