Posted by James McNeile, Partner
The recent events across the Middle East have highlighted the importance of wealth preservation. Contrary to popular belief tax avoidance is not the prime reason for protecting your wealth in an offshore structure.
Chris Hall’s experience in the Cayman Islands was dealing with a number of clients who had assets in potentially unstable countries. They often had an urgent need to protect their assets against a regime change, which could quickly result in their hard earned family wealth being nationalised.
The huge potential losses to British business interests following the recent events in Libya highlight these dangers only too clearly with a number of U.K. firms being left out of pocket. However, for the individual families on the ground the imminent danger of losing all their wealth is much more real. Protecting your assets in a suitable offshore structure in a stable regime is for individuals affected now more important than ever.
Chris Hall is able to advise on which jurisdiction is most suitable for individual families and how best to structure these assets. For example, if a family is based in the Middle East it can be very important to ensure that their wishes comply with Islamic rule. Chris Hall and his team are able to provide advice on Sharia compliant Wills and trusts.
For further information please email Christopher Hall or phone 020 7583 2222.