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Feb 2015
9:00 UTC
Understanding Deoffshorization
Understanding Deoffshorization

Find out more about deoffshorization!

Topics discussed included:

  • Might an international discretionary trust in which the settlor and beneficiary demonstrate that they do not influence profit distribution and have no rights to revoke assets after their transfer to the trust possibly escape from CFC rules?
  • How easy is it for Russians to give up their passports and/or residency status in Russia if they wish to avoid dealing with this issue?
  • Is the use of a Discretionary Trust an option for reducing the control below the CFC threshold?
  • How much profit does life insurance bring in regularly and for what offshore structure created, if we do not speak about creating funds for children?
  • And lots more!

Submit Your Questions

If you've listened to the recording or read the transcript and have any follow-up questions for our panel, please feel free to submit them on our forum discussion.



Emily Yiolitis

Emily Yiolitis

Emily is a founding partner of the Cyprus office of Harneys, a leading global offshore law firm. She is also global head of the firm's Tax and Regulatory Department. Emily's work includes international tax structuring and planning and her clients include professional intermediaries around the globe as well as high net worth individuals.

Emily is a founding Committee Member and Chairwoman of STEP Cyprus; the Cyprus representative of the European Tax Intelligence Group (ETIG) and a regular speaker at international tax conferences.

Her work on deoffshorization and other topics is frequently published in Cyprus and international tax periodicals.


Marina Warwick

Next panelist is Marina, she is the director and founder of alma Legal.

Marina is a corporate and commercial lawyer with a master's degree in international tax, intellectual property and Internet law, who uses her skills to assist tax-efficient structuring and financing of businesses with international interests.

She uses her qualifications in English, Isle of Man and Russian law to serve innovative businesses, including e-gaming and cryptocurrency operators, biomedical research and venture capital enterprises, and established industries such as investment funds, shipping and aviation, advising in particular on tax-efficient and risk-mitigating structuring of ownership and management of various vehicles.


Maxim Shvidkiy

The third panellist is Maxim.

He is the Managing Director of SHFM OVERSEAS Sweden Filial - a business unit specially dedicated to the provision of business services in Sweden with focus on business structuring, asset protection and immigration full-service programs.

Maxim specialises in complex business solutions including company formation and registration, corporate, family trusts or foundations set up, management and trustee services.


Sergey Bezbodorov

And the fourth panellist is Sergey, the Director in the Tax and Legal Services department of PricewaterhouseCoopers AG in Zurich. Sergey is a leading expert in tax planning for Russian and Central Asian clients and is a trusted advisor to many Russian UHNW individuals who he assisted with transitioning to tax compliant structures. He also has experience with US, UK, Turkish and Chinese private clients. Sergey also has vast practical experience with controlled foreign company rules in several jurisdictions.


Veronika Khan

Veronika was the panel moderator. Veronika is an independent consultant practicing in the sphere of international tax planning. Veronika is also an author of a professional blog (Tax-Today.Com) focusing on tax planning, investment and immigration opportunities in Asia, especially in Singapore and Hong Kong; it also covers topical issues such as information exchange, fight against tax abuse and deoffshorization. After several years of practice in consulting companies of Moscow (Russia), Veronika moved to Singapore to assist Russian business expansion into Asia.

Veronika introduced the topic of the panel: last year Russia adopted legislation amendments aimed to fight against offshore tax avoidance. Today, we will discuss problems related to deoffshorization and possible solutions to those problems.

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