Offshore trustees: How to add value to your South African client at little cost to your company
International wealth diversification South African resident clients today can benefit from international wealth diversification through specific exchange control concessions, meaning such individuals can apply for an annual allowance of ZAR10m per calendar year, a far greater and more flexible scenario than was the case some years back. With the right advice and support from their
Read MoreMust Read: How the 2021 tax law amendment will affect South African emigration and retirement funds.
South Africa 2021 tax law changes South Africa’s 2021 tax law changes mean access to South African retirement funds will become a factor of tax residency instead of exchange control residency. TAKEAWAY: A client planning to emigrate from South Africa should cash-out their current pension fund if they want to access the funds within three
Read MoreThe Big Debate: Are trusts required by SA law to pay interest on any outstanding loans to SA lenders?
We have seen much confusion on this important topic and here we hope to provide some simple answers to help you navigate this question. TAKEAWAY: A popular way of financing a trust from South Africa is to sell assets to the trust and leave the consideration outstanding as a loan, or to loan funds to the
Read MoreHatstone’s Jersey team advises on a Sharia’a compliant refinancing for BLME
BLME Advisors Hatstone Lawyers in Jersey has advised the Bank of London and The Middle East plc (BLME) on the Jersey aspects of its successful Sharia’a compliant refinance of a £6 million London property for a high net-worth private client, alongside Druces’ London property and corporate teams, led by Partner, Gemma Wright, and Senior Associate, Claire Rigby.
Read MoreHatstone appoints Robert Rakison as Senior International Counsel
Hatstone is delighted to announce that it has appointed Robert Rakison as Senior International Counsel, with effect from 1 August 2020. Primary affiliation Robert’s primary affiliation will be our Jersey office, though he will continue to work from London. Senior Group Partner, Simon Vivian, and Robert Rakison have known each other for many years –
Read MorePanama introduces a Beneficial Owner Register and extends the Tax Amnesty
Law No. 129, which deals with the establishment and regulation of a beneficial owner register, was approved in Panama on 17 March 2020 and became law on 20 March 2020. In summary, the new Law requires a resident agent to file certain information in relation to the ultimate beneficial owner (the “UBO”) at the Superintendence
Read MorePanama to introduce a beneficial owner register
Bill No. 169 (the “Bill”), which deals with the establishment and regulation of a beneficial owner register, has been approved by the Panamanian National Assembly. The Bill will become law once executed by the Panamanian President and published in the Panamanian Official Gazette. The Bill requires resident agents to file relevant information, such as details
Read MoreHatstone’s Jersey Office appoints new Group Partner
Bella Ward appointed Group Partner Hatstone is pleased to announce the appointment to Group Partner of Bella Ward, who will be based in the Hatstone’s Jersey office. Bella specialises in banking, finance, corporate, commercial and real estate transactions. She has a significant practice leading cross-border corporate, banking and capital markets transactions. Prior to joining Hatstone, Bella worked in the banking and finance
Read MorePromotions at Hatstone’s South Africa Office
Hatstone has in the last six months promoted four of its lawyers in South Africa. Dr Erin Nel, who is an international trust and compliance specialist, was promoted to Senior Associate. Her role entails dealing with regulatory and trust-related matters, drafting corporate agreements and documents, wealth management, as well as supporting the Hatstone Group with local and international
Read MorePromotions at Hatstone’s Jersey Office
Hatstone’s Jersey office is delighted to announce the promotion of one of its lawyers. Private client specialist Michael Shenkin has been promoted to Of Counsel. Michael advises trustees, beneficiaries, family offices and private individuals on the establishment, maintenance, administration and governance of their structures and in relation to personal matters, both contentious and non-contentious. First-person appointed as Counsel Simon
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