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…
Over years, our team has practiced the inheritance/succession law and estate planning for foreign clients with assets in China. In most cases, we have no problem of explaining what inheritance means under Chinese law, but we do have a dispute over what we should do to complete the inheritance of his late father’s estate property in Shanghai, China.
It is not uncommon that a person dies during an ongoing court proceeding.
So, what will happen and ensue upon the death of a participating party to a court proceeding under Chinese laws? It is more of a procedural issue than a substantive one. Therefore, we should find answers in China Civil Procedure Law.
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…
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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