Launching of a new practice group: “International Wealth Management, Trust and Estate Planning”
Written by Professor Robert Anthony, Anthony & Cie
GGI Insider (#49), September 2010
I am delighted to launch this group at the Beijing conference and act as its first Chairman.
It is the intention to develop this practice group which includes trusts and private equity issues. The idea is to enable cross jurisdictional support by member firms internationally creating investment opportunities and vehicles for firms and clients. The opportunity to create our own technology fund and cross fertilize international projects will create new missions and new openings for sponsorship by banks and other institutions.
In addition technical exchange should not be forgotten together with important evolution in domestic legislation in home countries that could be of interest to other members of GGI.
The meeting will formalize by appointing regional representatives. Steve Cantor & Webb P.A. Attorneys at Law, Miami, Florida – for example already agreed on being the Regional Chairman North America.
Your ideas and contributions are welcome. If you know colleagues who could be potentially interested or sponsors please help be part of GGIs future from today. I will see you at our meeting in Beijing. This will give us the opportunity to better support clients wishing to invest across borders as well as exchanging technology.
Profile of Prof. Robert Anthony
Professor Robert Anthony is a Chartered Certified Accountant (UK) and Certified Financial Planner (France). He is also a Professor of International Tax Law and teaches in the Faculty of the University Thomas Jefferson School of Law San Diego, California, USA.
He is Principal Partner at Anthony & Cie an international Family office based in France and London. The practice consists of lawyers, wealth managers and administrators, and tax experts. It advises on cross-border tax issues, often relating to property, inheritance, investments, international trade.
Prof. Anthony is a member of ACCA (Association of Chartered Certified Accountants), CIP (Chambre des Indépendants du Patrimoine), CGPC (Conseil en Gestion de Patrimoine Certifié), IFA (International Fiscal Association) and ITPA (International Tax Planning Association). He is also on the board of the Institute of Directors Monaco, Sophia Business Angels, and Angel Investment Funds.
Prof. Anthony has chaired and spoken at many international seminars. He has over the years submitted large number of publications to various professional journals. He also authored the book ‘International Fiscal Strategy’ published by Monitor Press in London.
Monaco Bilateral Agreements
The principality of Monaco has signed recently seven new bilateral agreements favoring the exchange of information relating to tax cooperation. The countries concerned are Sweden, Norway, Finland, Denmark, Iceland, the Faroe Islands and Greenland. Monaco has now 23 agreements 12 of which are with OECD countries. This gives Monaco a leading position having also signed agreements with Austria, USA, Luxembourg, Belgium, and The Netherlands.
In addition Germany is also about to be completed. It is not always realized that the agreement with France goes back to 1963. Residents in Monaco that are of French nationality are generally subject to French taxation. It is strange that Italy and the UK have not pushed forward harder to do agreements with Monaco. Although it is possible with the end of the Italian Amnesty this could speed up in their case negotiations. This would enable Monaco to be removed from the Italian grey list. There are certain agreements in place: the USA, Austria, Luxembourg as well as Saint Marino. Obviously, the method of applying the treaty will vary depending on the country concerned. In any event the request needs to be specific identifying the person concerned the steps already taken in the other country as well as the period. One should not be fooled that the legislation is really in place and Monaco will apply the agreements where justified.
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