Asia update - November 2019

13 November 2019

Here is the latest update from Asia Representatives Wendy Weng & Dorothy Kwok

You may have been at our BD update at the OGH in Guernsey in October and heard from Dorothy and Wendy as they shared what has been happening in Shanghai and Hong Kong and their plans for the next year. There were also presentations from HSBC and a potential client for Guernsey’s captive industry – now that client has confirmed to set up a Protected Cell Company in Guernsey and is in the process of Due Diligence and Know Your Client. Besides their presentations, Dorothy and Wendy were invited to The Guernsey Association of Trustees lunch event and had meetings with banks, trustees, lawyers and some professionals.

Before her trip to Guernsey, Dorothy attended the Hong Kong Quality Assurance Agency’s 30th Anniversary Forum. During the forum, HKQAA collaborated with JETCO to facilitate the development of an open banking ecosystem in accordance with Hong Kong Monetary Authority’s strategy of smart banking. It aims to strike a good balance between innovation and cybersecurity risk in the FinTech industry. They believe this cooperation will enhance sustainable development and technological innovation in the construction and banking sectors.

She was due to be part of a lunch in Hong Kong to discuss Guernsey Foundations and relocation, but this has now been rearranged for April due to the protests in Hong Kong, which were covered in her presentation in Guernsey. The lunch will follow an in-house presentation in China in March with a representative of Ogier.

ARM Managing Director Charles Scott is visiting China again at the end of this month to follow up with the contacts he has built up over the last three years.

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