Member Article

Troy Schooneman, partner and head of Kudun and Partners’ International Practice was invited to be a panelist at the World Services Group(WSG)’s Asia Pacific Region Discussion on Offshore Law Regime, a collaborative online seminar organized by the World Services Group (WSG) together with Kudun and Partners, an award-winning independent law firm in Thailand; Carey Olsen, a leading offshore law firm advising on Bermuda, British Virgin Islands, Cayman Islands, Guernsey and Jersey law, and Deacons; Hong Kong’s largest independent law firm with three representative offices in Mainland China. The WSG is the leading global network of elite and top-ranked global practice firms and it organizes regular discussions for its member firms located in more than 115 countries, representing over 150 jurisdictions globally.

The online seminar addresses different dimensions of offshore jurisdictions and the law regime in these countries. Profound insights were generated as a result, and the following are the important takeaways from the webinar:

• • • The offshore jurisdictions, including the British Virgin Islands, Cayman Islands, and Bermuda benefit from a stable political and legal system that is based on English law. They are tax neutral jurisdictions with regulatory regimes in place. Such reasons unavoidably reflect the attractiveness of offshore jurisdictions.

• • • In cases where onshore companies consider using offshore structures for investments, significant factors should be taken into account: (i) whether there are potential tax benefits under bilateral tax treaties, (ii) whether there are any foreign investment restrictions, and (iii) whether there are any privacy considerations.

• • • To seek information on offshore entities for litigation purpose, some information is publicly available upon conducting the relevant searches but others can be obtained only by making the appropriate application to the Court.
    • Different methods have been used to enforce offshore judgment. Often times, offshore liquidation proceedings are commonly recognized in onshore jurisdictions.

If you need to know more about how you can benefit from offshore jurisdictions, contact Troy Schooneman for more information.

About WSG

Kudun & Partners is an exclusive member of World Services Group (WSG) representing Thailand, the leading global network comprised of elite and top-ranked global practice firms.

WSG is the globally recognized resource for professionals and their clients to receive the highest quality, value and service from legal, investment banking and accounting services. WSG provides members the ability to create new business opportunities and relationships to better serve their clients. There are more than 120 prominent member firms representing worldwide clients. Members operate in more than 115 countries and throughout the United States and Canada, reaching representation in over 150 jurisdictions globally. The network has become one of the most prominent global networks of leading independent firms offering access to over 23,000 individuals and a wealth of knowledge at your fingertips.

 

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