Destination USA or the Roundtrip Experience for some!
First 15-20 minutes is for networking Sandwiches & beverages included Hosted by the Law Committee This is a unique opportunity to listen to a panel of experts that advise clients around the globe. Their focus for this program: Immigration and tax law conflicts facing foreign executives and entrepreneurs and investors in Asia contemplating relocation to the United States. In particular, EB5, L-1 and H - 1B visas for immigrants moving to the U.S. with existing wealth, face an increasingly complex and hostile tax environment where residents face worldwide taxation and reporting requirements. Penalties for noncompliance related to foreign bank accounts can result in a penalty of 300% of the amounts not reported. In 2009 the IRS rolled out its first voluntary compliance program for green card residents and citizens that failed to report their foreign accounts. Rather than face the potential penalties, many of these now affected residents and citizens are contemplating giving up their U.S.
passports and green cards. They are faced with tax and immigration concerns including: - How to avoid huge penalties related to FATCA and FBAR disclosure requirements? - How does this impact my future travel to the U.S.? - Can I live outside the U.S., file nonresident returns, and still keep my green card? - What pre-departure strategies for tax and immigration should be considered Case studies will be discussed including: - Strategies for dealing with the IRS re: FBAR penalties - Whether to delay getting a green card if you're moving to the U.S. - Pre-arrival tax strategies involving U.S. and foreign estate planning - For green card holders living in Hong Kong, what are my immigration and tax risks? The panel will be able to update the attendees on the post-election tax changes that will likely come into effect and whether you should sell or gift your U.S. real estate to your next generation.
The American Chamber of Commerce in HK 1904 Bank of America Tower 12 Harcourt Road Central, Hong Kong