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Navigating Property Investment Opportunities and Mitigating Their Tax Liabilities in the UK

Property in the UK, particularly London, has always been popular for Chinese Investors. Within the last year, however, the UK Tax authorities have changed their stance and all investors are now exposed to new taxes. Historically, foreign investors would use structures to reduce their exposure to taxes. Typically, it would be purchased using structures such as trusts, special purpose vehicles, private investment companies, or similar offshore corporate entities. This was the preferred method to purchase UK property because of the generous tax benefits. Even when ATED (annual tax on enveloped dwellings) taxation was introduced, it had little impact until what...
中文

Understanding of captive insurance grows in Asia; Labuan IBFC retains jurisdictional leadership

Four new captives registered between Jan to June 2019, making the jurisdiction the fastest growing captive domicile in Asia. “Risk management in the form of self-insurance or captives is on the rise, due to it being an overall cost-efficient and customisable risk mitigating tool,” said Danial Mah, Director General, Labuan Financial Services Association (Labuan FSA) at the launch of Labuan International Business and Financial Centre (Labuan IBFC) and Swiss Re Corporate Solutions’s event entitled “Adding Confidence to Captives: Managing Volatility via Self Insurance” today in Kuala Lumpur. Andre Martin, Head of Innovative Risk Solutions APAC, Swiss Re Corporate Solutions added...
中文

Labuan Financial Services Authority (LABUAN FSA) and China Banking and Insurance Regulatory Commission (CBIRC) commit to greater regulatory co-operation and collaboration

BEIJING, 19 March 2019 - The Labuan Financial Services Authority (Labuan FSA) and China Banking and Insurance Regulatory Commission (CBIRC) have entered into a Memorandum of Understanding (MoU) to foster greater co-operation and collaboration in regulatory and supervisory areas. The MoU provides the platform for Labuan FSA and CBIRC to enhance the regulatory and supervisory oversight of cross border branches and subsidiaries of China and Labuan based banks and insurance entities. In addition, through the MoU, the Authorities can undertake initiatives which are mutually beneficial for the development of financial businesses relating to banking and insurance between the two jurisdictions. It...
中文

Safe or Not? Why Does “Insurance Trust” Become a New Instrument Favored by the Rich?

Insurance trust is drawing attention from high net-worth individuals. The so-called insurance trust means that while signing an insurance contract with an insurance company, the insured signs another trust contract with a trust institution at the same time. Therefore, when the claims conditions come into existence, the insurance company will deliver the insurance compensation to the trust institution, which will open a special trust account for the beneficiary, manage and use such trust property in accordance with the trust contract, and deliver the benefits of trust to the beneficiary upon the expiration of the trust. Such combination of “insurance +...