Automatic Exchange of Information: progress report
Within the framework of Monaco’s commitments to the OECD and the European Union, its banks have started making preparations to collect and submit information relating to the accounts of some of their clients, using an internationally accepted standard. At the last “Rendez-Vous Gordon S. Blair”, Gilbert Delacour, associate and Managing Director, delivered a progress report
on the implementation of the automatic exchange of information in Monaco and related practical requirements for banks.
Changes to the international regulatory environment: an opportunity to review and simplify your asset structure
For many years, organising your assets to your advantage often meant a complex legal structure. An “offshore company” is an iconic example of the instruments which banks and asset managers have become familiar with over the last few decades.
Law 214: an original and effective inheritance system
Like many so-called “civil law” countries, the Principality of Monaco applies forced heirship rules. These can be difficult for foreign residents to understand, particularly those from the English-speaking world who have complete freedom over how they dispose of their estates.