STEP ASIA CONFERENCE 20-21 November 2018 GRAND HYATT HOTEL, HONG KONG

www.step.org/asia2018

Programme focus:

DELEGATE FEE

HKD ($)

STEP Members 10,400

Non-Members 11,820

• PRC succession issues

• Blockchain 101 for the private wealth industry

• Protecting today’s wealthy families

• Buying and selling trust and corporate service

providers

• Innovative trust provisions being considered in

more conservative courts

• Family retreats – the way forward?

• US reform – impact on the private wealth

industry

• Who is your client and why does it matter?

• Case review

And much more…

Sponsors include

OVER 450 ATTENDEES FROM 32 COUNTRIES ATTENDED IN 2017

* The welcome drinks reception is included in the delegate fee. All other social functions are charged a separate fee (please see back page for details).

CPD Accredited for 13.5 hours STEP CPD and 11.5 hours CPD for the Hong Kong Law Society.

Language The conference will be presented in English.

KEYNOTE SPEAKERS

Jonathan Midgley Haldanes, Hong Kong

Joseph Chan Acting Secretary for Financial Services and the Treasury, Hong Kong

INVEST SAMOA | Bookman Old Style fontGold Silver +

Memory StickSilver Silver

Bronze Bronze Bronze BronzeBronze + Registration Booth

#STEPAsia

This event has sold out for the past five years and is a must-attend event in the diaries of practitioners around the world – secure your place today to avoid disappointment!

Providing Direction in an Evolving World

STEP ASIA CONFERENCE 2018

STEP ASIA CONFERENCE 2018

STEP Asia returns to Hong Kong at a time which the

private wealth world is at a crossroads. Exchange of

information and regulation on the one hand need

to be balanced with a person’s right to privacy and

confidentiality on the other. International clients

have never been more prevalent with families

frequently having ties – through residence, birth,

marriage or investment- to multiple countries and

multiple systems of law. Good advice has never

been more crucial. STEP Asia 2018 has put together

a varied programme designed to cover as many

relevant issues as the time permits.

We begin with an analysis of certain fundamental

privileges and how the OECD’s initiatives are a

potential threat to this. We then shift to the PRC and

are delighted to welcome 4 practitioners to speak

at the conference. Following this, the digital world

is looked at both from a technology development

perspective and also a security one. The break-out

sessions aim to provide insight into taxation and

other planning concerns for today’s advisers. Day

one concludes with two diverse but topical sessions.

We look at buying and selling of trust companies

and then consider how common offshore structures

may be viewed by onshore courts.

On day 2 we are delighted to welcome a speaker

from the Hong Kong government to give a keynote

and that will be followed by tips and experiences

relating to family retreats. We consider US reform

in the context of private wealth, look at the often-

avoided question of who is the client and then have

our annual case review. The afternoon break-outs

consider a range of topics relating to tax and trusts

and also look at how issues relating to ageing may

affect our industry. We are also delighted to have

speakers from Italy for the first time. We finish by

looking at the impact of community property and

then an interview with a member of one of the

world’s oldest business families.

This conference continues to be a must attend

event in the global calendar and we look forward to

welcoming you to Hong Kong in November.

Richard Grasby TEP

Conference programme committee,

Branch Chair, STEP Hong Kong

Sponsors include

Register online to secure your place at www.step.org/asia2018

INVEST SAMOA | Bookman Old Style fontGold

Social + Charging Station

Bronze

Bronze Bronze BronzeBronze + Registration Booth

Silver + Memory Stick Silver Silver

Exhibitors

Networking International Media Partner

Collaterals Digital

Conference programme

DAY 1: TUESDAY 20 NOVEMBER 2018 Morning Chair: William Ahern TEP, Ahern Lawyers, Hong KongAfternoon Chair: George Hodgson, STEP, UK

MONDAY 19 NOVEMBER 2018 6.00pm Welcome drinks reception

Tiffin Lounge, Grand Hyatt Hotel, Hong KongKindly supported by First Names Group

8.00am Registration and refreshments

Exhibits open

8.45am Welcome from STEP Hong Kong

Richard Grasby TEP, Partner, Charles Russell Speechlys, Hong Kong

8.50am Welcome from STEP Worldwide

Patricia Wass TEP, Chair of STEP Worldwide

9.00am Keynote address: Why these things matter

This address examines the philosophical foundations of the following legal privileges, protections and conventions and argues why we must remain vigilant against attacks on them

• Legal professional privilege• Client confidentiality• The unacceptability of retrospective laws and strict liability

criminal laws/offences that compel us to inform on each otherJonathan Midgley, Haldanes, Hong KongKindly sponsored by Maples Fiduciary

9.30am Panel – Discussion of the keynote in the context of the OECD’s CRS Mandatory Disclosure Rules

Moderator: William Ahern TEP, Ahern Lawyers , Hong KongZac Lucas TEP, Centenal Legal Technology Group, Singapore David Russell QC TEP, Outer Temple Chambers, UAE

10.15am PRC succession issues

• The complexities of Chinese intestacies and contested wills• Common mistakes in Chinese will preparation and execution • How Chinese and non-Chinese citizens can succeed to

Chinese assets• Latest developments in China’s trust lawModerator: Richard Grasby TEP, Charles Russell Speechlys, Hong Kong Chen Han, Han Kun Law Offices, PRC Joyce Huang, Fangda Partners, PRC Echo Zhao, Beijing Anjie Law Firm, PRC

11.00am Networking and refreshments

11.30am Blockchain 101 for the private wealth industry

• The history and ethos of Blockchain, where it came from and where it might be headed

• Blockchain Technologies explained simply• Blockchain market structure, risks and opportunitiesModerator: David Chong TEP, Portcullis Group, SingaporeMatthew Cannon, Lightbulb Capital, SingaporeKeith Barrett Carter, National University of Singapore, School of Computing, Singapore

12.15pm Protecting today’s wealthy families

• How to stay Cyber-safe • Protecting your digital identity • Implement prevention techniques to safeguard your IoT

(Internet of things) • Assessing risks in the following areas, home /office; life style;

and travelRichard Stagg, Handshake Networking Ltd, Hong Kong Robert Youill, Hill & Associates Ltd, Hong Kong

1.00pm Networking lunch

Kindly sponsored by WE ARE GUERNSEY

2.00pm Specialist topics

Option 1: Political risk planning: Issues to consider with assets in unstable jurisdictions

• What are investment treaties and how can they be used to manage political risk in investment structures?

• How can you use investment treaty arbitration to recover damages arising from political risk?

• How can you use third-party funding to cover your legal costs?Hussein Haeri, Withers LLP, UK Cheng-Yee Khong, IMF Bentham, Hong KongKindly sponsored by Invest Samoa

Option 2: How to avoid double taxation? Tax treaty 101

• How DTAs and unilateral relief allocate taxing rights• The impact of BEPS on the DTA model of international taxation• Hong Kong’s territorial tax system within the DTA framework

and its impact on its role as an international financial centreStefano Mariani TEP, Deacons, Hong Kong Steven Sieker TEP, Baker & McKenzie, Hong KongKindly sponsored by IPG

Option 3: UK Tax update - ten trips and traps

• Deemed domicile rules – tainting and other issues to watch • Onward gifting rules – planning points• UK residential & commercial property – inheritance tax &

capital gains taxNicholas Jacob TEP, Forsters LLP, UK Peter Vaines TEP, Field Court Tax Chambers, UKKindly sponsored by WE ARE GUERNSEY

Option 4: Trustees/executors and digital assets

• Dealing with the digital estate: - Setting up workflows for digital estate planning - Administrating digital estates where there has been

insufficient pre-death planning• Crypto assets: advising on and dealing with them as trust or

estate assets• The latest issues with digital assetsLouise Lewis TEP, Penningtons Manches LLP, UK Leigh Sagar TEP, New Square Chambers, UKKindly sponsored by Jersey Finance

2.45pm Change rooms for next specialist sessions

2.50pm Specialist topics repeated – options as listed above

3.35pm Networking and refreshments

4.05pm Buying and selling trust and corporate service providers

• Motivations and expectations of buyers and sellers• Key elements of a deal’s negotiation and conclusion• Post closure issues for all partiesModerator: Michael Olesnicky TEP, KPMG, Hong KongStephen Breed, Tenzing Investments (Pte) Ltd, Singapore Martin Crawford, Vistra Group, Hong Kong

4.45pm Innovative trust provisions being considered in more conservative courts • Reserved powers to settlors – the Pugachev decision• The attitude of family courts to offshore structures and firewalls• Information restrictions in offshore trusts, how these are

received in onshore jurisdictions, and ways round them • Mistakes, rectification and variation of trusts – offshore vs

onshore focusJonathan Hilliard QC, Wilberforce Chambers, UK Graeme Kleiner TEP, Charles Russell Speechlys, UK

5.30pm Day one closing address

George Hodgson, STEP, UK

6.30pm Cocktail dinner party

Club Albergue 1601, Shop 1105, 11/F, Times Square, Causeway Bay

Social + Charging Station

STEP ASIA CONFERENCE 2018

DAY 2: WEDNESDAY 21 NOVEMBER 2018Morning Chair: Richard Grasby TEP, Charles Russell Speechlys, Hong Kong Afternoon Chair: Michael Olesnicky TEP, KPMG, Hong Kong

8.00am Welcome refreshments

Exhibits open8.10am Briefing in association with WE ARE GUERNSEY

The evolution of the Trust law in Guernsey; Proposals for law reformMuch of Guernsey’s economic success over the past 50 years or so has been largely due to its adaptability and flexibility to react to changing market situations and conditions. This briefing will look at current proposals to reform the Trusts (Guernsey) Law, 2007. We were also one of the first jurisdictions to regulate the provision of trust services nearly 20 years ago. We will consider what life is like for trustees operating in a regulated environment in order to give trustees facing regulation for the first time an idea of the sort of issues that they may experience.Russell Clark, Carey Olsen, Guernsey C.I

8.50am Welcome address

Richard Grasby TEP, Charles Russell Speechlys, Hong Kong

9.00am Keynote address: The state of private wealth management in Hong Kong

Mr Chan will discuss his vision for the continued development of private wealth management in Hong Kong.Joseph Chan, Acting Secretary for Financial Services and the Treasury, Hong Kong

9.15am Family retreats – the way forward?

• The imperatives for families and the advisor’s role• Design elements for success• Optimal processes to achieve transformative breakthroughs• How advisors can exceed clients expectations and charge accordingly

Philip Marcovici TEP, Offices of Philip Marcovici, Hong Kong

10.15am US reform – impact on the private wealth industry

• Issues with the temporary estate tax exemption increase• Changes to the income tax rules, the taxation of offshore holdings,

and rules impacting multinational individuals and businesses• Planning for non-resident aliens, US persons, individuals

considering expatriating from the USJennifer Jordan McCall TEP, Pillsbury Law, USA Kurt G Rademacher TEP, Butler Snow LLP, Hong Kong/Singapore Erik Wallace TEP, Stephenson Harwood, Hong Kong

11.00am Networking and refreshments

11.30am Who is your client and why does it matter?

• Who has legal privilege, how to get it, and how to lose it• Avoiding conflicts as an advisor to trustees, settlors, beneficiaries

and different family members• Acting for beneficiaries in replacing trustees• The need for separate adviceModerator: Paul Hodgson TEP, Butterfield Trust (Guernsey) Ltd, Guernsey C.ISamantha Bradley TEP, Sir Elly Kadoorie & Sons Ltd, Hong KongSally Edwards TEP, Ogier, Jersey C.INisha Singh TEP, HSBC, Singapore

12.15pm Case review

In this lively session the panel members will examine the most important recent cases from around the world, including those hot off the press.Moderator: Shân Warnock-Smith QC TEP, ICT Chambers and 5 Stone Buildings, Cayman/London Edmund Leow SC TEP, Dentons Rodyk & Davidson LLP, SingaporeZiva Robertson TEP, McDermott Will & Emery UK LLP, UK

1.00pm Networking lunch

2.00pm Specialist topics

Option 1: What to do when a foreign grantor dies and the foreign trust has US beneficiaries? The grantor is terminally ill with a month to live, and the trustee has asked the following:• Are there any pre-death actions to take?• After death, what planning should be considered? - New Tax Laws? - Interplay with Foreign Estate?• Changes for US beneficiaries going forward?• Changes for trustee going forward?Moderator: Todd Beutler TEP, BMT International, Hong KongM. Katharine Davidson TEP, Henderson, Caverly & Pum LLP, USAFabiola Suwanto TEP, Perkins Coie LLP, PRCKindly sponsored by Lombard International

Option 2: Changing trustees – who is entitled to what?

• Practical and legal points for outgoing trustees• Practical and legal points for incoming trustees• Case studies including judgments showing good and bad

outcomes for outgoing and incoming trusteesJoanna Caen TEP, Herbert Smith Freehills, Hong Kong Melanie Ison TEP, Nerine Trust Company, Hong KongKindly sponsored by Cook Islands Financial Services Development Authority

Option 3: Issues relating to an ageing populationA leading private bank study found that nearly 60% of HNWIs in Hong Kong now believe they will live to 100 and many believe retiring later is good for health. This suggests that inter-generational transfer of wealth may only take place when the second-generation family members are well into their 40s to 60s. Just how prepared are HNW families in Asia when dealing with aging patriarch/matriarch issues and how can practitioners help HNW families plan better? Thelma Kwan TEP, Barrister-at-Law, Hong KongWai Soon Lum TEP, UBS Group AG, Hong Kong Kindly sponsored by BDO

Option 4: Italy the new UK

• The Italian forfait tax regime for HNWIs moving to Italy• The 100k Euro tax on foreign-source income and gains• The exemption of foreign assets from wealth taxes and

inheritance and gift tax• Entry visas, including the new investor visaNicola Saccardo TEP, Maisto e Associati, Italy Raul-Angelo Papotti TEP, Chiomenti, ItalyKindly sponsored by Touchstone

2.45pm Change rooms for next specialist sessions

2.50pm Specialist topics repeated – options as listed above

3.35pm Networking and refreshments

4.05pm Clients from Asian community property jurisdictions

• Impact of Community Property law in Asia• How important are continuing residence, nationality or domicile

to retaining matrimonial domicile in home jurisdiction• Relevance of community property to Asian trust and estate

planning and typical litigation risks of overlooking itChair: Paul Stibbard TEP, Rothschild Trust, UK Andrew De La Rosa, ICT Chambers, Cayman IslandsMichael H. Shikuma TEP, Shikuma Law Office, Japan Ningning Zhao, Jincheng Tongda & Neal Law Firm, PRC

4.45pm Interview with HSH Prince Michael of Liechtenstein

Prince Michael traces his family history through roughly 36 generations of wars, expropriations and other calamities large and small. He identifies key factors in this great story of survival and prosperity and elucidates his approach for long-term and trans-generational wealth preservation.Interviewer: William Ahern TEP, Ahern Lawyers , Hong Kong

5.30pm Final remarks and close

Michael Olesnicky TEP, KPMG, Hong Kong

6.30pm Farewell reception and BBQ dinner

The Pool House & Grill, Grand Hyatt Hotel, Hong Kong

Register online to secure your place at www.step.org/asia2018

STEP ASIA CONFERENCE 2018

Last years’ conference sold out, so book early to secure your place!

Network with 450+ leading private client practitioners

The STEP Asia Conference attracts delegates from all over the world; in 2017 the 2-day event attracted practitioners from 32 jurisdictions worldwide. As well as a topical programme to support your business needs this conference offers exceptional networking opportunities with your peers.

Last year’s attendees included representatives from the following firms:Alpadis Group, Asiaciti Trust, BDO Limited, Charles Russell Speechlys, Credit Suisse Trust, Deutsche Bank, Eiger, Fiduciary Trust Company International, HSBC, International Planning Group, IPG Financial Services Pte. Ltd., J.P. Morgan, Jardine Lloyd Thompson PCS, KPMG, Nerine Trust Company (HK) Ltd, Rawlinson & Hunter, RBC Wealth Management, Rothschild Trust, Royal Bank of Canada Trust Company (Asia) Limited, Sir Elly Kadoorie & Sons Ltd, Trident Trust Company (HK) Ltd, UBS AG, Vistra,

Withers, Zhong Lun Law Firm

Previous attendees said:

“ Excellent conference, with exceptional thought-provoking speakers, logistics was seamless and extremely professional.”

“ Good topics & interesting speakers. Good networking event.”

“ A very good and useful event. Looking forward to next year’s event!”

“ Excellent for networking; the presentations were very variable.”

Register online at www.step.org/asia2018

Social functions include:• Welcome drinks reception

19 November 2018, 6pm Tiffin Lounge, Grand Hyatt

• Cocktail dinner party 20 November 2018, 6.30pm Club Albergue 1601

• Farewell drinks reception and BBQ dinner

21 November 2018, 6.30pm The Grill and Pool House, Grand Hyatt

STEP UP YOUR CAREER WITH ONE OF OUR DISTANCE-LEARNING QUALIFICATIONS:

Advanced Certificate in UK Tax for International Clients

Advanced Certificate in Trust Disputes

Certificate in Foundations

Find out more at www.step.org/qualifications/dl

YOU MAY ALSO BE INTERESTED IN: THE 4TH INTERNATIONAL CONFERENCE ON PRIVATE CAPITAL AND INTERGENERATIONAL WEALTH (PCIW-2018)

22 November 2018University of Hong Kong,

Hong Kong

A STEP ACADEMIC COMMUNITY CONFERENCE

We invite scholars and practitioners from all countries and disciplines including law, business and social sciences to submit a full paper for this year’s conference on the following themes:

• Diminished Capacity and Undue Influence – Managing these risks in trust and estate administration

• Elder financial abuse – Protecting the assets, rights and wishes of the vulnerable

• Business Succession – Issues and challenges for this and the next generation

In addition to the conference themes we encourage submissions of papers in:

• Family business and succession

• Estate planning and estate administration

• Trusts and inheritance

• Closely held businesses and family fiscal enterprises in multiple jurisdictions

• Cross-border recognition of trusts, wills and succession arrangements

• Taxation arrangements involving trusts and wills

• Longevity, mental capacity and ageing

• Technology, incapacity and death

DELEGATE PRICE:

AC Members: 400 HKD

STEP Members: 450 HKD

Non Members: 550 HKD

Find out more and register to attend this event at www.step.org/pciw2018

STEP ASIA CONFERENCE 20-21 NOVEMBER 2018

Register online to secure your place at www.step.org/asia2018

Save the DateThe 2019 STEP Asia Conference will take place on 5-6 November 2019 at the Marina Bay Sands, Singapore. Add the date to your diary!

View all STEP events at www.step.org /events

ABOUT STEPSTEP is the worldwide professional association for those advising families across generations. We promote best

practice, professional integrity and education to our members. Our members help families plan for their futures:

from drafting a will or advising family businesses, to helping international families and protecting vulnerable family

members. Today we have 20,000 Members across 96 countries. They include lawyers, accountants and other trust

and estate specialists.

For more information about STEP visit www.step.org or email step@step.org For any queries please contact the conference team on +44 (0)20 3752 3700 or email conferences@step.org

Speaker biographies can be found at www.step.org/asia2018

Networking social events include:Welcome drinks reception at the Tiffin Lounge, Grand HyattKindly supported by First Names Group

Operating since 1989 when Grand Hyatt Hong Kong first opened its doors, Tiffin is a legendry

destination for sophisticated, innovative dining. Enjoy drinks and canapés along with your fellow

delegates prior to the opening of the 2018 Asia Conference.

The Welcome drinks reception is included in the delegate fee. You can bring along a guest for HKD 1,150

Cocktail dinner party at Club Albergue 1601Located in Times Square, Club Albergue 1601 offers an impressive balcony space where guests can

soak in the city views and the hustle and bustle of Causeway Bay. Mingle and network with fellow

guests while enjoying some delicious food and cocktails after the opening day of the Conference.

Fees: HKD 1,150

Farewell drinks reception and BBQ dinner at The Grill and Pool House, Grand Hyatt The Conference will close with a drinks reception and BBQ buffet in the lush garden of The Pool House

Grill where you will be able to enjoy alfresco dining next to the pool overlooking Victoria Harbour.

A perfect way to relax after a busy two days of learning and networking.

Fees: HKD 1,150