International Private Client

• Free ports enable ultra-high-net-worth individuals to store, trade and transport assets, including artwork, with benefits of security, favorable tax and customs regulations and, often, privacy.
• However, free ports cannot mitigate threats to assets when authorities make allegations of misconduct and issue freezing or seizure orders.
• With a free port in Dubai under construction, UHNWIs and their advisors should contemplate proactive steps to protect their global portfolios.

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• A new law criminalizing the demanding or receipt of payments from U.S. individuals or entities gives the U.S. Department of Justice new tools to extend its targeting of non-U.S. individuals in corruption investigations.
• This puts politically connected individuals at risk of becoming subject to aggressive U.S. investigations, initiated by politically motivated domestic rivals.
• At-risk individuals should take proactive steps to protect their reputations, assets and liberty.

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• The United Kingdom is pushing its overseas territories, including offshore centers such as the British Virgin Islands and Cayman Islands, to publicly identify ultimate beneficial owners of corporate structures.
• This loss of privacy for ultra-high-net-worth individuals with legitimate needs could see their reputations and interests threatened by unwarranted scrutiny.
• Proper preparation can help individuals and their advisors to not only limit potential damage, but also allow them to react expediently if a crisis arises.

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• The new administration of Javier Milei in Argentina marks a shift away from the political establishment, with his promises to purge the “political caste.”
• Politically exposed persons may be at risk – new authorities around the world often engage in politically motivated investigations.
• At-risk individuals and businesses should take proactive steps to protect their assets, liberty and reputation.

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• The U.S. Department of Justice is continuing to extend its long arm jurisdiction into aggressively scrutinizing individuals in Latin America.
• Many targets may become embroiled in what can be overstated allegations, threatening their assets, liberty and reputation.
• Targets need to work with cross-border counsel knowledgeable in the DOJ’s tactics to push back as early as possible.

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• As governments increasingly use sanctions as a geopolitical tool, ultra-high-net-worth individuals – including those with connections to Cyprus – are at risk.
• Cypriot officials and financial institutions have already taken steps to target certain individuals, even those who are not sanctioned.
• We explain pre-emptive steps at-risk individuals and their advisors can take to mitigate the risks and protect themselves.

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• Cross-border disputes involving ultra-high-net-worth individuals (UHNWIs) can often turn personal.
• Commercial counterparties may try to make the UHNWI individually liable, putting their personal assets at risk.
• However, if there is a connection to Delaware, UHNWIs can leverage the favorable tools available in the jurisdiction to resolve disputes in their favor.

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