Settlor’s reserved powers and trustee’s limited liability – are private foundations the best of all worlds? |
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| Paolo Panico, Private Trustees SA, Luxembourg and Geneva, Switzerland | |
| As private foundation legislation is promulgated in common law and mixed jurisdictions, Paolo Panico ponders two captivating features which differentiate this fashionable investment structure from the trust: the founder’s ability to retain powers and the unlimited personal liability of the foundation councillors.
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FBAR Reporting - Uncertainties continue to befuddle US taxpayers |
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| Brian Rowbotham, Rowbotham & Company LLP, San Francisco, USA | |
| Six months on from the expiry of the IRS voluntary disclosure programme, concerns over the process remain. Brian Rowbotham sheds some light on the most vexing issues and contemplates whether participation in the programme was worthwhile. He offers his thoughts on tangible options now that the programme has lapsed.
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Fraud on a Power (Again) |
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| W M Patterson TEP, Partner, Patterson Hopkins, Auckland, New Zealand | |
| William Patterson reveals recent decisions of the Court of Appeal and the Supreme Court of New Zealand which leave some doubt as to where the boundary lies between an invalid exercise of power and a fraud on a power.
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Keeping Private Foundations in Perspective |
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| John Goldsworth, Director, The Foundation Society, UK | |
| John Goldsworth illustrates the versatility and adaptability of the private foundation but warns of the need for careful consideration and individual drafting to suit the needs of each client.
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Coming to America |
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| Gideon Rothschild and Ira Zlotnick, Moses and Singer LLP, New York, USA | |
| Gideon Rothschild and Ira Zlotnick embrace the advantages of the hybrid trust and demonstrate why this creative structure has forced many to abandon traditional thinking and consider settling trusts in the US.
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Asset Protection Techniques |
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| Joseph Field, Senior Regional Partner – Asia, Withers Worldwide, Hong Kong | |
| Joe Field contemplates how asset protection trusts, as envisioned in the 1980s, have effectively disappeared and reveals how the innovative techniques pioneered during this period can be incorporated into traditional trust planning.
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OECD White Lists Malaysia based on Labuan’s new laws |
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| Peter Searle, Barrister and Managing Director, EC Trustco, Labuan, Malaysia | |
| Peter Searle examines OECD information exchange developments, with particular emphasis on Malaysia's amended laws, and offers a comparison with other jurisdictions.
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Labuan – Ground Breaking New Laws |
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| Labuan IBFC, Labuan, Malaysia | |
| A comprehensive overview of the groundbreaking omnibus laws recently introduced in Labuan which were carefully designed to maximise Labuan’s already competitive edge in international financial markets.
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“The times they are a-changin” A Canadian Primer on Protectors Letters of Wishes and File Memoranda |
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| Richard I R Winter QC, Toronto, Canada and Lucinda Main, Beard Winter LLP, Toronto, Canada | |
| The use of protectors, letters of wishes and trustee file memoranda commands careful consideration when planning, drafting and implementing offshore trusts in this era of greater transparency. Richard Winter and Lucinda Main detail the potential pitfalls and recommend practical safeguards.
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The Bahamas: A Globally Competitive International Business Centre |
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| Wendy Warren, CEO and Executive Director, Bahamas Financial Services Board, Bahamas | |
| Wendy Warren evaluates the Bahamas’ vision to be a globally competitive international business centre for wealth management and capital investment in the Americas and emerging markets, and explores residency possibilities.
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Belizean Shores – International Paradise |
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| Marcia Rodriguez & Krystle Leslie, Atlantic International Bank Ltd, Belize | |
| An appraisal of offshore banking in Belize demonstrates the unique features of the jurisdiction, and highlights past and present developments in Belize illustrating how offshore banking contributes to the economic growth of the country, and forecasting the direction in which the industry is heading.
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Central America’s Anchor |
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| Derek Sambrook, FIB(SA), TEP, Managing Director, Trust Services, S.A., Panama | |
| As Costa Rica welcomes the inauguration of new president, Laura Chinchilla, Derek Sambrook reflects upon the country’s long standing democratic record and ponders the challenges facing the new president.
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A new political climate in the UK gives a 'green' light to renewable energy |
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| Paul Kempe, BA (Hons) Law, City & Provincial Properties plc, London, UK | |
| Paul Kempe reveals entry opportunities into the waste to energy market in the light of an increased focus on advancing the renewable energy infrastructure in the UK and Europe.
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Three Years is a long time in International Finance – will Dubai ever be the same again? |
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| J. Richard Duke, Duke Law Firm, P.C, Alabama, USA | |
| In the light of recent developments in Dubai, Richard Duke takes a trip down memory lane. Reminiscing about his first visit to the region in 2007, he puts into perspective just how far this ambitious emirate has come.
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