Introduction The absolute discretion of trustees is often emphasised when discussing competing interests of beneficiaries. This is particularly so, as, although the court has jurisdiction under Jersey law to intervene in the exercise of the trustee’s discretion, it will not do so lightly. The trustee of a Jersey trust was recently faced with the decisionRead More
As the world navigates the challenges of COVID-19, demand for technologies such as electronic e-signatures is increasing significantly. As clients, businesses and public organisations implement home-working protocols in response to working from home guidance, flexibility in remote contract signings is becoming critical. Regardless of current circumstances, electronic signature systems are widely used across the worldRead More
If you want to have your cake and eat it, take a slice or two, not the whole cake. There has been lot of noise generated by the Supreme Court decision in Webb v Webb* regarding the settlor reserved powers aspect of the case, little of which is worth the airtime. Many practitioners have been warning forRead More
Hatstone’s Calum McKenzie and Philipp Neumann explain the innovation and dynamics of the British Virgin Islands (BVI) Approved Manager licence, Incubator Funds and Private Investment Funds to Simon Gray from BVI Finance. The BVI’s approach to economic substance requirements on companies and limited partnerships and the adaptability of the Hatstone teams to continue to work efficiently during the challenges of COVID-19Read More
Hatstone Lawyers has been named by eprivateclient as one of the world’s top private client firms in its 2020 Top Offshore Law Firm rankings. The rankings are based on a survey of over fifty leading private client firms. They recognise the success of Hatstone’s fast-growing team of partners, lawyers and other professionals in the BVI, Jersey, London, Panama and South Africa, in providing outstanding legal,Read More
South African resident clients today can internationalise their wealth 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 trustee, or independent advisor, theyRead More
Must Read: How the 2021 tax law amendment will affect South African emigration and retirement funds.
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 years of leaving the country; if your client has been living abroad for more than threeRead More
The 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 theRead More
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. Bella Ward,Read More
Hatstone is delighted to announce that it has appointed Robert Rakison as Senior International Counsel, with effect from 1 August 2020. 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 – Simon becameRead More