The act of sending assets outside one’s home country to safe and secure foreign jurisdictions has long been used by people around the world. Recent reports, “Hong Kong’s Rich Open More Offshore Accounts as Backup Plan, Bankers Say” (Bloomberg News, November 21, 2019), and “Hong Kong’s Rich Open Foreign Bank Accounts Amid Unrest” (Financial Times, October 16, 2019) refer to residents of Hong Kong opening foreign accounts as a reaction to violent protests and political uncertainty. The level of interest in offshore asset protection by our U.S. clients seems to peak during each presidential election cycle and financial crisis, following rising doubts about government, banks and Wall Street.
We understand the concerns of residents of Hong Kong and China alike, as well as others around the world who look for safety and security for their assets amidst political, social and economic turbulence. We have assisted many people in achieving asset protection in jurisdictions that offer economic and political stability and strong banking laws. Our clients also include American expatriates living in Hong Kong and China, as well as newer generations of Chinese now living and amassing assets throughout the world. Please contact us to discuss how we can assist your international asset protection needs.
Please also visit our Guide to Offshore Asset Protection.