Leading experts from Malta, Switzerland, Monaco, Jersey and Italy use a case study to talk about the jurisdictional

Case study: Family of 4 (UK res non dom), dad = settlor of an offshore trust worth $50m, Loans from Trust to Settlor, underlying operating company very successful and throwing off significant dividends. How would this family be treated in the UK if they stayed and then in all of the other jurisdictions noted….

• Where are we now with trusts and HMRC? 
• What is the incentive for Offshore Trustees to correct past errors in the light of the severe penalties for an unprompted disclosure? 
• Where are HMRC and other authorities going with regard to wealth structuring in light of the trust register and beneficial ownership registers?

(Things you didn’t think about when you started your career)

GDPR, has it changed what we do? How are offshore Trustees Affected? What are the pitfalls none of us has thought about? How to Beneficial Ownership Registers jive with Human Rights laws? Using TIEAs and Data Protection to get information via the back door. Cybercrime – in making all of this information more readily available are we simply handing a gift to the cybercriminal?

• Cayman v BVI v Bahamas – recent news and views from the Caribbean Islands – what they wish offshore trustees using their jurisdictions as proper law for trusts were more alive to/aware of?

Continuing the theme of yesterday afternoon, various industry experts look at different asset classes and point out the common issues and pitfalls from their own unique perspectives which all trustees should be alive to:

What are the pitfalls of holding these kinds of assets in a trust? Traps for the unwary trustee…

The pitfalls and problems in holding Operating businesses as trust assets.