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Tax and Jurisdictions

Playing by rules is best, says Liechtenstein tax amnesty expert
February 9, 2012

Extending the deadline to disclose assets held in Liechtenstein is an “important development” for British ultra-high net worth families, but it will be “dangerous to wait” to come clean about tax arrears.

Extending the deadline to disclose assets held in Liechtenstein is an “important development” for British ultra-high net worth families, but it will be “dangerous to wait” to come clean about tax arrears.

That’s according to Philip Marcovici, a member of the board of wealth manager Kaiser Partner and a former partner at law firm Baker & McKenzie.

Family offices need to plan for FATCA
December 2, 2011

Family offices, particularly those in Asia, need to be active and contact their financial institutions about the new US Foreign Account Tax Compliance Act, according to a leading tax lawyer. 

Family offices, particularly those in Asia, need to be active and contact their financial institutions about the new US Foreign Account Tax Compliance Act, according to a leading tax lawyer.

Tom Humphreys, from law firm Morrison & Forester, said financial institutions in Europe were more likely to be aware of the new legislation, which is expected to come into effect on 1 January 2014, than smaller banks in developing economies, where US tax laws do not usually have as much of an impact.

Swiss wealth managers to lose billions on tax crackdown
November 30, 2011

Banks in Switzerland could lose as much as CHF50 billion (€40.7 billion) in assets under management as a result of a tax crackdown by the UK and Germany, says a new study. According to management consulting firm Booz & Co, wealth managers in Switzerland will also lose CHF1.1 billion in revenues, as clients with the two European countries withdraw their money before the tax treaties come into effect in 2013.

Banks in Switzerland could lose as much as CHF50 billion (€40.7 billion) in assets under management as a result of a tax crackdown by the UK and Germany, says a new study.

According to management consulting firm Booz & Co, wealth managers in Switzerland will also lose CHF1.1 billion in revenues, as clients with the two European countries withdraw their money before the tax treaties come into effect in 2013.

Wealthy families and family offices should take quick action to clear tax arrears, says expert
November 29, 2011

Ultra-high net worth families and family offices in the UK need to move quickly and clear up their tax arrears to benefit from the Liechtenstein Disclosure Facility, according to an expert in international taxation.

Ultra-high net worth families and family offices in the UK need to move quickly and clear up their tax arrears to benefit from the Liechtenstein Disclosure Facility, according to an expert in international taxation.

“If families are not dealing with clearing [undisclosed assets], they are not doing the next generation any favours. The LDF is a way to change that at a time when passing on wealth is a challenge,” Philip Marcovici, a member of the board of wealth manager Kaiser Partner and a former partner at law firm Baker & McKenzie, told CampdenFO.

The Dodd-Frank Act and Europe
November 10, 2011

Many multi family offices in the UK are already subject to Financial Services Authority regulation and SEC requirements would not impose much more in the way of additional compliance requirements other than a possible inspection, says Stonehage Investment Partners’ Paul Hecker. 

Many multi family offices in the UK are already subject to Financial Services Authority regulation and SEC requirements would not impose much more in the way of additional compliance requirements other than a possible inspection, says Stonehage Investment Partners’ Paul Hecker.

“As with the asset management industry, some family offices may choose to ringfence their US client business in a separate entity to avoid the whole of their business being subject to SEC regulation.”

Dodd-Frank: The worst case for family offices
November 10, 2011

Charles Lowenhaupt of Lowenhaupt Global Advisors is perhaps the most vocal critic of the new regime. In a white paper written in July, he claimed the rules introduced under Dodd-Frank posed the most significant institutional challenges in history to US families of wealth and family offices. 

Charles Lowenhaupt of Lowenhaupt Global Advisors is perhaps the most vocal critic of the new regime. In a white paper written in July, he claimed the rules introduced under Dodd-Frank posed the most significant institutional challenges in history to US families of wealth and family offices.

Wilmington Trust
February 25, 2011

Wilmington Trust understands that managing family wealth is a long-term proposition. Many of our client relationships span multiple generations, and we continue to manage assets for descendants of our founding family.

 

Our Wilmington Trust Corporate Family

Wilmington Trust understands that managing family wealth is a long-term proposition. Many of our client relationships span multiple generations, and we continue to manage assets for descendants of our founding family. 

The Family Business Consulting Group, Inc
February 25, 2011

The associates of The Family Business Consulting Group, Inc understand the unique challenges that a family business faces. We help both the family and the business.

 

The associates of The Family Business Consulting Group, Inc understand the unique challenges that a family business faces. We help both the family and the business. From Fortune 500 operations to smaller, closely held companies we help family businesses around the world explore solutions to family and business issues, decide on the best course of action, and implement plans that will help the family business succeed for generations.

Swiss Life
February 25, 2011

Private Placement Life Insurance (PPLI) is an innovative business unit of Swiss Life with offices in Dubai, Liechtenstein, Luxembourg, Singapore & Switzerland. The company is a leading provider of life insurance for high net worth individuals. The pension & estate planning solutions are distributed in cooperation with renowned private banks, family offices, law firms and asset managers.

 

Private Placement Life Insurance (PPLI) is an innovative business unit of Swiss Life with offices in Dubai, Liechtenstein, Luxembourg, Singapore & Switzerland.  The company is a leading provider of life insurance for high net worth individuals. The pension & estate planning solutions are distributed in cooperation with renowned private banks, family offices, law firms and asset managers. 

Smith & Williamson
February 25, 2011

Smith & Williamson provides a traditional service where the focus is on developing a relationship of trust and integrity.

 

Smith & Williamson provides a traditional service where the focus is on developing a relationship of trust and integrity.

Our private client services include investment and private banking facilities as well as tax, trust, pensions and financial planning advice. Because of this broad range of services, we offer a multi-disciplinary approach to financial advice.

We are proud of the high standards we set ourselves.