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Programme

"The reports of my death have been greatly exaggerated." Mark Twain, after hearing that his obituary had been published in the New York Journal. Wednesday 17 November 2010 Chairman - F. Ronald Jenkins Jr., Meridian 361 International Law Group PLLC, London, UK Day One of the Conference will examine opportunities and risks relating to the United States. Many have already published the obituary of the U.S., as far as offshore is concerned. But is that not premature? 08.15 - 09.00 Breakfast with the experts   Breakfast Session 1: U.S. Federal Income Taxation 101: Understand the Way the U.S. will tax Cross-Border Transactions and Assets F. Ronald Jenkins Jr. and Howard S. Fisher, Law Offices of Howard S. Fisher, California, USA The way in which the U.S. will tax cross-border transactions and assets has been and will continue to be one of the most important drivers in the offshore sector - creating markets for due diligence, compliance and tax efficient structures and strategies. At the same time, the penalties for non-compliance are severe. No client, service provider or regulator can afford ignorance of this important subject. This breakfast session will provide you with illuminating exposure to the basic U.S. international tax framework and key U.S. international tax concepts, equipping you with an analytical tool you can use to orientate yourself any time you are confronted with a transaction or assets with connections to the U.S. or a U.S. person. This session will provide a foundation for the building of the Conference. Breakfast Session 2: U.S. Tax and Regulatory Update: Recent Developments that Impact on Offshore Bobbe Hirsh, Lipscomb, Brady & Eisenberg, PL, Miami, Florida For those already well grounded in U.S. international taxation, or who would simply rather focus on U.S. international tax developments occurring within the last year. Bobbe, who recently attended meetings with the OECD in Paris, will explain why the Hiring Incentives to Restore Employment Act signed into law by President Obama in March 2010 is about much more than jobs, and has a direct, profound impact on all offshore clients, financial institutions and service providers.   09.00 - 09.15 Chairman's Welcome Address and Introduction F. Ronald Jenkins Jr., Meridian 361 International Law Group PLLC, London, UK 09.15 - 10.00 Is There a U.S. Client in Your Future? Yes!: A Survey of Viable Structures and Service Offerings for U.S. Clients in the New Era Howard S. Fisher, Law Offices of Howard S. Fisher, California, USA The last decade has seen a series of very serious, concerted attacks against the offshore finance centres waged by the Internal Revenue Service, the U.S. House and Senate and consecutive U.S. administrations. Howard reviews and considers the present market conditions and grapples with these important questions weighing on many professional minds - are the attacks a fatal blow to the U.S. market for offshore services? Is the U.S. now closed to offshore service providers? Are U.S. clients now cut off from offshore? As the title of the presentation suggests, there are a number of exciting, profitable and fully compliant offshore structures and strategies that are viable. Adapt, thrive and prosper! 10.00 - 10.45 Offshore Captive Insurance Structures for the U.S. Market Jeffrey A. Kurz, Neace Lukens Captive Services, Ohio, USA With income tax and estate tax rates set to rise in the U.S., captive insurance companies, already a favoured structure for the U.S. market, will have increasing appeal, offering U.S. management and U.S. shareholders a superior strategy for risk management, improving profitability, achieving asset protection, and accomplishing legitimate estate tax and income tax planning. The Internal Revenue Code and Regulations make specific provision for captive insurance, and these are backed up by case law and detailed IRS rulings. While it is true that a number of onshore jurisdictions in the U.S. have legislation allowing for captives, for a number of reasons, offshore alternatives remain the best option in many instances. Jeffrey draws on his deep expertise and broad experience in the world of captives in order to address all of the key questions - What is a captive? What are the key provisions of the U.S. tax code and regulations that allow for captives? How can a captive achieve asset protection? How can a captive assist with lawful income tax and estate tax planning? What are U.S. clients looking for in selecting a captive domicile and service provider? What are the more important aspects of offshore captive legislation from the client's point of view? Is the U.S. likely to legislate against captives? 10.45 - 11.15 Morning Coffee 11.15 - 12.00 Olmstead, Et Al., v. Federal Trade Commission - U.S. domestic limited liability companies -going, going, gone as an asset protection vehicle; travel offshore & create a viable asset protection solution Richard J. Alan Cahan, Becker & Poliakoff, Florida, USA Recent U.S. judicial decisions have called into question the asset protection benefits of the domestic limited liability company. This is an important development for clients seeking protection from creditors, and for offshore finance centres alike. The weakening of the domestic LLC creates a new challenge for clients, and an enticing market opportunity for traditional offshore asset protection service providers. Richard reviews and interprets the cases, and identifies the opportunities, risks and rewards drawing on his own experiences as an asset protection attorney in the international litigation hotbed of Miami. 12.00 - 12.45 Tax Planning and Asset Protection for the High-Net-Worth U.S. Client Using Offshore Private Placement Life Insurance Jeffrey A. Kurz, Neace Lukens Captive Services, Ohio, USA & Peter Cahall, The Newport Group, Florida, USA Offshore private placement life insurance is a structure that provides superior opportunities to the private, high-net-worth client for asset protection, tax deferral, tax free investing, access to otherwise restricted investment opportunities, and a range of other substantial benefits. Again, it is supported by specific Internal Revenue Code sections and Regulations, and IRS rulings. Jeffrey and Peter outline this important strategy, and address the important questions - What is offshore private placement life insurance? What are the key provisions of the U.S. tax code and regulations that allow for private placement life insurance? How can private placement life insurance achieve asset protection? How can private placement life insurance assist with lawful income tax and estate tax planning? What are U.S. clients looking for in selecting an issuer of private placement life insurance, an investment manager and a service provider? What are the more important aspects of offshore private placement life insurance legislation from the client's point of view? Is the U.S. likely to legislate against private placement life insurance? 12.45 - 13.15 Panel Discussion Chairman F. Ronald Jenkins Jr. presents the morning's speakers with questions that have been drawn from the audience and developed by Offshore Investment in a managed format. At closing, the floor is opened for direct questions from the audience. 13.15 - 14.30 Luncheon 14.30 - 15.15 Offshore Structures for U.S. Deferred Compensation and Executive Benefit Plans Peter S. Cahall, The Newport Group, Florida, USA The market for retirement planning services for high-net-worth U.S. clients is large and growing. A non-qualified deferred compensation plan can be a valuable supplement to a company's 401(k) and other qualified retirement plans-giving employers an edge in recruiting and retaining valuable executive leadership. Peter provides key executives with information and education that will assist them in building wealth and a tax-efficient way to supplement their retirement. Peter outlines the opportunity for clients and offshore service providers alike. 15.15 - 16.00 Clyde Allen Smythe Howlett: (a.k.a. CASH) Alright, his eyes may be a little too close together for comfort, some might even describe them as beady, but sharp-dressing, swaggering Clyde Allen Smythe-Howlett is the epitome of charm, particularly when in front of an audience of prospective 'marks', a.k.a. Conference attendees. Have your check books ready and allow yourself to be swept away by Clyde's silver tongue and boundless confidence as he runs his latest high-yield investment scheme by you. Forget Warren Buffett, he's a lightweight compared with Clyde, whose scheme promises massive returns, carries no-risk, and is secured by his own personal guarantee. 16.00 - 16.30 Afternoon Tea 16.30 - 17.00   Expatriation, Residence Planning and Second Passport Programmes Bobbe Hirsh, Lipscomb, Brady & Eisenberg, PL, Miami, Florida, USA The taxpayer's physical movement out of the home taxing jurisdiction may be the ultimate form of tax planning. In residence-based systems of taxation, physical relocation to a tax neutral jurisdiction with legislation tailored to the migrant high-net-worth individual, can be very effective. In citizenship-based systems of taxation, such as the U.S., matters are more complicated. With tax rates set to rise, clients are showing a renewed appetite for this type of planning. Bobbe discusses the legal framework, and examines the risks and rewards. 17.00 - 17.45   Strategic Defensive Planning for the Offshore Client: Understanding and Avoiding the Civil Jurisdiction of U.S. Courts and Managing U.S. Civil Litigation F. Ronald Jenkins Jr., Meridian 361 International Law Group PLLC, London, UK A look at litigation risk. Offshore clients and service providers need to understand the nature and reach of the jurisdiction of U.S. courts, and plan for it in advance. If the advance planning fails and a U.S. lawsuit erupts, there are defensive strategies that can be deployed even during and after the litigation. Ron has been involved in numerous cross-border litigations, he will review and examine key defence strategies for the hapless offshore client embroiled in cross-border litigation. 17.45 - 18.00   Panel Discussion Howard S. Fisher presents the afternoon's speakers with questions that have been drawn from the audience and developed by Offshore Investment in a managed format. At closing, the floor is opened for direct questions from the audience.   "They stood begging to be the first to make the voyage over and they reached out their hands in longing for the further shore." Virgil, The Aeneid Thursday 18 November 2010 Chairman - F. Ronald Jenkins Jr., Meridian 361 International Law Group PLLC, London, UK Day Two of the Conference primarily examines risks and opportunities that are not U.S. specific - opportunities in other geographies, or opportunities that are not geographically dependent. 08.15 - 09.00 Breakfast with the experts   Breakfast Session 1: Internet Commerce: How OFCs and Service Providers Can Grow with the Digital Future of Commerce L. Burke Files, USA The dot-com bubble collapsed 10 years ago, and e-mania has subsided, however, the internet and e-commerce infrastructure is well established and growing, and e-commerce increases annually in terms of both market share and value. Governments are eyeing different ways to tax and regulate the virtual economy with renewed interest. What are the implications? Burke makes the case for a coming boom in offshore e-commerce, and identifies the steps that offshore finance centres, service providers and clients need to take in order to participate. Breakfast Session 2: EU Tax and Asian Regulatory Update: Recent Developments that Impact Offshore Bobbe Hirsh, Lipscomb, Brady & Eisenberg, PL, Miami, Florida, USA A look across the Atlantic and then across the Pacific. For the attendee with existing business in Europe and Asia, or who aspires to develop it, Bobbe draws on her experience with the OECD and surveys the most important developments of the last year. She will provide correct and cutting edge information on the most pressing and relevant European and Asian tax and regulatory issues of today. 09.00 - 09.15 Chairman's Welcome Address and Introduction F. Ronald Jenkins Jr., Meridian 361 International Law Group PLLC, London, UK 09.15 - 10.00 OFCs and the Intangible Economy: Why the Protection of Patents, Trademarks, Copyrights and Other Intellectual Property is Becoming the Key Strategic Driver of Offshore L. Burke Files, USA Commentators routinely reference America's trade deficit. Few, however, make the crucial distinction between goods and intangibles. America has a large and growing trade surplus in intangibles - intellectual property protected by copyrights, patents, trademarks and common law doctrines. All sophisticated, mature economies are information-innovation-intangible economies. Information and intangibles are most amenable to offshore structuring. Offshore finance centres that understand this and introduce forward-looking legislation that is designed to service the unique needs of the key participants in the intangible economy will achieve a distinct competitive advantage. Burke discusses the intangible economy, reviews what some OFCs have done and failed to do in this area, and expounds on why intangibles are set to shape the future of offshore. 10.00 - 10.45 Structures and Strategies for the Emerging Market for Offshore Services in India Brian Rowbotham, Rowbotham & Company, California, USA At a time of global economic distress, this "BRICK" country is poised for increasing growth and wealth creation, and increasing inbound and outbound investment flows. Based in California, Brian has extensive experience servicing clients with tax, business, investment and wealth planning matters connected with India. Drawing on his experience, Brian will identify the Indian opportunities and discuss structures and strategies for exploiting them. 10.45 - 11.15 Morning Coffee 11.15 - 12.00 High-Net-Worth Family Planning - the rich have problems (matrimonial, spend-thrift children, creditors, 2nd, 3rd and 4th spouses, etc.) - learn real world tested, litigated, and successfully sustained Offshore Planning alternatives when the family money is on the line Richard J. Alan Cahan, Becker & Poliakoff, Florida, USA High-net-worth marriages bring a unique set of issues and concerns, chief among them how to plan for the contingency of a divorce. Richard draws on his real world experiences counselling the well-to-do in fast paced, international Miami in order to present this fascinating topic. 12.00 - 12.45 Foreign Investment in U.S. Real Estate: Opportunities, Pitfalls and Structures Shawn P. Wolf, Packman Neuwahl & Rosenberg, Florida, USA U.S. real estate prices are at an all time low. At the same time, many investment advisors, concerned that profligate spending by the federal government will stoke inflation and erode the value of the dollar, are counselling their clients to store wealth in so called "hard assets" - chief among them gold and real estate. The stage seems set for an increase in inbound investment into U.S. real estate. Shawn explains the prevailing regime for taxing foreign investment in U.S. real estate, and reviews compliant structures and strategies for minimising the tax consequences and maximising gain. 12.45 - 13.30 Now the Dust Has Settled: Understanding the Limits of Bank Secrecy Post-UBS, LGT et al. Howard S. Fisher, Law Offices of Howard S. Fisher, California, USA Howard reviews the UBS and LGT cases, and considers, among other things: Is there anything left of bank secrecy? Where, when and how? What do these cases tell us about the posture the offshore finance centres should adopt towards information exchange agreements and treaties? 13.30 - 14.30 Luncheon 14.30 - 15.15 Pre-Immigration Tax Planning Shawn P. Wolf, Packman Neuwahl & Rosenberg, Florida, USA The U.S. tax net is wide and sticky. Pre-immigration tax planning is important for those clients permanently relocating to the U.S. But, it is also important for those with vacation homes in the U.S., those who travel to the U.S. and stay there for significant periods for work or pleasure. What, if anything, can be done to protect the wealth of high-net-worth clients from U.S. taxation? Shawn has extensive experience advising high-net-worth families immigrating to the U.S. or who have other potential U.S. tax nexus. He examines the rules that make pre-immigration planning possible but challenging, and surveys alternative structures. 15.15 - 16.00 Structures and Strategies for the Emerging Market for Offshore Services in China Brian Rowbotham, Rowbotham & Company, California, USA At a time of global economic distress, this is another "BRICK" country that seems poised for substantial growth and wealth creation, and increasing inbound and outbound investment flows. Brian has extensive experience servicing clients with tax, business, investment and wealth planning matters connected with China. Drawing on his experience, Brian will identify the Chinese opportunities and discuss structures and strategies for exploiting them. 16.00 - 16.30 Afternoon Tea 16.30 - 17.15 Class Action Lawsuits Against the Offshore Finance Centres?: Important Lessons from the Stanford and Madoff Litigation F. Ronald Jenkins Jr., Meridian 361 International Law Group PLLC, London, UK "And now for something completely different." Imagine a class action brought by 50 cash strapped state governments against an offshore finance centre, in order to recoup tax revenues lost to offshore structures registered there. Impossible? Imagine the angry victims of an offshore fraud suing an offshore finance centre to recoup their investment losses. Unlikely? Wouldn't these class action lawsuits bankrupt the OFCs - sovereign governments, after all - immune from lawsuits? Ron draws on his experience suing foreign sovereigns and examines the Stanford and Madoff cases in order to illuminate the growing potential for lawsuits against the offshore finance centres themselves. 17.15 - 17.45   Panel Discussion - Offshore Financial Centres: The State and Future of the Industry Led by F. Ronald Jenkins Jr., Meridian 361 International Law Group PLLC, London, UK A lively debate to round off and close the conference. Select speakers will be allowed five minutes to present their opinion and point of view then, Chairman F. Ronald Jenkins Jr. will present them with questions that have been drawn from the audience and developed by Offshore Investment in a managed format. At closing, the floor is opened for direct questions from the audience. 17.45   Chairman's Closing Remarks