COMMON REPORTING STANDARDS FAMILY OFFICES

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Domenic Washington
5 years ago
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1 More than 100 countries including Malaysia have committed to implement the CRS for the automatic exchange of information (AEOI) on financial accounts between jurisdictions which obliges financial institutions (including trustee companies and investment entities) to collect particulars relating to their customers to be submitted to the tax authorities in their country of tax residence. Coverage: What iscrs and how does it work? What would be your role? How does it affect you and your clients? COMMON REPORTING STANDARDS (CRS) The concept of family office in Malaysia is fairly new. It is a type of corporation established for a high net worth family to manage their investable assets. It is common for a family office to engage or employ advisers to manage the various asset classes it owns including real estate, public equities and private company investments. Coverage: What is Family Office and how does it work? What would be your role? How does CRS affect family offices? WHO SHOULD ATTEND STEP members Lawyers / Legal advisors Accountants Tax consultants Trust officers Financial planners Private wealth managers Private bankers

2 TIME EVENT 1.30 pm Registration & Light Lunch 2.30 pm Welcome remarks by: Farah Deba Sofian, Chairperson, STEP Malaysia 2.40 pm CRS the New Global Transparency What does this mean for you and your offshore wealth? Stacy Choong, Partner in Withers KhattarWong 3.20 pm Family Office Structures and Uses Valerie Wu, Partner and Head of Tax & Trust, Asia in Pinsent Mason LLP (UK) / Pinsent Masons MPillay LLP 4.00 pm CRS, Family Offices, Foundations and Charities the Malaysian Position Chua Wei Min, Director & Trust Officer in ZICO Trust Limited and Director in ZICO Allshores Trust (S) Pte Ltd 4.40 pm Panelist discussion Farah Deba Sofian Stacy Choong Valerie Wu Chua Wei Min Low Hon-Yu 5.30 pm Seminar ends and networking

SPEAKERS TOPIC: CRS the New Global Transparency What does this mean for you and your offshore wealth?

protection as well as to structure cross-border investments and assists family offices on establishment, tax and regulatory matters.

3 SPEAKERS TOPIC: CRS the New Global Transparency What does this mean for you and your offshore wealth? SPEAKER: STACY CHOONG, Partner in Withers KhattarWong She is a Partner at Withers KhattarWong and one of the leading lawyers in Singapore advising high-net-worth clients on estate planning and wealth protection as well as to structure cross-border investments and assists family offices on establishment, tax and regulatory matters. Stacy was previously a Managing Director in one of the top global private banks and as a Managing Director for the bank s wealth advisory team, she advised HNW clients on succession planning and wealth structuring. Prior to that, Stacy was a Tax & Private Client partner in the largest full service law firm in Southeast Asia assisting clients with all aspects of tax planning, structuring and litigation for both personal matters and corporate transactions. Besides helping clients set up family foundations and philanthropic trusts and ventures, Stacy also acts for charities, non-profit organizations and trade associations on tax, regulatory and compliance matters and she has served as charity trustees for charitable foundations. TOPIC: Family Office Structures and Uses SPEAKER: VALERIE WU, Partner and Head of Tax & Trust, Asia in Pinsent Mason LLP (UK) / Pinsent Masons MPillay LLP Since joining Pinsent Masons, Valerie Wu has set up the tax and private wealth practice for the Firm in Asia based in Singapore. In this capacity she advises families and individuals as well as the services providers to such families and individuals, for tax, trust and regulatory matters. In addition, she is on the panels of and works with licensed entities such as trust companies, fund managers, private banks, wealth advisory teams as well as family offices. Valerie is on the Citywealth s Leaders List 2016, and was also listed in the inaugural Who s Who Legal for Private Client in 2013, as well as Legal Week's International Trusts and Private Client Elite, a list of 100 private client lawyers and advisors worldwide tipped to be "at the top of their field." Valerie is called to the Singapore bar and also admitted as a Solicitor of the Supreme Court of England and Wales. She was also recently appointed on the Law Reform Committee of the Singapore Academy of Law. TOPIC: CRS, Family Offices, Foundations and Charities the Malaysian Position SPEAKER: CHUA WEI MIN, Director & Trust Officer in ZICO Trust Limited and Director in ZICO Allshores Trust (S) Pte Ltd She specialises in cross border corporate and commercial transactions, private mergers and acquisitions and private equity, as well as the regulatory compliance essential to such transactions. She has extensive experience in advising on the legal and compliance issues in foreign direct investments in all sectors and works closely with clients on practical and creative solutions. She is also experienced in private client work involving trusts and foundations (family and philanthropic). She also advises on the use of such structures for commercial and restructuring purposes. Wei Min was one of the external consultants in the law reform exercise undertaken by the Labuan Financial Services Authority in 2007 and headed the exercise to revamp the regulatory framework of the laws relating to the Labuan International Business and Financial Centre (Labuan IBFC) which translated into 8 new Labuan acts in February She advises on regulatory compliance issues on financial activities in the Labuan IBFC. PANELIST SPEAKER: LOW HON-YU, Executive Director of Banjaran Asset Management, Singapore He graduated from the University of Western Australia with a Bachelor of Commerce (Accounting & Finance). He is a Certified Public Accountant (CPA) in Australia and has attended the General Management Program (GMP) at Harvard Business School, USA. He has over 20 years of experience in the financial industry. Formerly both Regional Chief Operating Officer as well as Chief Finance Officer for Aberdeen Asia Pacific, his experience covers various disciplines including compliance, structuring, fundadministration, financial accounting, operations and general management.

4 REGISTRATION FORM Please fill in ALL the details. Kindly scan and send your registration form and proof of payment to STEP MALAYSIA via to Kelly Wu latest by 7 AUGUST (MONDAY) (Duplicate this Registration Form to insert additional names) 1) Name : 2) Name : 3) Name :

5 TERMS & CONDITIONS 1) REGISTRATION & CONFIRMATION MUST be submitted with the completed registration form AND proof of full payment of the registration fee. The registration form and proof of full payment of the registration fee MUST be sent to on or before 7 AUGUST 2017 (MONDAY) (closing date for registration) Registration is on a first-come-first-served basis with full payment. Incomplete registration will be cancelled. 2) PAYMENT Registration Fee STEP Members RM50 per participant Non-Members RM150 per participant Special group rate of minimum 3 participants for Non-Members only RM120 per participant 3) PAYMENT MODE a) Telegraphic Transfer Details / Bank Transfer Account Name: PERSATUAN PENGURUS AMANAH DAN PENTADBIR ASET PUSAKA MALAYSIA (STEP) Bank Details: CIMB Bank Berhad Account No: Address: Lot 1-01, Menara Hap Seng, Jalan P. Ramlee, Kuala Lumpur SWIFT code: CIBBMYKL b) Cheque Details Cheque payments should be made payable to "PERSATUAN PENGURUS AMANAH DAN PENTADBIR ASET PUSAKA MALAYSIA (STEP)" & arrive at our office at "c/o CIMB Trustee Services, 21st Floor, Menara CIMB, Jalan Stesen Sentral 2, KL Sentral, Kuala Lumpur" with the completed registration form on or before the closing date 7 August 2017, Monday. 4) CANCELLATION AND SUBSTITUTION POLICY If the participant is unable to attend and/or is to be substituted with another participant, please notify us via at Kelly.Wu@step.org latest by 1 August 2017, Tuesday. There shall be no refund of payment that was made if the participant is a no show.

Latest Malaysian tax developments affecting companies

Latest Malaysian tax developments affecting companies Tuesday, 31 May 2016 8:30 a.m - 5:00 p.m. Deloitte Tax Services Sdn. Bhd. Meet Point 1 & 2 Level 15 Menara LGB 1 Jalan Wan Kadir Taman Tun Dr Ismail