Economist: Inheriting money from abroad is a pain

Just ran across an interesting article posted on Economist website (click here for the whole article), depicting the pains and complexity surrounding cross-border inheritance. It is true indeed, in particular if China is involved in the case of inheritance of estates in China by foreigners.

Jurisdictions

Dealing with the belongings of the dead is a grim

Can I Divorce in a China Court?

I was approached for advice by a foreigner in regard of his contemplated divorce in China with his wife who is also a foreigner.

The facts of the case are: the couple, the husband from USA and the wife from East Asia, got married outside of China; the husband has been working in a Chinese city for more than 3 years, establishing his domicile in China under the…

Should the couple both sign the contract for sale and purchase of the property?

In China, properties, personal or real, acquired during marriage are statutorily prescribed to be community property of the couple even though only the name of one spouse is registered as owner on the relevant title deeds or ownership certificates. Being community property in the case of real property such as apartment, houses, condo, office and other commercial…

An agent needs express authorization to appoint a sub-agent in China

This is a just a reminder to foreigners who may issue a power of attorney to their Chinese agents in dealing with affairs in China.

In the course of advising a few American three individual clients on their inheritance of a Chinese real property, I realized that it is worth a brief post on the blog.

Among the three inheritors, one of them has authorized the other two…

Move Money and Property Out of China

Moving money, assets and property out of China is quite a sensitive matter in China, though such moves take place every day across the Chinese borders. It is a known secret that a bulk of the money so moved is illegal proceeds generated by corrupt officials and their cronies. While we see a great deal of illegal transfer across the border, for ordinary people, moving…

Add your name onto the title deed of the property registered in the name of your spouse

We are talking about real estate in the context of a marriage under CHINESE LAWS.

It is not a new topic at all. Ever since Chinese Supreme Court handed down its third interpretation on Chinese marriage law in last August of 2011, in which the court declared that real property that is bought after marriage with the money from the parents of one spouse and registered…

A frequent question about inheriting real estate in China

When it comes to inheriting real estate in China, things often get more complicated than inheritance of personal property such as bank deposits.

For example, in the current inheritance matter I am handling on behalf of an American client, there are four heirs  that are entitled to take a share of the estate property. The parties are in dispute regarding what…

Need I pay the individual income tax in China?

An American person had an issue regarding individual income tax with his employer. He approached me for advice on that.

It is a simple matter. The guy is hired by a newly established joint venture in HK and actually he is a minority partner in the joint venture also. The JV has business operation in China. The guy was sent to China for a few meetings for which he spent…

If a foreigner gets killed or injured in the high-speed train collision in Wenzhou, China

China’s deadly Wenzhou train crash has passed for more than a year, leaving still a few dozens of people in agony awaiting for compensation from Chinese Ministry of Railway. For most of those whose lives are claimed in the incident, their relatives should have accepted the compensation of RMB 915,000. But not all of them.

I am retained recently by the …

What can be written into the pre-nuptial agreement under Chinese family laws?

Recently I came across a very interesting article posted on Ifeng.com, a very popular Chinese web portal, talking about pre-nuptial  agreements between various type of stars in the world such as UK prince Williams and Kate, Beyonce and Jay-Z, Britney Spears and Kevin.

Some of the fun points in their pre-nuptials are:

(1) In the agreement between Mike Douglas…

China’s new exit-entry law overhauled

China top legislature has passed the new law, namely, the Law of the People’s Republic of China on the Administration of Exit and Entry on June 30, 2012 that will come into force about a year later on July 1, 2013, a good gift for the communist party birthday then, I guess.

Needless to say, this law directly affects expats in China in many aspects. I would like…

Image right protection in China

More and more foreign athletes are coming to China for their new opportunities, in particular, in football sector. News has it that Kaka, the Brazilian genius footballer is likely to join China Super League team, EverGrande. A few other big names have also shown up in Chinese green fields such as Drogba, Anelka.

In every such a deal, the clubs offering hefty …

Disrespect for life in China, a display of weak human rights protection

The lady who was coerced to undergo to an abortion of her seven-month fetus has caught the attention of the whole nation in China, and probably of the whole world, an incident just following another closely related event involving the high-profile blind activist who has been fighting against local abortion practice in Shandong province, an eastern province…

Jurisdiction clause in loan agreements: you cannot afford to ignore this, esp in Shanghai

Good lessons are learned from great frustration.

A client entrusted me to sue his borrower for a return of RMB 1 million based on an agreement signed by the parties. The legal relationship is straightforward indeed: you borrowed the money, and then you repay it when due.

My client, the lender, and the borrower, while both living and working in Shanghai, are however…

Nothing is impossible in China, you also think so?

It has been in place for some years from 2006 when China central government imposed restrictions on foreign individual or legal entities in buying properties in China, an move taken to rein in the then out of control price hike. This restriction is further reinforced in 2010 to the effect that each foreigner can only “buy” one piece of residential…

make a will disposing of properties located in China

The number of  foreigners with some kinds of properties or assets in China has been sky-rocketing every year for the reasons that (1) more and more foreigners come to China for luck of fortune, and equally (2)  more and more Chinese citizens emmigrate and convert into foreigners. Naturally, foreign-related legal affairs have been increasing exponentially,…

bona fide principle in Chinese laws

In a leasing/occupancy dispute where I represent the owners (a couple whose names are both registered on the title deed of the property) of an apartment in Shanghai, trying to take back the apartment which had been leased out to a foreigner “tanant” by the owners’ friend who was once entrusted with the keys of the apartment.

In response to …