This is an open secret, even to IRS in USA that many American citizens marrying foreign nationals may hide their assets in such foreign countries where their spouses are from.
A typical example: an American businessman gets married with a China lady and in order to avoid high-rate taxes levied by IRS, the American husband keeps quite a bit of cash in the bank account…
We are talking about China courts dividing marital properties involved in cross-border divorce cases where choice of law applicable to the division of marital properties plays a deciding and vital role that could lead to wildly different result.
By the way, this is not the first post discussing property division…
Jason Tian, the blogger, Senior Partner at Shanghai Landing Law Offices. You can reach him at: [email protected] or [email protected], or call him directly at+86-13816548421 (also his WhatsApp)
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