21 results found

China has introduced a comprehensive Individual Income Tax regime for offshore trusts, imposing a 20% flat tax on settlors and beneficiaries with Chinese connections. With a 90-day transition window now in effect, affected individuals must urgently assess their disclosure obligations and consider whether existing trust structures remain viable under the new rules.

Richard examines how China's marital property regime interacts with offshore trust structures, exploring the position of spouses when marital property is settled into offshore trusts, the role of spousal consent, and circumstances under which transfers may be challenged. As Chinese private wealth becomes increasingly international, understanding marital property rights in offshore trust structures is essential for trustees and advisers navigating these complex cross-border arrangements.