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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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Banyan Tree Phuket Launching New Oceanview Branded Residences

Category: Real estate, Posted:10 Nov 2022 | 12:20 pm Phuket’s Banyan Tree is rolling out two new products under their Grand Residences estate. Ten premium oceanview villas are priced in the THB100-150 million range and 40 seaview condominiums with median pricing of THB85 million. Located within the Laguna Phuket integrated destination resort, the group is expected to bring more real estate products to the […]
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Mind the Gap – Keep People Inspired Event in November

Category: Hotels|Tourism, Posted:22 Oct 2022 | 08:50 am Keep People Inspired (KPI) is the second in a series of Mind the Gap Learning events. The focus of the event is on inclusiveness in hospitality, spanning Phuket’s hotels, tourism and service industries. Inclusiveness is a key element of businesses that rely heavily on human resources and is in effect all about people, whether they […]
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Japanese Luxury Brand Hoshinoya Heads To Niseko

Category: Hotels|Real estate, Posted:14 Oct 2022 | 17:42 pm Leading Japanese hotel operator Hoshino has inked a deal for a luxury resort in Niseko with developer Zekkei Properties. Located in a prime ski-in and ski-out location in Upper Hirafu Village, the 62-unit hotel and residence property will be named Hoshinoya Lodge Niseko. With one of Hirafu’s best locations, the site was formerly occupied by […]
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