Hong Kong, 19 May 2017: Boase Cohen & Collins Partners Fiona Chan and Lisa Wong represented the firm at a landmark seminar focusing on family trust management in China.
Legal practitioners and industry professionals from both Hong Kong and the mainland attended the forum, held in Shenzhen this week, to explore the increasing importance of inheritance and succession planning in China.
“The concept of family trust is relatively new to China. People are becoming more concerned about how to pass their wealth to the next generation and so there is a growing need for sound and practical advice on these matters,” commented Ms Chan, whose core practice areas include wills, probate and estate administration.
“This topic is of particular relevance to Hong Kong legal professionals due to mainland restrictions on foreign exchange. As a result, more and more wealthy families are looking to Hong Kong as a window for setting up a trust in an overseas jurisdiction with tax benefits.”
The seminar, entitled the “Practical, Legal, Financial and Taxation Forum on Mainland and Hong Kong Family Trust Law”, attracted more than 30 delegates.