Should I Write a Separate Will for My China Assets?

This question has been raised frequently over time. A recent inquiry was from a client in UK who has a couple of real properties in China. Upon working on his estate planning, he wondered whether he should write a single will covering both his UK and China assets or write a separate will for China assets. By the way, the inquirer is British, domiciled and habitually…

Right of Residence and Cross-border Estate Planning for Properties in China

Right of residence? Something you may have not heard of before in China. It is no wonder since this new legal concept is just recently created in China Civil Code, which has yet to take effect on January 1, 2021.

Mother's right of residence and my tax bill
Your Home Owned by Others

I. What is Right of Residence?

First, right of residence is a right in real properties, and to be more specific, a right created in…

China New Regulation on Cosmetics (II): Exports to China

Has any world big cosmetic name not set their feet in China yet? Probably not. China market is simply too big and profitable to miss. In 2019, the cosmetic market grew by almost 13 percent (equivalent to RMB 40 billion or approx. US$5.72 billion), to reach RMB 299 billion (US$42.8 billion), according to data published by the National Bureau of Statistics.

Corporate Seal Fraud in China: the lesson learned from Tencent and Lao Gan Ma brawl

Just recently a piece of news has spiraled quickly among netizens in China. It is an interesting story between two most well-known Chinese companies: Tencent and Lao Gan Ma.

Tencent launches new social media apps for countering competition ...
WeChat is dominating every smart phone in China.
联名口红,魔性广告,老干妈为何在做辣酱的路上越走越偏?-看点快报
Lao Gan Ma Chili Oil, dominating Every China Family Tables

I. What Happened

On June 29, a court decision showed that Tencent had applied to…

Write Your Pre-nuptial Agreement under China Laws: Points for Attention

Cross-border marriages are no longer rare in China, so are cross-border divorces in China.

People who are about to get married have increasingly used pre-nuptial agreements to plan for their financial life after marriage. We have helped quite a few clients draft such pre-nuptial agreements.

What Is a Prenuptial Agreement - Do You Need One Before Marriage?

However, please note post-marriage nuptial agreement may be void…

Shenzhen Property Market Update: Serious Curbing Measures Issued

Today, July 15, 2020, Shenzhen local municipal government stepped up new measures to curb local frenzy property market that has made many observers drop jaws.

However, in all other first-tiered cities like Beijing and Shanghai, the property markets have been pretty steady without much obvious rise or fall esp in Shanghai where I live and work, making Shenzhen…

China New Regulation on Cosmetics (I): Rules on New Raw Materials

Top 5 Application to Sell Beauty Products in China - Update 2020

On June 29, 2020, China officially published its long-awaited regulation on cosmetic industry, titled as “Regulation on Supervision and Administration of Cosmetics” (hereinafter “New Regulation“).

It is kind of a surprise to see how many changes have been made in contrast to the draft that was said to be passed at the meeting of…

Cross-border Estate Planning: China Round-Trip Investment Rules

To many, estate planning is just a part of family law practice having little involvement of corporate and investment laws. It is no longer true in today’s world when clients often have their major assets in the form of ongoing businesses, i.e., companies or corporations.

I. Why Round-Trip Investment Is Relevant

There has been growing demand among Chinese…

Inheritance by Foreigners of Bank Deposits in China

We have written a lot of posts related to inheritance of real estate (real properties) in China. Frequently, we get inquiries about and deal with inheritance of personal properties such as stock/equity interests in a company or bank deposits/cash in China.

It is worth a separate post because the rules regarding inheritance of personal properties are quite…

China Civil Code to Reform China Inheritance Law: Estate Administration and New Form of Will

On May 28, 2020, China has just enacted its first Civil Code, to be effective as from January 1, 2021, a long-awaited legislation that aims to codify China’s fragmented civil laws. Brought under its umbrella are China Civil General Provisions (Chapter I), China Property Law (Chapter II), China Contract Law (Chapter III), China Personal Right Law (IV),…

Update on Shareholder Liability in Regard of Subscribed Capital in a China Company

We should have written this post earlier.

On this blog, in old posts, we mentioned the shareholder liability in regard of their subscribed capital contribution:

Can company’s creditors go after shareholders who have not paid up subscribed capital?

Registered capital, the greater, the better? Not really!

The main point is that a creditor of a company may go…

Cross-border Divorce in China: Choice of Law on Division of Matrimonial Properties

Recently we are dealing with two interesting cross-border divorce cases. The parties to the divorce don’t have habitual residence in China but they have real properties situated in China that need to be divided and partitioned. An interesting legal issue regarding the choice of applicable law appears here that doesn’t seem to be clear in judicial…

China Tax Update: new rules regarding China tax residents’ overseas income

On January 17, 2020, China State Tax Administration (CSTA), issued an announcement regarding personal income tax on income sourced from overseas by its tax residents.

A few takeaways from the announcement.

I. China Tax Residents

As the same with definitions of other jurisdictions, a tax resident of one country doesn’t have to be the citizen of that …

Three Ways of Inheriting Estates in China

I have written quite a few posts back in regard of foreigners inheriting estates in China:

How a foreigner inherit properties in China

Inherit Personal Properties in China

China Estate Planning: how to Deal with Your China Assets Generally

There are quite a few more articles in that regard, pls use the blog search function to locate them.

None of those posts have…

Video: make a will for your China assets and the points you need to know

My second video on YouTube channel (China Family and Business Laws) talking about how a foreigner or Chinese living outside of China should consider when they make a will for their assets in China.

I am still trying to accept my own voices and sounds when I find a bit strange. 🙂

Ok, here is the link if you wish to listen, and you are welcome to subscribe this Channel …

My YouTube Channel (China Family and Business Laws) Came Online Today

I know I should have done this much earlier, as part of my digital marketing efforts. However, to launch a YouTube channel posting videos is so much different from just writing posts esp when I have to speak English in the video.

But I understand a live person in the video will present a much better impression on audience. People who may need our help may have serious…

Export Non-Special Purpose Cosmetics into China

Cosmetics are big business in China. There are quite a few aspiring fortune stories in cosmetic industry. One is about a celebrity couple launching a new facial masks business that garnered billions of RMB in a couple of years. Recently, a young man that wears makeups makes a big fame on online video platforms among girls and women.

January beauty launches new make-up, skincare, fragrance reviews
China non-special purpose

Selling Products Online in China? License Requirements

China markets are magnets to world business owners who want to sell their products to 1.4 billion Chinese consumers.

With China e-commerce developing so fast and pervasively that it has almost changed the mainstream shopping habits of Chinese society from bricks and mortars to online shops, to ride the tide, foreign businesses are looking into tapping that…

What Can You Do about Your Tenancy-in-Common Properties in China?

As you know from posts on this blog, we deal a lot with inheritance issues on behalf of foreign clients with respect to estate properties in China. Very often, such inheritance of properties (typically real estate properties) will end up in a co-ownership of the properties by two or more heirs or beneficiaries. Well, if the co-owners are on good terms, everything…

Property Seller Slips into a Coma, What About the Sale Contract under China Laws?

Real life can be complicated beyond imagination.

After working in cross-border estate planning for more than a decade, I just came to know a case brought to me by an inquirer which is intriguing to me as it should be the first case of its kind my all my past legal practice. By the way, I just gave some oral advice back then.

I. Facts of the Case

Here are the facts: a foreigner…