Ultra high and high net worth (UHNW) Chinese clients face an impending liquidity squeeze as Beijing’s retroactive offshore tax rules levy a 20% tax on trust transfers and foreign income, forcing wealth managers to restructure illiquid holdings in private equity and real estate. Jacky Leung, Royal Family Office “From now on, clients will be more cautious when setting up offshore…
China offshore tax push threatens illiquid trust assets, warns MFO
Photo by Dominic Kurniawan Suryaputra on Unsplash
Have a confidential tip? Get in touch [email protected]