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UBS vs US Landmark Court Case Signals Concern on Offshore Banki

Category: Real estate, Posted:21 Jul 2009 | 09:14 am

Ongoing litigation between wealth management giant UBS and the US Justice Department who are demanding the Swiss institution release data on 52,000 names of US taxpayers holding offshore accounts is set to become a landmark legal case. Tax avoidance remains the issue and if UBS ultimately releases the information it sets a president for a multitude of other overseas banks who cater to high end private banking such as HSBC will be in a position to comply.
The US Government is taking a hard line on offshore sheltering of wealth both through this and spearheading a drive with the UK though the OECD in effectively shutting down offshore tax free havens. Singapore in the past few years has become a global leader in wealth management offering little transparency in terms of foreign residents holding account; though this looks to be under international scrutiny back of the OECD and money laundering concerns.
In Phuket a large portion of high end real estate is held by foreign nationals or controlled by tax haven offshore entities such as the BVI. Many industry watchers are eyes these issues with interest to view an impact on the struggling property market.

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Cambodia Business Briefing – What Comes Next?

Category: Hotels|Real estate|Tourism, Posted:19 Oct 2021 | 08:13 am Hotels, tourism, and real estate are featured in next week’s virtual event – Cambodia Business Briefing. Organized by C9 Hotelworks and Delivering Asia Communications, the session will be on Tuesday 26th October, 3:00 pm Phnom Penh/Bangkok Time | 4:00 pm Singapore/Hong Kong. Cambodia remains one of Asia’s top-up and coming marketplaces. Pre-pandemic, its pace of […]
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PHIST 2021 – Sustainable Asia RE-defined Coming 28 October

Category: Hotels, Posted:11 Oct 2021 | 09:11 am The fourth annual Asian-based sustainability-focused learning event PHIST 2021 will take place in a dynamic virtual setting on 28th October. Organized in Phuket, Thailand with speakers from across the region. PHIST (Phuket Hotels for Islands Sustaining Tourism) has established itself as a leading forum in Asia for sustainable tourism, environmental education for hotels as well […]
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Lonely Planet. Ultimate Vacation Homes. More Phuket Meds

Category: Tourism, Posted:07 Oct 2021 | 21:02 pm It’s Friday and we have a trio of video insights for you. Listen to an intriguing talk with Joe Cummings who is behind the first Lonely Planet Thailand guidebooks. Hear seven short real estate talks on the latest trends. And then, how is Thanyapura looking to expand their medical footprint across Phuket. Right here. Right […]