Hong Kong: Trusts

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Article
US$1.8 Billion At Risk: Hong Kong’s Cross-Border Asset Preservation Power In The Zong Family Trust Dispute
When substantive proceedings unfold in one jurisdiction while key assets sit in another, can courts preserve those assets without determining ownership? The Hong Kong Court of Appeal's decision in Jacky Zong v Kelly Fuli Zong addresses this critical question in cross-border family wealth disputes, examining whether preservation orders under section 21M require proof of dissipation risk, whether applicants must first seek relief from foreign courts, and how disclosure orders can ensure effective asset preser
Hong Kong Litigation
JT
Beijing Jincheng Tongda & Neal Law Firm
Article
Anti-Bartlett Provisions And The Trustee's Duty When Selling Trust-held Real Estate Through An Underlying Company
When a settlor-beneficiary requests the sale of real estate held through a trust-owned company, can the trustee simply inform the directors and step back? This article examines the trustee's active supervision obligations under the Bartlett duty, explores how anti-Bartlett clauses operate in practice, and reveals why professional trustees cannot shelter behind the corporate veil when conflicts of interest arise within the same corporate group.
Hong Kong Wealth Mgt
W
Walkers
Article
PRC Individual Income Tax On Offshore Trusts Considerations For Offshore Trust Structures
The PRC Ministry of Finance and State Taxation Administration have issued a groundbreaking announcement imposing individual income tax on offshore trusts with Chinese connections, treating them as tax transparent structures. This regime creates tax triggers throughout the trust lifecycle and includes a critical 90-day transitional filing window for existing structures. Affected individuals with offshore trusts connected to PRC residents or assets must urgently assess their compliance obligations under this
Hong Kong Tax
C
Conyers
Article
Hong Kong | The Great Wealth Transfer - Parents Beware!
As affluent families in Asia navigate 'The Great Wealth Transfer' between generations, a critical question emerges: how can parents protect family wealth from being divided in their children's potential divorces? This article examines the legal vulnerabilities of gifts, inheritances, and ongoing financial support in Hong Kong divorce proceedings, exploring whether traditional generosity might inadvertently benefit future ex-spouses outside the family.
Hong Kong Family
WL
Withers LLP
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