Compliance, Legislative & Regulatory Standards

Trust Training Certificate (TTC) - Unit 17: Trusts and Issues for PRC Nationals (8th/9th Cohort)

Overview

This eCourse will be accessible until 8 June 2024.

This is Unit 17 of the training programme in pursuing the “Trust Training Certificate”.

This eCourse is developed based on the recorded webinar session of Unit 17 held on 2 June 2021. Please note that the study guide and materials for this eCourse align with those supplied for the June 2024 TTC Part B Examination through the enrolment link, both reflecting the April 2021 version.

It consists of one module – Module 26: Trusts and Issues for PRC Nationals.

Objective

On completion of the course, you will:
1. Understand how PRC trust law compares with trust law in common law jurisdictions
2. Understand the reasons why Chinese clients wish to make foreign trusts and the types of trust which they require
3. Be aware of and list the challenges of compliance for Chinese clients
4. Be able to explain the consequences of dual nationality of Chinese clients with regard to trusts and assets
5. Understand how Chinese taxation specifically impacts Chinese clients as Settlors and as Beneficiaries

Content

Module 26: Trusts and Issues for PRC Nationals
1. PRC trusts compared with common law trusts
2. Types of trusts required (family, business succession, Pre-IPO, dual family, etc.)
3. Challenges of compliance requirements, e.g. KYC, AML, SOF, etc.
4. Special issues of dual nationality and consequences
5. US foreign grantor trusts and Canada trusts
6. Trusts and PRC nationals – onshore versus offshore PRC trusts and compliance considerations
7. Overview of tax provisions:
(a) PRC nationals as settlors and beneficiaries
(b) PRC settlors with US beneficiaries

Who should attend

The course is primarily targeted to those who would like to pursue “Trust Training Certificate” in order to apply for the Hong Kong Trustees’ Association Certified Trust Practitioner™ designation.

It is also relevant to those who would like to gain a solid understanding of the course subject matter and / or those who plan to enter the Trust industry sector.

Details

Code
TERCR24021401
Venue
ePlatform
Relevant Subject
Regulatory Compliance
Language
English
Level
Introductory
Hours
SFC:3.00, PWMA:3.00, HKTA:3.00

Click here if you wish to register for full Part B Stream 1 training programme and examination.

Click here if you wish to register for full Part B Stream 2 training programme and examination.