Recovering small shareholdings is becoming very expensive and uneconomic. In a recent case we have been able to have such small shareholdings donated to a local Hong Kong Children’s Charity, and so not all is lost. We do however strongly advise that if your client has shares in Hong Kong Companies your client transfers them into a Broker’s Nominee System. …
Missing Shares Certificates
Do You Have Any Missing Shares Certificates? You should note that if any share certificate was issued and it has been lost, then the share registrars will need an indemnity from you based upon the value of the shares. You will have to pay an insurance premium to the share registrars (or their nominated insurer/ indemnifier) which may be in …
In direct contact with the US Share registrars
Are You Dealing Directly with US Share Registrars? If you are dealing directly with the share registrars in the USA, you may care to note that on many occasions they have a time limit within which the Certified Copy of the Probate/Confirmation must be dated – usually somewhere between 45-60 days before being submitted to the US Registrars. …
US Shareholdings in excess of US $60,000
Do You Own US Shareholdings in Excess of US $60,000? The rise in the US stock market since 2009 has resulted in many estates having US shareholdings which exceed the limit of US $60,000 and this entails the filing of Form 706-NA and other related Forms. This ensures that the US IRS recovers US Estate Taxes when due, but underthe US/UK Double …
US Format Dates When Filling a Document
When Filling a Document Take caution with US Format Dates It is most important that all documents for filing in the USA be left undated as in the USA the month-day-year method of dating is used. If the correct dates are not used, documents may be returned for correction and may even need another expensive Medallion Guarantee. We prefer …
Transferring Zimbabwean Shares
Thinking of transfering Zimbabwean shares? By experience we know that it is currently impossible to transfer Zimbabwean shares to an executor or beneficiaries. We therefore advise clients to again have all the shares owned through a foreign corporation. The only course of action at this time is to write off the shares and take a tax deduction; knowing that if …
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