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15 March 2019
Hong Kong, Guernsey, British Virgin Islands
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Ogier's Marcus Leese will bring to life the advantages of Guernsey structures to Asian clients when they address Hong Kong based trust and estate professionals at the STEP Hong Kong event on 28 March.
Marcus, a partner in Ogier's Guernsey team, will illustrate the key features of Guernsey trusts and foundations that make them attractive to Asian clients through an introductory overview of key features and a case study of a Hong Kong family consciously choosing the Guernsey foundation as the family's succession planning vehicle to hold its worldwide business, personal art collection, overseas properties and to carry out their philanthropic works.
"We will also look at how Guernsey trusts and foundations differ from similar structures in other jurisdictions, proposed further developments in Guernsey trust law, and how Guernsey trusts and foundations can be used in conjunction with clients' existing companies and assets in other jurisdictions."
Marcus, who practised in the firm's Hong Kong team between 2010 and 2014, said: "In recent years, Ogier has advised more and more Asian clients on establishing and benefiting from Guernsey trusts and foundations in order to hold and protect wealth.
"China generates more new HNWIs than most (if not all) western countries and those HNWIs increasingly understand the need for offshore structuring for their personal and business assets around the world. The newly announced change in PRC personal tax regime, increase in the divorce rate and migration overseas have all increased this. The attractions of Guernsey to service this need remains as it always has – amongst them, highly experienced professional advisors and service providers, robust court system and clear rule of law, thoughtful and modern company and trust legislation, firewall legislation and high standards of regulation.
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