LY Tayseng

Well-connected and with international experience, Mr. LY’s practice focuses on banking and finance, tax advisory and commercial litigation.

He has been appointed as panel lawyer for banks and MFIs in Cambodia and leads HBS’s team in numerous major financing projects, equity investments, IPOs and M&As, involving foreign banks and other types of investors.

Mr. LY obtained his Master of Laws from Nagoya University, Japan, a Bachelor of Laws from the Royal University of Law and Economics, Cambodia, and Bachelor of Laws from the University Lumière Lyon 2, France.

He acted as Legal and Political Researcher and Analyst at the General Secretariat of the Supreme National Economic Council (SNEC) under the auspices of the Prime Minister’s Cabinet from 2005 to 2012. Mr. LY served as the Secretary General of the Bar Association of the Kingdom of Cambodia from 2004-2008, and has been a Labor Arbitrator for the Arbitration Council of the Ministry of Labor and Vocational Training since 2003. He is a lecturer at the Royal School of Administration where he teaches business law, labor law and dispute resolution to senior government officers, and at the Royal University of Law and Economics since 2003. He was appointed as a Notary Public and as the Director of HBS Notary Public in 2008.

Mr. LY has been accredited by the Securities and Exchanges Commission of Cambodia (SECC) to advise on securities laws and regulations. In addition, he has also been recognized by Ministry of Commerce as Legal Mark Agent of Cambodia.

Mr. LY is fluent in English, French and Khmer, and has conversational Japanese.

Education:

– Executive LL.M, The King’s College London, UK
– Leadership in Law Firm, Harvard Law School, USA
– Master of Laws, Nagoya University, Japan
– Bachelor of Laws, University Lumière Lyon 2, France
– Bachelor of Laws, Royal University of Law and Economics, Cambodia

Membership(s):

– Director of HBS Notary Public
– Bar Association of Cambodia
– Legal, Political Researcher and Analyst, General Secretariat of the Supreme National Economic Council
– Labor Arbitrator for the Arbitration Council, Ministry of Labor and Vocational Training
– Lecturer, Royal School of Administration

Firm Overview:

Established in 2005, HBS Law is a highly regarded multi-service law firm. We work with a broad client base which includes major international and Asian companies. Our team has solid expertise to assist foreign and local clients in a wide range of sectors. We also assist educational institutions, international organizations, Government agencies and senior Government leaders.

A combination of teamwork, specialist skills and cooperative relationships with Government means that we are at the forefront of Cambodia’s rapid legal development. HBS Law is frequently called upon to participate in precedent-setting deals and advice on new legislation and regulations.

By building our business in response to clients’ needs, HBS Law has become a significant and credible practice in South East Asia. Our philosophy of developing relations of trust and honesty with our clients is profoundly important. Consequently, our clients entrust us with their most complex legal matters.

HBS Law is particularly proud of its role as a corporate citizen. We provide a pro bono service for people who cannot afford legal services, focusing on aid to children, victims of domestic violence and other vulnerable members of our community. We provide a learning forum for law graduates, junior lawyers, judicial officers and law enforcement officers throughout the country.

We are thankful to all our colleagues who are striving to maintain HBS Law as a leading law firm and all our valued clients who have trusted us as their business partners. We look forward to welcoming new clients to benefit from our experience and honest, balanced services.

 

Dominique Pepin

Dominique Pepin is an attorney-at-law with a Master in taxation. She was formerly a Tax Partner with Ernst & Young in Barbados and founded Tailored’s group in 2015.

Dominique served as a director on the Board of the Barbados International Business Association (“BIBA”) until recently and was Chair of BIBA’s Tax Committee for several years. She was a member of the Task Force which advised Government on the new tax regime implemented in January 2019. Dominique still represents BIBA on the Barbados Treaty Negotiating Team.

Dominique has gained wide and in-depth knowledge in Barbados and Caribbean tax matters generally. Her experience includes advising on cross-border transactions, international, regional and local corporate structuring, assistance with audits conducted by the tax authorities, relocation of High Net Worth Individuals, etc.

Dominique has authored a number of articles on various tax topics. Her extensive experience has allowed her to be a speaker at many conferences in Barbados, Latin America and Canada.

Firm Description

Tailored Tax Solutions is a boutique firm specialised in tax and immigration matters. Our team is composed of experienced legal and accounting professionals, who can assist you with all tax aspects in relation to your activities in the Caribbean. Specifically, our services include, but are not limited to:

a) Tax advisory services, including, corporate and personal tax, withholding tax, value added tax, property transfer tax and stamp duty;
b) Assistance with Immigration matters, including applications for Special Entry Permits and Work Permits;
c) Preparation of corporate and personal tax returns as well as Value Added tax returns and assistance with other compliance matters;
d) Assistance with tax audits, objections and appeals; and
e) Generally, provide tax advice in respect of Barbados tax law and practice.

We also render tax services in regard to other Caribbean countries such as, but not limited to, Antigua, Dominica, Grenada, St. Kitts, St. Lucia, and St. Vincent and the Grenadines.

As a member of Prime Global, we have access to resources in over 80 countries, which allow us to provide seamless global solutions.

 

Farid Nabili

Managing Partner at Caspian Legal Center. He possesses LL.B degree from Baku State University and LL.M degree from Central European University. Mr. Nabili has more than 12 years of experience in commercial and business law. He has worked as in-house legal counsel and legal director for a local holding group, legal adviser for the Central Bank of Azerbaijan, head of tax law reforms unit at the Ministry of Taxes and a local law firm. Mr.Nabili is well experienced in international transactions, company law, real estate and construction, financial and tax law.

Firm Description

Caspian Legal Center is a Baku-based full-service Azerbaijani law and tax consultancy firm. We mainly specialize in commercial and company law matters, as well as wide-range legal support and consulting to businesses regarding the establishment and operation of commercial entities in Azerbaijan.

As a one-stop-shop consulting company, we provide corporate law services and business-set ups, immigration consultancy, employment law services, intellectual property services, law and tax services related to oil-gas industry, contract drafting and negotiations, construction law support, tax and accounting services in Azerbaijan. , dispute resolution and litigation services (including debt recovery), consultancy legal services in real estate and purchase of property in Azerbaijan. 

We also provide legal advice and representation services to foreign individuals regarding family relations, employment, immigration, inheritance, recognition and enforcement of foreign judicial judgments in the Republic of Azerbaijan.

Apart from specializations, we provide full and general legal services in Azerbaijan, law consultancy, tax consultancy and advisory, immigration services and accounting services for businesses.

The majority of our clients are multinational companies, operating in Azerbaijan or having business transactions with local companies, including FORTUNE Global 500 companies. We operate in diverse industries, including oil and gas, energy and natural resources, renewable energy, ICT, construction, hospitality and HORECA, industrial manufacturing, machinery, agriculture, food industry, education industry, services industry, import and export, wholesale and retail industry, as well as consult to public and government entities. Please contact us for updated company and clients profile documents.

Experience

CLC law firm was established by lawyers and tax consultants with extended experience in practical business law in Azerbaijan. Our team has a western legal education and are skilled in international standards and international law aspects of business operations. We are fluent in English, Russian, Azerbaijani and Turkish languages.

Strong knowledge of local legislation, case-law and court practice, and approach of government institutions, involvement in the business-friendly legislative reform initiative and representing businesses before state authorities have been a key aspect of our experience. Our team members have previously worked and provided services for several local holding groups, plants, import/export businesses, construction companies, banks (including the Central Bank of the Republic of Azerbaijan), ministries (Ministry of Economy, Ministry of Taxes, Ministry of Foreign Affairs) and law firms.

CLC advisers and attorneys are well experienced in contract negotiation (representing and accompanying client), drafting, analysis of multi-million contracts, including FIDIC contracts, and dispute resolution and debt recovery cases.

CLC intensively follows legal reforms and business incentives and advises clients on relevant opportunities, including tax and duty exemptions, free zones and other business promotional incentives.

Our Legal Practice has been ranked by IFLR 1000 as Recommended Law firm for 2020 and as one of the leading law firms in Azerbaijan by Legal 500, alongside with other international awards and listings of western diplomatic bodies in Baku.

CLC Tax Practice is ranked by World Tax 2020 as the only reviewed consultancy company from Azerbaijan. Moreover, our Managing Partner, Mr Farid Nabili has been appointed by the International Bar Association as Tax Reporter from Azerbaijan. We constantly update our clients about tax reforms and amendments ongoing in the country, as well as, proposing tax amendments in order to comply with the best international practices for improving the business environment in Azerbaijan.

 

Eugene Martis

Eugene H.J. Martis (Curaçao, 1960) obtained his civil law and tax law degree at the University of Leiden. He also completed a vocational training for company lawyers of the Association of Company Lawyers in the Netherlands (Nederlands Genootschap voor Bedrijfsjuristen). After having worked several years in the Netherlands as a legal/tax consultant and afterwards as general counsel with an insurance company, he joined Brown Lawyers in 1992 and became a partner in the firm in 1998. He provides legal advice to mostly corporate clients and to semi-governmental companies, insurance companies, financial institutions and to several other local businesses. He is a member of the Aruban Bar Association and the Inter American Bar Association. He is a board member with several business, community and service organizations.

Firm Description

Brown Lawyers is a top-tier Aruban law firm, having accumulated 25 years of experience and knowledge in Aruban, regional and international legal affairs. We provide the legal services which are most important for today’s businesses and individuals in need of counseling. We provide our local and international clients with a full range of expert legal services, such as advice and counsel on all legal and regulatory matters, advocacy, representation in litigation and collection of claims.

We endeavor to find the most effective solution for our client’s needs and to accomplish the desired goals and results in an efficient but thorough and well thought out manner, while ensuring that the chances of success are constantly evaluated and optimized.

 

Irina Neves Ferreira

Irina Neves Ferreira joined the firm in 2013. She is a lawyer with considerable international experience, especially in the Angolan jurisdiction. In this market she has been involved in operations concerning private investment, insurance law, real estate (including the support to the negotiation of lease contracts for petrol companies), tax law, foreign exchange law and customs. She is also highly experienced in corporate compliance attained throughout her experience as counsel for the EMEA (Europe, Middle East and Africa) region in the international compliance team of a multinational company in the IT area.

In the area of corporate and commercial law she has acted as legal advisor in several mergers, acquisitions and disposals of companies, including the acquisition and disposal of companies with head offices in Portugal and Angola, on behalf of domestic and foreign clients in various sectors, such as the oil sector, construction, information technologies and communications. Irina also provides general legal advice to numerous national and foreign companies in the areas of commercial and corporate law.

EducationLaw Degree (Law Faculty of Nova University of Lisbon, 2003). Postgraduate Studies in Information Society Law (Law Faculty of the University of Lisbon, 2007). Specialization course: “Introduction to the common law” (ISCTE and Law Faculty of Nova University of Lisbon, 2008).

Firm Description

We are a leading company in the Angolan market, as we believe in a truly independent advocacy focused on the client. We have a strong and multidisciplinary team of lawyers and combine solid local knowledge with vast international experience, thus enabling us to provide excellent legal services in the Angolan market.

We work with national and international clients, offering highly relevant assistance in strategic sectors such as banking and insurance, energy and natural resources, real estate, construction, industry and services. The high quality of our work, combined with effective availability, allows us to be fully committed to our clients in the most challenging transactions in their sectors of activity.

We are exclusive members in Angola of the Morais Leitão Legal Circle network, which also includes Portugal, Mozambique, Macau and Hong Kong. Our participation in international networks represents an outstanding advantage to our clients as we are prepared to follow them to different markets and jurisdictions.

 

Mulyono

Mulyono is the founder and managing partner of Mul & Co, one of very few law firms in Indonesia that specialises in tax law.

Mul & Co was founded by experienced practitioners with multi disciplinary backgrounds in tax, law, accounting, and finance. The firm’s services include tax dispute, tax advisory & restructuring, and tax compliance. The team is comprised of dedicated professionals with a deep understanding of taxation law regulations and business culture. The firm is also independent, meaning that it is free from time-consuming conflict check processes.

The Mul & Co team believe that their success depends upon clients’ satisfaction, therefore they always strive to provide clients with the best possible solution to their tax matters. The firm brings a rich understanding of Indonesia’s unique business and legal culture to provide tax services.

Mulyono has accounting, finance, and legal backgrounds. He has triple masters in finance (University of Indonesia), law (University of Padjajaran), and notary (Pelita Harapan University), as well as several professional certifications, including: Certified Public Accountant, Chartered Accountant, Certified Financial Planner, Certified Management Accountant, and Affiliate Wealth Manager. He is also a licensed legal counsel in tax court, licensed advocate and member of the Indonesian Advocate Association (PERADI), and a registered tax consultant. He is currently pursuing a doctorate degree in law.

Before setting up Mul & Co, Mulyono had extensive experience in tax and legal environments. His experience in taxation extends to tax disputes, tax due diligence, tax advisory, tax compliance, as well as company restructuring. Some of the well-respected companies in which he gained his experience include McKinsey & Company, PB Taxand (formerly known as PB & Co.), and Baker McKenzie (Hadiputranto Hadinoto & Partners). He serves a variety of multi-national clients from many industries, such as manufacturing, trading, real estate, mining & oil and gas, telecommunication, hospitality, and services.

His unique combination of technical knowledge in tax, accounting, finance and law, as well as his expertise of the Indonesian taxation system enable him to become a trusted advisor to clients. He is able to deliver holistic and practical taxation services to clients and to accomplish complex and challenging tax-related projects.

Enrique Rodolfo Escobar López

Enrique Escobar has extensive experience in the banking field, in which he has served as manager of legal departments and legal advisor of several local banks, including Banco Agricola, S. A., which is one of the largest banks in the region. He has also advised KPMG regarding taxes, has been a member of several boards of state entities such as ANDA (National Water Supply and Sewerage) and SIGET (Superintendence of Telecommunications and Electricity) as well as private enterprises such as CASALCO (Salvadoran Chamber of the Construction Industry).

Within his practice, he has also advised several corporate and individual clients, with particular emphasis on heritage structures and corporate governance, both locally and internationally.

Education:

Degree in Law, Lawyer and Notary, Nueva San Salvador University; Authorized by the Supreme Court of Justice of El Salvador to exercise as a Lawyer and Notary (1985); Diploma in International Business Legal Aspects, Georgetown University – INCAE (2004). Enrique Escobar has also participated in several conferences, courses and seminars offered by various national and international institutions, obtaining diplomas in the areas of negotiation, arbitration, alternative dispute resolution, management, policies on foreign trade, technology transfer contracts, Export credit insurance, securitization and secularization, banking and finance.

Tax Law Practice:

At LEXINCORP we are committed to providing advice to our clients across the region. That’s why we pay special emphasis to creating corporate structures that are tax-efficient, minimizing the impact that taxation might have on a business.

Our team is highly trained in providing legal advice regarding both local and regional tax issues, which apply to exports, imports, and all sorts of tax-generating activities. In addition, we represent our clients in legal claims that the States of the region initiate against them. Some of our partners have served as judges in tax matters, even as Court of Appeals judges.

Lexincorp:

In LEXINCORP we specialize in providing legal advisory services to large and medium sized corporations operating in Central America.

For more than 40 years we have been learning from the market to reach the final objective of INTEGRATION…

At LEXINCORP, we evolved to integrate processes, services, knowledge, businesses, values and solutions to provide quality results to our customers, in each of the services offered and in all of our offices in the region.

With over 80 lawyers with the expertise to care and respond to the needs of our customers, as well as a network of 6 offices across 5 countries in Central America; LEXINCORP, is an enterprising and innovative Firm that has a robust and unique structure, which has enabled it to reach a leading position among all Firms in Central America, recognized by many of the most successful companies around the world.

Todor Tabakov

Todor Tabakov is one of the founders of Tabakov, Tabakova and Partners. He is a reputable attorney, having extensive experience in various fields of national and International law, including Taxation, Arbitration, Litigation, M&A, Commercial Law, Contracts Law, Competition, Banking and Financing, Real Estates, Oil and Natural Gas (upstream, mainstream and downstream), Energy.

He has comprehensive knowledge and expertise in Taxation and international tax planning. Todor is a well known and probably the most highly regarded international tax planner in Bulgaria. He practically laid down the foundations of the international tax planning business in the country. Todor’s advice has been sought in almost every complex international transaction ever to take place in Bulgaria.

Todor has held numerous positions at the Bulgarian Ministry of Finance and the Ministry of Economy and Planning. He was a consultant at the Organisation for Economic Cooperation and Development – Committee of Tax Affairs. Todor is currently a correspondent of Tax Notes International and Tax Analysts, IBFD. He is a member of IFA, TTN and the American Bar Association. Todor’s contribution to the international community has been recognized by the Madison Who’s Who and Who’s Who in the World biographical records, IBA and ABA biographical records.

Todor’s professional experience record includes: Judge at the City Court of Sofia and District Court of Sofia; Legal Advisor at the Ministry of Finance; Expert on International double taxation at the Ministry of Finance, Head of the International Tax and Investment Treaties Division of the Ministry of Finance, Head of International Financial Relations Department of the Ministry of Finance; Consultant at OECD – Fiscal Affairs Committee; Chief Executive Officer of Preston Finance Ltd.

Todor has over 60 publications in Bulgaria on legal matters, related mainly to tax and investment agreements and relevant legislation, publications in TNI (tax analysts) and Central European (Euromoney) publications.

Todor’s membership of professional bodies includes: Sofia Bar Association; European Association of Trustees, International Fiscal Association, Bulgarian Chamber of Tax Advisers. Todor is a member of the board of directors of the Bulgarian Chamber of Commerce and Industry and of the Board of the Bulgarian Association of Professional football players. He is also a member of the International Biographic Association and correspondent of Tax Notes International.

Todor is fluent in English, French and Russian.

Tom Rosenstock

Mr. Rosenstock has been advising clients in Afghanistan since 2008. Mr. Rosenstock advises clients on transactional matters, early stage dispute resolution, and in conjunction with locally qualified attorneys, on matters of Afghan law including registration, taxation, employment law and other interaction with Afghan government departments. Mr. Rosenstock was an entrepreneur and a business consultant before studying law at New York University in the United States. He has been admitted to practice law in the State of New York and began his career in the New York office of Paul, Weiss, Rifkind, Wharton & Garrison. In addition to his work with RLS, Mr. Rosenstock is a founder and current member of the Board of the American Chamber of Commerce in Afghanistan.

Tax Law Practice:

Rosenstock Legal Services has been working within the tax system since 2008, and has an intimate understanding of the evolving approaches used by the Afghan Government with respect to the enforcement of the Income Tax Law.

The tax environment in Afghanistan has been rapidly evolving over the past several years from one which had minimal impact on the operations of international companies to where we are today, with complex issues surrounding tax exemptions, withholding obligations, and contradictory interpretations of International Tax Agreements.

Because of the nature of the tax environment in Afghanistan, and the uncertainty that has prevailed in the marketplace, most of our clients come to us wanting to discuss both the past and the future. With respect to the past, we can’t change the law, but we can give comfort to our clients about what the real liabilities may be and how to address them. When it comes to the future, we make certain that our clients know exactly what to expect from the current enforcement regime.

RLS’ tax engagements with our clients run the full spectrum from initial advice on the Afghan corporate tax regime, to full-scale implementation where RLS handles our clients ongoing and annual tax filings. RLS also trains administrative personnel to perform ongoing tax filings

Rosenstock Legal Services:

Afghanistan is a challenging place for international companies to do business. The local legal and regulatory system is less transparent than in many other jurisdictions, and local professionals are not always able to provide international companies with the level of comfort they require. RLS has extensive experience helping clients understand and navigate the local corporate registration and tax environment, and advising in connection with local employment law and other interaction with governing bodies.

RLS has advised both buyers and sellers in mergers, acquisitions and other corporate re-organizations. RLS also assists small to medium size international companies doing business in Afghanistan by acting as their outside general counsel, advising in transactional and other matters. RLS combines its international legal skills and local experience, working closely with locally qualified counsel to provide international companies with international caliber legal services applicable to this challenging environment.

RLS’ work for Afghan companies involves assisting them with complex contracts and contract disputes. The Afghan legal community does not have extensive experience in complex contracts, and RLS believes that it’s important to enable Afghan businesses to do business with international private and public organizations on an equal footing.

Stephen A. Malley

Stephen A. Malley has for over 40 years specialized in the areas of international business, tax and finance, captive insurance structures, transnational estate, tax, and asset protection planning, and pre-immigration and expatriation planning. Mr. Malley’s practice includes domestic and foreign licensing of intellectual property, and the formation of captive liability insurance companies.

Clients include:

  • U.S. companies with foreign operations
  • U.S. citizens conducting business and investing overseas
  • Foreign individuals and businesses dealing with U.S. taxation issues

Professional Associations:

  • California State Bar, International Law Section
  • Advisor to Executive Committee
  • State Bar of California
  • LA County Bar – Member: Business, Tax and International Sections
  • International Bar Association
  • Offshore Institute
  • Asian Business League
  • Center for International Legal Studies
  • Society for Trust and Estate Planners
  • Provisors

Areas of Practice:

Stephen A. Malley offers specialized and experienced counsel in U.S. and International tax and business planning, transnational business structures, international licensing, pre-immigration tax planning and estate planning for U.S. individuals and families with foreign interests and for foreign families with U.S. beneficiaries or U.S. based assets.

UNITED STATES AND INTERNATIONAL TAX AND BUSINESS TRANSACTIONS

Individuals or companies with international assets and /or business interests must consider not only the applicable laws of each Country, but also the tax implications of both the U.S. and relevant foreign jurisdictions. Tax rates on dividends, interest, and royalties are often determined by tax treaties. While “treaty shopping” is discouraged by the terms of many tax treaties, careful planning might take advantage of the most favorable tax treaties. The application of tax credits is often complex . Mr. Malley represents individuals and business entities engaged in domestic and international commerce. Of primary importance is planning to achieve the desired business purposes, taking into consideration foreign law and business practices.

Mr. Malley assists non-U.S. clients in planning for U.S. legal, regulatory, and tax issues, and US clients in their business transactions and arrangements overseas.

Failure to comply with foreign and domestic legal and tax obligations can result in serious problems.

LICENSING AND SALE OF TRADEMARKS, PATENTS, COPYRIGHTS AND COMPUTER SOFTWARE

U.S. tax law imposes strict guidelines of the transfer of intellectual property but it is often possible to minimize or defer U.S. tax exposure in connection with overseas licensing. Many but not all tax treaties limit the withholding tax on royalty payments, both into and out of the U.S. Joint development of IP with a foreign partner or subsidiary is also subject to IRS rules and regulations, and these do change from time to time. Foreign licensors into the U.S. must consider the tax implications in all relevant jurisdictions to maximize returns. Business issues, such as control and payment, need careful analysis and consideration of applicable business practices, currency controls and exchange rates.

TRANSACTIONAL ESTATE AND TAX PLANNING

Estate planning often involves consideration of Estate, gift and income taxes. US persons with overseas assets, and foreigners with US assets, require specialized professional advice to avoid negative tax and probate issues. U.S. taxpayers with foreign spouses are particularly vulnerable to negative tax consequences absent appropriate planning. The U.S. estate tax regime is in flux, and the tax exemption amount for 2013 is in doubt.

Foreign persons with U.S. assets can be subject to U.S. gift tax, and, on death, to U.S. estate tax, and this comes often as an unpleasant surprise. The U.S. tax code provides guidance on what types of assets are “sited” in the U.S. for gift and estate tax purposes. Often, it is advantageous for a foreigner to hold U.S.based assets in an offshore entity, for example in a Trust or corporation, as best determined by the foreigner’s own or selected jurisdiction. The use of U.S. tax free offshore private placement life insurance may be very advantageous in the right circumstances.

Foreign families with U.S. beneficiaries can achieve tax minimization and/or control with proper planning.

ASSET PRESERVATION PLANNING

Mr. Malley provides transnational estate, tax and asset protection planning for United States citizens and for foreign nationals. Asset protection should be considered in any estate plan. There are many planning opportunities to achieve this protection, depending on factors such as the extent and location of assets, and the individual’s family arrangements, beneficiaries, and other planning goals, which may include privacy and anonymity. Asset protection should be part of any estate planning whenever significant assets are involved.

In the U.S., fraudulent conveyance laws (not discussed here in detail) must be considered whenever there exists a known creditor, any transfer of ownership of assets, including to a domestic or offshore irrevocable trust, might be deemed by a court to be a fraudulent conveyance which can be “set aside” for the benefit of a judgment creditor. However, the Transfer of assets in such circumstance may not automatically constitute a “fraudulent conveyance” but careful analysis is required. In such circumstances, there are arrangements which can be made to lawfully protect assets, including the use of limited liability companies in beneficial jurisdictions and possibly private placement life insurance.

Asset protection planning undertaken before there is a creditor issue offers many more options. For example, the use of “family” limited partnerships or limited liability companies can be appropriate; and irrevocable trusts domiciled in certain States can allow the settlor of the trust to be a discretionary beneficiary and still protect the trust assets from creditors (not the case in California.).

On-shore and offshore holding companies are of use in certain circumstances.

Private placement life insurance can be structured to provide substantial asset protection while also affording access to the funds through tax free loans from the policy. Offshore insurance companies offer more flexible terms, but the policies in any case should be made U.S. compliant, to earn U.S. tax free.

The ultimate forms used to protect assets will be determined by relevant facts, estate and tax planning objectives, and the particular wishes of the individual.

PRE-IMMIGRATION TAX PLANNING

Persons immigrating to the U.S., either permanently or for temporary employment, will be subject to tax on world- wide income. Depending on circumstances, planning before arriving in the U.S. can minimize exposure to U.S. income and estate tax; there is a minimal estate tax exemption for estates which pass to non-Citizens.