There is no off-the-shelf product that achieves the exempt from reporting foreign financial institution and excluded beneficiary account that is described more fully in our white paper (see: PRC Expert’s Guide).
This excluded beneficiary account is where you keep your secret about your money, investments and assets.
Offshore Banking secrecy is no longer there. That’s gone. It is over!
- you can’t trust a bank,
- you can’t trust a Trust and
- you can’t hide behind a nominee or ”Aunty” financial account.
In the past, you could hide behind a life insurance policy. Now those are not a hiding because money moving to it, or money moving out of it is reported and this information is exchanged and would be discovered.
”Offshore Centers’‘ such as Cayman, Bermuda, BVI, Panama, Channel Islands, Ireland, Isle of Man have no future. That is in the rear view mirror and in the past.
Recent changes mean that trusts are not anonymous. European countries require a public register of trusts. Anyone who had been hoping for anonymity in a trust in one of 130 jurisdictions is in for a nasty surprise.
That reporting between governments occurs from where the money is at now, whether it be from a business, a trust, a nominee account, life insurance company, bank or other person or entity, to where it is going is now enforced by intergovernmental agreement by means of the automatic exchange of foreign financial account information gathering and reporting.
The summary of what we provide are laws:
- Financial institution privacy and secrecy for your money, investments and assets. Recognized legal non-disclosure in the Peoples Republic of China (PRC)
- You are exempt from Financial Institution reporting challenges
- A Hong Kong Government regulated investment entity that is tax compliant in the PRC and recognized internationally as not included in your worldwide assets.
In this specific type of Exempt Hong Kong ORSO Trust is a government regulated, registered and recognized occupational retirement plan you are secure in both legal non-reporting and statutory tax compliance.