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 husband…
Does it, the following cited paragraph, look familiar to you in any way?
…Good Day Sir
I am an American and was contacted by Citic Bank in November of 2015 some months ago as heir to a sum of money from there bank. They have set fees for months and I have paid all but this final fee which is in route to them by transfer, but they only give me 72 hours. They have never
Many foreigners are concerned with China estate taxes when they inherit estates in China.
As a matter of Law, China has not formally enacted estate tax laws despite rumor about it for many years. I personally don’t foresee this enactment any time soon. After all, without this law, Chinese rich people are already fleeing this country for various reasons.…
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
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…
China themed information is pervasive throughout the web. Randomly, I came across an article discussing China inheritance or succession system, entitled “facts about Chinese society’s inheritance“.
While the bulk of the information contained in the article is correct, it will be useful to clarify some of the points made therein.…
LAW OF SUCCESSION…
,You may have understood a little bit about how the inheritance/succession law operates in China after reading one of posts here “inherit a real property in China“. I have received a few inquiries on how they should make preparation in order to inherit a house in China. As those questions are quite generic in nature, I summarize the related information…
The following is an inquiry I receive from a HK lawyer regarding notarization of wills. As it may be a general issue among people living outside China mainland, I publish the question and answer here for your reference.
Dear Sirs,
I am a Hong Kong solicitor. I have a client who want to make a will in Hong Kong but she has property in Shanghai.
I will write a will for her.…
With the development of internationalization of China, it has saw steady rise in the number of cases where foreigners seek to inherit real estate properties located in China. As it is a cross-border issue, it may vex foreigners because of the complicated legal formalities that you need to go through in order to be able to succeed to the apartment/house in China.…
