Hong Kong > Tax and trusts
Index of tables
Tax and trusts
Leading Individuals
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- Daniel Chan DLA Piper
- Kenneth Leung Clifford Chance
- Michael Olesnicky Baker & McKenzie
Clients ‘would not hesitate to recommend’ Baker & McKenzie for tax and trusts work, where, for some, the five-partner team is ‘head and shoulders above the rest of the Hong Kong pack’. The firm is recognised for its expertise in both corporate tax and personal tax and trusts. Led by the ‘solid’ Michael Olesnicky, the department has a ‘good understanding of the industry and gets to know its clients’ businesses’. For some, Olesnicky is the ‘anchor point’ for the firm’s tax practice, however Steven Sieker also reaps praise as being ‘responsive, easy to work with and willing to discuss practical, business-friendly solutions’. Sieker handles regional tax advisory work, tax and estate planning and contentious matters, and is currently providing ongoing advice to Fortune REIT on tax and trust aspects of the transfer of its listing from Singapore to Hong Kong; this HK$11.5bn deal is the first dual REIT listing in Asia.
In 2011, DLA Piper expanded its Greater China tax practice, when five associates and one of counsel joined, but most notably it welcomed former head of tax at King & Wood Stephen Nelson to the team. With over 25 years’ experience in PRC corporate, commercial and tax matters, Nelson has niche expertise in tax issues relating to foreign investment in the PRC and sector knowledge in the TMT and financial services industries. While the firm has a strong corporate tax practice, it also offers specialised services in areas such as private banking, personal tax planning, transfer pricing and executive compensation. Patrice Marceau and Asia head of tax Daniel Chan are also recommended.
Clifford Chance’s ‘exceptionally able’ two-partner department is adept at handling both contentious and non-contentious tax mandates, both in Hong Kong and throughout the region. While Brian Gilchrist and Elaine Chen are known for their expertise in tax litigation and contentious probate, consultant Kenneth Leung leads the non-contentious tax, pensions and employment practice in Hong Kong. Leung is ‘very knowledgeable and prompt’, and handles a wide range of tax issues, relating to business sales, acquisitions and restructurings, direct investment, advance ruling and stamp duty clearance.
At Deacons, consultant James Bertram leads the tax and trusts department. As a specialist in this area of law, Bertram has represented some of Hong Kong’s wealthiest families, assisting them with family trusts and estate matters and succession plans. For corporate tax, Sally Ip is recommended for both contentious and non-contentious issues. The team recently advised a US international hotel group on the tax aspects surrounding the reorganisation of its Hong Kong companies.
Withers handles a range of private client tax work, both offshore and onshore, and now has a family law team headed by Sharon Ser and office managing partner Marcus Dearle (‘the first of his kind in that he is able to blend family law expertise with wealth planning’). Ser and her family department from Hampton, Winter and Glynn joined the firm in 2010, and handle the whole spectrum of family matters, including complex divorces involving financial issues. Recent work includes acting for a Hong Kong family, listed in Forbes’ World’s billionaires list 2011, on the creation of a number of trusts to act as family succession vehicles. Recent changes at the firm include the departure of Todd Beutler and the relocation of Katie Graves, Jay Krause and of counsel Patrick Hamlin to the Hong Kong office.