Thursday, 2 April, 2009

Vistra expands into Asia - April Newsletter (edition 9)

In our April 2008 newsletter we explained our ambition to develop a substantial presence in East Asia. One year later we are proud to announce that our Hong Kong office is now open for business. In this issue John Ashwood and Erik Leenders explain how Hong Kong is the gateway between Europe and Asia. We are celebrating this important milestone with an office launch party on the 7th May. For invitation details, please contact Yasmin Stewart.

As the recession sharpens its teeth new opportunities arise. In response to a growing demand for management of vessels repossessed by lenders, Vistra Marine can offer help with a repossession management package. With swift action, Vistra can apply its dedicated resources to minimise running costs and optimise resale opportunities.

As the G20 summit kicks off in London on April 2 the recession has re-ignited an old debate about the so called "tax havens". On March 13, 2009 the Swiss government announced that it would adopt OECD standards for the future streamlining of administrative assistance. What this means in practice for Swiss banking secrecy is explained further.

After flourishing for almost 80 years, the Luxembourg Holding 1929 company is about to disappear. It follows a conclusion by the European Commission that the tax exempt facility of the Holding 1929 company violates EC state aid rules. In this Newsletter we explore several alternatives.

Due to the continued growth of Vistra, we have re-designed and launched a new Solutions section on our website. This re-design will provide you with easier navigation, giving a clear description of services and links directly to key Vistra contacts in relevant jurisdictions.

 

Bart Deconinck

Group Chief Executive