Overview

This is Unit 7 of the "Trust Training Certificate" ("TTC") (version 2.0) training programme.

It consists of the following module:
Module 13: International Comparison of Trusts

For details on the topics to be covered, please refer to the 'Content' section below.

If you wish to register for the full TTC (version 2.0) Part A training programme and examination, click here.

Objective

On completion of the course, learners will gain awareness of the key differences between various types of trusts across jurisdictions, with a focus on Hong Kong, BVI, Channel Islands, Cayman Islands, Singapore, and PRC.

Content

Module 13: International Comparison of Trusts:
1. Whether initial capital is required to create a valid trust
2. Validity of a trust and whether the trust can be for persons and purposes
3. Continuity of a trust
4. Asset protection
5. Non-enforcement of foreign judgments – anti-forced heirship
6. The office, role and powers of a protector
7. Reserved powers to the settlor and other relevant party (IES)
8. Protective trusts
9. Charitable trusts
10. A special type of trust – vista type trusts
11. Trust combined with a limited partnership
12. Application of the statutory duty of care
13. Aspects of trustees’ powers
14. Trustees’ duties
15. Liability and protection of trustees
16. Provision of information
17. Jurisdictions with a foreign trust regime
18. General anti-avoidance rules (“GAAR”) for taxation
19. Specific anti-avoidance rules (“SAAR”) for taxation
20. Jurisdictions which provide special types of trust which may legally mitigate tax

Who should attend

This course is primarily designed for individuals who are interested in obtaining the "Trust Training Certificate" to qualify for the Hong Kong Trustees' Association Certified Trust Practitioner™ designation.

It is also relevant for individuals seeking a comprehensive understanding of the course subject matter and those planning to enter the Trust industry sector.

Financial Incentive Scheme of the WAM Pilot Programme

This course has already been approved as an eligible course of the Financial Incentive Scheme for Professional Training (“the Scheme”) under the Pilot Programme to Enhance Talent Training for the Asset and Wealth Management Sector (“the Pilot Programme”). The Scheme aims to enhance the competency and professionalism of in-service practitioners within the asset and wealth management sector and to assist other practitioners within the financial services industry in acquiring the knowledge and skills required for entering the sector. Eligible applicants will be subsidised 80% of the course fees by the HKSAR Government upon satisfactory completion of the courses approved by Hong Kong Securities and Investment Institute, subject to a ceiling of HK$15,000. Hong Kong Securities and Investment Institute is appointed as the implementation agent of the Pilot Programme. Regarding the details of eligible criteria and application procedures, please refer to the dedicated web-site of the Pilot Programme (https://www.wamtalent.org.hk/).