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Jane Pearce, Managing Director at Vistra Jersey, spoke at the National Finance Summit 2018 which was held in Dublin last month.The Summit brought together over 1000 CEO’s finance directors, funders and financial technology companies.At the Summit, Jane spoke about the benefits of outsourcing, referencing our worldwide research study with both Limited Partners (LPs) and General Partners (GPs).Find out more about this research report here.
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Vistra has been named one of the 2018 eprivateclient Top Trust Companies in the Tier 1 category.Over 100 trust companies were surveyed for this list, and the rankings are based on data received on areas such as number of client facing directors, number of client facing trust officers/managers, total number of staff and fee income. There are three Tiers, which are not based on size alone but on reputation, quality of service, how the firm has fared in the past 12 months, mergers & acquisition activity, how they are viewed by other bodies and publications, and the extent of their UK offering.Earlier this year, Vistra’s CEO, Martin Crawford was named one of the most influential private client professionals for 2018 in the ‘50 Most...
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YES, CHINA IS AGEING. The population of China will reach roughly 1.45 billion by 2030 from 1.3 billion now. It is forecasted that over a quarter of the population will be age 65 or above by 2030 giving rise to a drastic shrink in the size of national labor force which will greatly hinder the growth of China’s economy in the long run. This imminent problem is attributed by the one-child policy implemented by the government of the People’s Republic of China in an attempt to combat rapid expansion of population between 1949 – 1979 when healthcare and medical attention became more easily accessible by general public, including those in rural areas. In the hope of alleviating the ageing issue, China has loosened its one child policy to now...
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Almost one year after its signing, the Luxembourg-Cyprus double tax treaty (DTT) entered into force, with the application of its provisions starting 1 January 2019.Brief details of the DTT, which is based on the OECD Model Convention, are as follows:DividendsCross-border dividends payments are to be subject to 0% withholding tax at source if the beneficial owner is a company which holds directly at least 10% of the capital of the company paying the dividends.In all other cases, dividends payments are to be subject to a 5% withholding tax. InterestCross-border interest payments are generally to be taxable only in the country of the recipient of the income – i.e. no withholding tax being levied at source; subject to certain EU anti-avoidance...
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At Vistra, we provide escrow services as one of the numerous products offered to our clients. As a prudent and independent Escrow Agent we seek to ensure that every aspect of the escrow transaction meets the needs and requirements of the client from a commercial and escrow agency perspective. There are some aspects to consider when entering into an escrow transaction, which we would like to highlight for your consideration in this article.In order for an escrow transaction to run smoothly, the parties to the escrow should ensure the escrow agreement addresses certain key issues, including:Release Trigger/Mechanism of the Escrow AssetsThe release of the escrow assets should be simple and straightforward. Therefore,...
