As the global governmental environment evolves, the tax issues faced by high-net-worth, high-asset individuals and entrepreneurs are becoming increasingly complex. To help everyone better manage their tax residency status and handle cross-border business remittances, KVB Kunlun International and KPMG jointly held the "Tax Residency and Cross-Border Remittance Online Seminar" on December 14. The seminar was conducted online, with numerous high-net-worth, high-asset clients invited to attend.

The seminar featured an impressive lineup of guests. In addition to Xu Chen, General Manager of KVB Kunlun International's Hong Kong Region, serving as the host, the panel included Karmen Yeung, Partner and Head of Private and Family Business Services at KPMG China—one of the world's Big Four accounting firms—Jessica Wang, Private and Family Business Tax Partner at KPMG China, and Pang Xiaozhuo, Head of Foreign Exchange Solutions and Client Services at KVB Kunlun International, who shared insights and held discussions on tax residency status and cross-border remittances.

The seminar, which lasted just over an hour, encompassed both professional knowledge presentations and discussion sessions. Kicking things off, the KPMG guests shared key points on managing tax residency status, using various case studies to give everyone an accessible understanding of the criteria for determining dual tax residency status and the potential tax risks involved. For example, when high-net-worth, high-asset individuals are simultaneously deemed local tax residents by two jurisdictions' tax authorities, the "tie-breaker rules" under international tax law can be applied to determine their final tax residency status.

In the second half, KVB's remittance experts presented case studies on cross-border remittances tailored to high-net-worth, high-asset individuals. As anti-money laundering laws around the world become increasingly stringent, whether investing in overseas property or setting up a family trust, choosing a legal and compliant financial institution to handle large remittances is the only way to truly safeguard the security of your funds. Having served clients worldwide for over 20 years, KVB Kunlun International not only holds financial licenses issued by multiple countries but has also established partnerships with banking institutions in various regions, including DBS, BNZ, ANZ, Banking Circle, and UnionPay, to help high-net-worth, high-asset clients transfer funds around the world simply, quickly, and securely. To learn how high-net-worth, high-asset clients can address tax and remittance matters, review the seminar content here.