Seamless Corporate & Trust Services in China

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Antonia Bradley
10 years ago
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1 Seamless Corporate & Trust in China

2 About Vistra Group Ranked among the top four corporate service providers globally, Vistra Group is a versatile group of professionals, providing a uniquely broad range of and solutions. Our capabilities span across international incorporations to trust, fiduciary and fund administration. The Group employs over 1,300 professionals in 35 countries throughout the Americas, Pan Asia Pacific, Middle East and Europe. In China, in order to provide a full spectrum of targeting different market segments, Vistra Group operates under four main brands. OIL is the trusted leader in international incorporations, company formation and post-incorporation support across global jurisdictions. Vistra is a specialist service providing tailored trust, fiduciary, fund and corporate globally. NovaSage is a leading company incorporation service provider specialised in offshore structures. TAKA is a renowned business provider delivering incorporation and business outsourcing. 1

The Group employs over 1,300 professionals in 35 countries throughout the Americas, Pan Asia Pacific, Middle East and Europe.

3 Pioneer in corporate and trust in China As a leading global player with expert industry knowledge and location specialists, Vistra Group has a deep understanding of the professional worlds of our clients and a proven track record of offering highly versatile solutions, provide the people, processes and products that help our clients get the most from their international business. China has evolved as one of the world s most sought after destinations for commerce and investment since opening its doors to international investors in In recent years, foreign companies who have already set foot in the country must constantly keep up with the varying regulatory changes while maintaining their business structures in compliance with local regulatory requirements. Setting up and running a business in China is challenging, including identifying the best structure to adopt, and complying with local administrative and tax regulations should not get in the way of profitability, growth and expansion. With the extensive local knowledge and quality, Vistra Group is capable of providing bespoke advice to international clients who are planning to explore or enter the China market or grow their operations in the country. For those Chinese clients who are seeking opportunities around the globe will benefit from our global network and resources. We work as trusted partners in navigating new jurisdictions wherever in the world our client wants to do business. As one of the largest corporate and trust providers in China, Vistra Group is well positioned to provide our clients with in-depth local knowledge, well proven process and access to major jurisdictions information. We delivered our seamless comprehensive service offerings through four distinctive brands, targeting towards different market segments and clients needs Group established presence in China 4 Locations: Beijing Guangzhou Shenzhen Shanghai (China headquarters) 140 People Our Full Service Spectrum Milestones 1986 OIL commenced operations in Hong Kong 2005 TAKA entered the China market Company Formation & Renewal Technical Corporate Administration Trustee & Fiduciary Fund Family Office 2007 OIL opened office in Shanghai 2008 Vistra opened office in Hong Kong 2009 NovaSage opened office in Shanghai Sale of new companies incorporated in various jurisdictions Annual renewal to maintain each company in good standing Provision of registered office / agent and licence renewals for each company Amendments to Memoranda and Articles of Association Documentation and certificates Dissolutions / restorations Provision of company secretarial and administration support Company secretarial Bank account openings Registered office Directorships Corporate shareholdings Substance Bookkeeping and payroll Trust selection advisory Trust deed drafting Provision of trustee Preparation of accounts Fund formation Fund administration Registrar and transfer agent Trustee, corporate and secretarial Estate planning Monitor investment performance Manage lifestyle assets Treasury / cash management integrated reporting Vistra entered China setting up an office in Guangzhou OIL opened offices in Beijing,Guangzhou and Shenzhen 2012 The Group acquired NovaSage 2013 The Group acquired TAKA 2015 Vistra Group launched a new brand identity 2 3

China has evolved as one of the world s most sought after destinations for commerce and investment since opening its doors to international investors in 1978.

4 Case study Using offshore structures for wealth management and asset protection Case study International companies setting up operations in China The challenge A Chinese High Net Worth Individual (HNWI) wants to address the issues of business succession while retaining autonomy in his business operations. The solution Vistra helps the HNWI to set up a BVI Vista Trust which allows the business owner to manage the Company without direct intervention by the Trustee while still protecting the beneficiaries against misappropriation of assets. In order to set up the BVI Vista Trust, a BVI Company is needed under the trust structure. Vistra then asked one of its sister companies specialised in company formation to incorporate the BVI Company. And in discussion with the HNWI, the sister company also incorporated a Cayman vehicle in preparation of a future listing of the business. The benefits Allows the settlor to manage the trust assets through management of the underlying company Smooth succession planning Avoidance of probate Asset protection Confidentiality Mitigate tax liabilities The challenge A mid-sized European retailer that sells its products internationally wants to set up an office and operations in China for the first time, to sell to Chinese distributors and consumers but have no staff or representatives in the local market. The solution After a thorough analysis of the business model and market entry strategy of the European retailer, plus in-depth discussions on the appropriate structure, Vistra Group assists the European retailer to set up its holding entity in Hong Kong, and thereafter a Wholly Foreign Owned Entity (WFOE), together with subsequent branches in China to achieve its commercial objectives. As the company does not have plans to hire a full complement of administrative, finance, and HR staff while focusing on marketing and sales, it then commissioned Vistra Group s business support and corporate team to handle their company secretarial, bookkeeping, tax-filing, payroll and HR for all their various entities in China. Protecting the interests of a business owner Setting up operations in China Trustee European Retailer BENEFICIARIES Primary beneficiary Client during his lifetime Secondary beneficiaries Client s family members Settlor Client BVI VISTA Trust HK Holding Company IP Licensing Company* BVI Company Director Settlor and/or Client settlor s designated person * Licensing Agreements WFOEs pay a royalty to the IP company as a cost of business, indirectly reducing tax on profits Cayman Company (Listco) WFOE Hong Kong Company China Business Operations A B C D 4 5

The solution Vistra helps the HNWI to set up a BVI Vista Trust which allows the business owner to manage the Company without direct intervention by the Trustee while still protecting the

5 Vistra Group Global Network: 46 locations in 35 jurisdictions Group locations OIL s licenced jurisdictions Dublin Amsterdam Antwerp Brussels London Poznan Wroclaw Prague Warsaw Jersey Luxembourg Frankfurt Krakow America San Francisco Delaware New York Zug Geneva Zürich Bratislava Budapest Bucharest Anguilla Cayman Islands Cayman Islands Belize Bahamas British Virgin Islands Anguilla Curaçao Madrid Barcelona Sofia Bahamas Curaçao Malta Belize United States Cyprus British Virgin Islands Pan Asia Pacific and Middle East Dubai Beijing China Hong Kong Macau Malaysia Mauritius New Zealand Samoa Seychelles Singapore Taiwan United Arab Emirates Seychelles Johor Bahru Mauritius Singapore Guangzhou Macau Hong Kong Shanghai Shenzhen Taiwan Wellington Samoa Europe Belgium Bulgaria Cyprus Czech Republic Germany Ireland Jersey Luxembourg Malta Netherlands Romania Slovakia Spain Switzerland United Kingdom Hungary Poland 6 7

Madrid Barcelona Sofia Bahamas Curaçao Malta Belize United States Cyprus British Virgin Islands Pan Asia Pacific and Middle East Dubai Beijing China Hong Kong Macau Malaysia Mauritius New Zealand

6 Key contacts OIL Ernest Zheng Vistra Gary Wong NovaSage Jessie Chen TAKA Jeff Ho Karen Law Thun Lee Vistra Group Shanghai Headquarters 33/F Westgate Tower No Nanjing West Road Jing an District Shanghai , P.R. China Tel Fax /

com +86 21 6255 4018 Karen Law Karen.Law@oilglobal.com +852 2886 7602 Thun Lee Thun.Lee@vistra.com +86 21 6361 6488 www.nova-sage.com www.takaici.

Seamless Corporate & Trust Services in China

Seamless Corporate & Trust Services in China About Vistra Group Ranked among the top four corporate service providers globally, Vistra Group is a versatile group of professionals, providing a uniquely