We have been helping and advising a good number of clients over the years who are the executors in wills made outside of China by testators, in regard of the administration and distribution of estates (real estates, corporate shares and bank deposits) located in the mainland of China.
Unfortunately in most cases, foreign executors would find themselves ending…
Just approached by a client from Southeast Asia who inquired about inheriting his Dad’s estate in China, a real property in Shanghai.
He contacted me because he felt suspicious of something that must have gone wrong about his current lawyer working on the inheritance matter. It has been almost a year and the client has spent most of their budget for the …
Part of the estate planning services always concerns the caring of the elderly people. After all, we are all getting old each day and we all probably lose capacity to act on our own some day in the future.
Guardianship is the legal system designed for people of no or limited capacity due to young age or loss of mental capability, so that their interests are being taken…
China has enacted its long-awaited Foreign Investment Law this March but will only come into effect as of January 1, 2020. So far this law is warmly welcomed and hailed at large by the international communities.
Well, there are a lot of comments on the Law and its impact and implications on existing and future foreign investment in China. But hardly is there any…
Pretty often I am approached by clients or by foreign peer attorneys inquiring about how they should deal with their China properties when they divorce in a foreign jurisdiction.
Some of them are too late when they call me. Kate (not the inquirer’s true name) is one of them.
She has been living with her husband in California for many years and now is the process…
Over the last 10 years, I and my team have been offering legal services related to inheritance and estate planning for clients from many other countries outside of China. We have written a number of posts on this blog in that regard.
As per request from an American lawyer, Ms. Jiah Kim, who specializes in cross-border estate planning catering to her American clients,…
In China, today is the first day of China lunar new year of pig.
The whole country is in a happy mood. A 7-day holiday has started from yesterday. A lot of celebration activities are going on in all parts of the country, from Beijing China Central Television to local TV stations, from big cities to small towns.
China Lunar New Year or Spring Festival is a time for family…
International or cross-border marriages in China and with Chinese have been on steady rise in the past, and thus international or cross-border divorces have seen increase as well in China. We have been repeatedly approached by clients who wish to divorce in China with his or her spouse that is also a foreigner.
With regard to divorce (without regard to child …
In most cases in the past years, we help foreign clients in dealing with inheritance or succession of real properties, mainly residential properties like apartments or houses in cities like Shenzhen, Shanghai, Guangzhou, Beijing and even Suzhou.
Ocassionally, we received clients’ inquiries about inheriting chattels or personal properties (properties…
With so many Chinese emigrating to foreign countries while having substantial assets within China or so many foreigners holding China assets, it is no wonder that we have seen the increase of inquiries regarding estate plan for their China assets, mainly real properties, corporate shares or bank deposits.
I. Why Do You Need a Separate Will for Your China…
We have already written a few articles regarding inheritance by foreigners of corporate shares (a stock company limited by share) or equity interests (a general limited liability company) in a China company, where typically the deceased is a Chinese citizen being a shareholder in a China domestic company and the heirs (often spouse and children) have already…
This post is rather an effort of myself in learning property laws in common law countries.
As a lawyer, one of my main law practices is to help China’s high net worth individuals to work out their estate plan under which very often clients wishes to allocate their assets or properties in both China and offshore countries. It is critical for me to understand…
China has enacted its recently revised individual income tax law, a big overhaul of the law over more than 30 years from its inception.
Some of the changes will be set to have an impact on you, either foreigners or oversea Chinese.
1. New Definition of Tax Residents
In the prior version of the IIT law, a tax resident is one who has domicile within China or otherwise…
I have observed one interesting thing in my legal practice in family law area. While Chinese people within China are not much interested in making their estate plan, those overseas Chinese are however more keen to prepare for their late years of life and post-demise affairs.
With so many Chinese migrating to foreign countries across the globe, many of them don 
In the past a couple of days, four cities in China, Shanghai, Xi’an, Changsha and Hangzhou, has announced that they will restrict corporate entities in purchasing local properties, a new round of efforts in reining in local property market.
For a decade, China (mainly the central government) has been wrestling with property markets. On one hand, the…
Taxes are one of the major concerns of foreign heirs inheriting estates located in China. What taxes are levied on the estates or the inheritance? Is there any way of optimizing taxes in China on acquiring and cashing in on the estate assets?
I. Taxes for Inheritance of Estates
(1)Â No Estate Tax or Inheritance Tax in ChinaÂ
In today’s world, many countries…
It is no longer anything fresh for a foreigner to have assets or properties in China. The foreigner can be either real foreign individual without China root or overseas Chinese or naturalized Chinese. So when those people set up trusts in their residing countries (outside of China) and wish to place their China properties (either real properties or shares)…
This is the third post regarding inheritance of corporate shares in a China company. Again it is about a special situation that may become more and more in reality with more and more Chinese riches migrating to foreign countries.
I. Facts of the Case
In 2002, a Chinese husband set up a trading company with a third party, and business went well. In 2006, the…
A nominee shareholder agreement (the “Agreement“) used herein refers to the agreement or contract concluded between two persons (individual or body corporate) whereby A wants to invest in a certain company but for various reason he is hidden from public disclosure and instead, his investment is made and registered in the name of B who …
Again this is a post for people who are caught in a divorce proceeding in either China or a foreign country but have marital properties located in China, in particular, real estate such as apartment, house, office or industrial premises.
As a Chinese tradition, parents often buy properties for their children even when they are very young or still babies. Nowadays,…
