Vice Chair Patrick Yip spoke at Mediate First Pledge Event 2021 by DoJ

Vice Chair of Deloitte China Patrick Yip was invited to speak on a private wealth panel at the Mediate First Pledge Event 2021 organized by the Department of Justice (DoJ) of Hong Kong on 28 May 2021. The Honorable Teresa Cheng, GBS, SC, JP, Secretary of Justice, Hong Kong opened the event with her keynote speech, followed by speeches by Melissa K. Pang, BBS, MH, JP, President of The Law Society of Hong Kong and Stephen Philips, Director-General of InvestHK. More than 1,300 participants from various sectors of 14 jurisdictions attended the event.

Patrick presented the topic on 'Tax and Asset Protection Considerations for the Multi-jurisdictional Family' and pinpointed the taxation system and tax rates in major jurisdictions including U.S., China and HK. He explained the general tax rules of tax residency in major jurisdictions and illustrated the impact of FATCA & CRS requirements on high-net-worth individuals as well as some possible offshore family trust arrangements for high-net-worth individual and their families.

This event has brought together professionals with different areas of expertise to share their views and experiences. The overwhelming support from the participants and new pledges signed to affirm their commitment to first explore the use of meditation to resolve disputes in their areas of business dealings and operations, is very encouraging.

This event video is available at the MFP 2021 website for you to revisit the insightful sharing of other distinguished speakers.