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Our feature for Issue 197 is Fraud and Criminal Activity in which Howard and Alexander Fisher consider the implications of offshore advisors not abiding by the laws of their client's country. They contemplate the extent to which the concept of “universal jurisdiction” has been extended to tax evasion and reflect upon how foreign governments are becoming more inclined to take action against those who advise and assist a client’s violation of the law. Ron Jenkins examines the approach of the US courts to foreign state bank secrecy rules in the context of private civil lawsuits brought by terror victims against financial institutions alleged to have laundered money for terrorist organisations. He considers the extent to which developments in this area could shape the contours of bank secrecy jurisprudence. Jurisdictions in focus: UNITED ARAB EMIRATES - Jas Sekhon announces the United Arab Emirate’s comprehensive network of double tax treaties. He contemplates how the combination of a free zone entity and an international company provides a confidential flexible company with a physical presence that becomes a powerful key unlocking the benefits of the UAE bilateral treaty network. DUBAI - Andrew De La Rosa elaborates on key themes that are relevant in the present context as indicating why the development of Gulf financial centres, and Dubai in particular, will continue. Walid Chiniara and Ciara Howie explore various elements that influence family wealth within the Gulf region and contemplate the potential impact recent regulatory reforms could have on this important sector of the Gulf economy. SINGAPORE - Graeme Briggs analyses significant structures available in Singapore for international private wealth planning. He examines Singapore Foreign Trusts, Singapore Private Trust Companies and Family-owned Investment holding companies. Furthermore, he elaborates on the opportunities Singapore has to offer as an international trust administration centre. HONG KONG – Howard Bilton guides us through the workings of the tax and legal system in Hong Kong. He reflects upon the interesting possibilities this special administrative region can offer investors and reveals some unique advantages of setting up a Hong Kong company. Jack Flader and Catherine Odgers provide a detailed overview of the significant measures Hong Kong has undertaken to stem the flow of the increasingly sophisticated financial crimes that are being perpetrated. Regular features include World Report, Comment, Dubai Digest, and Latin Letter. . . |
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