Palladium Newsletter - May 2011

Dear Clients,

Welcome to our May newsletter. We hope that your businesses are likewise blooming in what has been a particularly dry and warm spring in London... This month our focus is on the benefits of English law trusts for offshore structuring and Palladium’s premier bank account opening service. An English trust can be advantageous for clients in circumstances where no trust property and neither the trustees nor the beneficiaries of the trust are based in the UK. We can be your guide and counsel in the set up, drafting and administration of English law trusts.

Our New Zealand trust company may act as trustees for these trusts which enjoy tax efficiency while being underpinned by the world's original and most sophisticated trust law.

A trust in the above scenario is not subject to UK tax, and allows you to protect your assets, protect your income for your family, or avoid inheritance tax.

Often, one of the most challenging aspects of offshore administration can be opening a bank account in an appropriate jurisdiction and with optimal features.

Palladium can facilitate bank account introductions for funds, trusts, individuals and offshore companies with private and commercial banks in over 17 jurisdictions, including Hong Kong, Cyprus, Switzerland, Singapore, Liechtenstein and the UK.

Bank accounts can be opened within two days to two weeks of receiving original documentation. Our banking solutions are tailored to the clients specific needs, from day to day business trading bank accounts to investment accounts with private banks.

Our established relationships with banks of pedigree give us the ability to fast-track your account opening in urgent situations such that in exceptional circumstances we offer same day bank accounts for deal facilitation. This in particular is a rare and sought after service.

We hope you enjoy the articles below and find them an interesting resource.

Please visit us at www.palladiumtrustservices.net or contact me directly at stephen@palladiumtrustservices.net if you would like more information on what Palladium can do for you.

Until next month,

Stephen

Ghadafi’s millions found stashed in Switzerland – and confiscated now the world has turned on him:
http://www.dw-world.de/dw/article/0,,15045505,00.html

What’s the point of an offshore account?:
http://www.shelteroffshore.com/index.php/offshore/more/differences-international-non-resident-offshore-bank-accounts-11023

Britain’s unfair and tacit acceptance of cash illicitly stashed in Switzerland or a sensible move?:
http://globalinsolvency.com/headlines/britons-be-taxed-secret-billions

Costa Rican president imprisoned due to French company’s bribes:
http://www.kyc360.com/hot_topic/show/203

Thailand favoured by Turkey as world’s favoured emerging market:
http://www.citywire.co.uk/global/thailand-replaces-turkey-as-most-backed-emerging-market/a488807?ref=citywire-global-latest-news-list

Canada: estimated loss of taxes through use of tax havens 10 times less home-based evasion and under-reporting:
http://www.torontosun.com/2011/05/03/rising-investment-sparks-offshore-tax-debate

Chance to settle EBT enquiries – or perhaps a tricky path to traverse?:
http://taxation.icas.org.uk/Home/Home2/tabid/61/entryid/224/Default.aspx

US unilaterally expropriates online gambling sites from Antigua, Ireland and Isle of Man:
http://www.isleofman.com/News/business/article.aspx?article=35416

Bahamas to grant permanent residency within 21 days – if you buy property worth $1.5 million or above:
http://www.bfsb-bahamas.com/news.php?cmd=view&id=3032

Tax, rain and crime – why 1/3 of HNWI British residents want to flee:
http://www.telegraph.co.uk/finance/personalfinance/consumertips/tax/8468423/High-taxes-and-crime-blamed-for-Britons-leaving-the-country.html

Pakistan tax dodgers a threat to global stability?:
http://www.google.com/hostednews/afp/article/ALeqM5g2fCzoMmGuxlNEqPhubsj7InSZaA?docId=CNG.bc3e0b5dad668701d28a755ff7102e0c.421

Chinese wealthy emigrating once they can?:
http://www.independent.co.uk/money/spend-save/the-10-big-investment-mistakes-2283748.html

Top ten investment tips:
http://shanghaiist.com/2011/04/28/chinas_rich_people_so_long_and_than.php