Konstantin Ziyatdinov Spoke at WealthPRO Saint Petersburg Conference

WealthPro conference (organized by Bosco Conference) took place in Saint Petersburg in October. The conference was dedicated to different aspects of tax planning in different jurisdictions, investments and effective methods of wealth management.

Konstantin Ziyatdinov, head of the Prime Advice Department of International Projects, gave a presentation on measures of deoffshorization of the Russian economy where he spoke about the concepts of a “beneficary owner” and “tax residency,” as well as about new OECD standards on automated exchange of financial information between countries. Mr. Ziyatdinov stressed that the businesses need to prepare for further development of the situation, taking into account the possible consequences of deoffshorization. “Safe” jurisdictions (e.g. Singapore and Cyprus) and prudent offshore structuring will help in reducing tax risks.