The global economic uncertainty that we are currently facing means that assets many individuals hold could be under threat from a downturn in value. The term recession proof is used to describe an asset, company, industry or other entity that is believed to be economically resistant to the effects of a recession. Although many items
Hollywood legend Sylvester Stallone and his wife Jennifer Flavin have hit the headlines after she filed for divorce. Within the divorce petition, Ms Flavin has claimed Sylvester Stallone ‘’has engaged in the intentional dissipation, depletion and/or waste of marital assets which has had an adverse economic impact on the marital estate. “Moreover, the Husband should
Asset protection and company formation specialist, Turner Little, explores whether the owners of Worcester Warriors could be in trouble from a legal perspective with their handling of the rugby club’s assets during HMRC’s winding up order. James Turner, Director at Turner Little, says: “Companies are well within their rights to protect their physical assets by
Offshore banking often brings one of two things to mind: either a type of bank account used exclusively by the ultra-wealthy, or, the type of account used by those who have something to hide. The reality is, offshore bank accounts appeal to a broad client base. But what are the benefits associated with having an
There’s a burst of excitement that every entrepreneur knows. That moment when you are struck with an idea for a new business. It’s a moment of both fear and excitement. Could it work? Has it been done? How big is the market? Is there a sustainable competitive advantage? Once you’ve done your research and reality
Home to many financial institutions, Hong Kong has long been recognised as a prime location for financial services. But amid the anti-government protests in 2019, there has been concern regarding the growth of the city’s economy, slumping Hong Kong into a long recession. While optimists believe the turbulence will subside and banks will recover, others
The economic substance legislation came into effect in January 2019 in the Crown Dependencies and overseas territories. It is designed to protect the reputation of offshore jurisdictions. It does this by ensuring that income streams from certain activities are based on actual local activity in order to substantiate the use of low tax jurisdictions. The
With the national security law China has passed in Hong Kong, banks including HSBC, Standard Chartered and Citigroup have seen a spike in inquiries from Hong Kong residents about opening offshore accounts. “It’s clear that wealthy families across the city are opening offshore accounts in an effort to protect their assets against any uncertainty. Whilst
If you are an artist, designer, photographer or other creative entrepreneur, you will have likely come into contact with intellectual property, whether you know it or not. Intellectual property refers to the creations of the mind that are protected by law, enabling you to earn recognition and benefit financially from your inventions. So, how are
Intellectual property (IP) is the lifeblood of any business. Yet, many entrepreneurs fail to protect it when starting out, only to realise their mistake when it’s too late. “For many start-ups, IP is likely to be more valuable than that of physical assets. They are created using the mind and can come in the form
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