From 1 March 2022, Russian business owners will be able to transfer business and personal assets worth at least RUB 100 million to new private foundations established under Russian law. As opposed to inheritance foundations, which have not caught on in Russia, private foundations can be established and tested during the lifetime of their founders.

Welcome to our first quarter issue of the Private Wealth Newsletter. Our featured insight for this issue is a discussion of the passage of the Corporate Transparency Act by the United States to introduce federally-mandated beneficial ownership reporting obligations for US corporations and limited liability companies. We also include insights…

Baker McKenzie’s EMEA Tax Practice Group presented an overview on “Wealth Management” on 7 July 2020, the fourth in a series of short webinars to keep tax professionals abreast of recent developments in these less than certain times.

From 1 January 2020 Russia is abolishing all currency control restrictions on payment of funds by non-residents to bank accounts of Russian residents opened with banks in OECD or FATF member states, provided that such states participate in the automatic exchange of financial account information with Russia. This will mark…