Private Client

Our global Private Client team is top-ranked by The Legal 500 and Chambers:  
Tier 1 in Personal Tax, Trusts and Probate and Contentious Trusts 
and Probate by The Legal 500 and Band 2 by Chambers and Partners

WHAT WE DO/ SPECIFIC AREAS OF FOCUS

Our global Private Client team advises Russian and international high and ultra-high net worth individuals and their families on all matters affecting their business, personal and family wealth, as well as the institutions entrusted with effectively managing that wealth. 

In Russia, we focus on helping high and ultra-high net worth individuals of Russian origin and with an international presence and work together seamlessly across our global network to deliver to our clients, many of whom have complex affairs in multiple jurisdictions, advice tailored to their needs, objectives, values and future plans. 

The Legal 500 2019

Bryan Cave Leighton Paisner (Russia) LLP advises beneficiaries and high-net-worth clients on corporate restructuring, immigration and family law matters. Evgeny Timofeev heads the team, which includes Anna Zelenskaya.

Each of those exacting clients have relied on our expert team of lawyers to take care of the fine details of cross-border tax, property investment, trusts and foundations, dispute resolution, long-term succession plans, risks to privacy, and many other issues facing them and their businesses. Our work is characterised by: succinct, commercial legal advice that identifies the best path through complex problems; tax efficiency; tailored thinking; discretion; and demonstrating an exceptional personal commitment.

Personal service and attention to individual, business, and family circumstances are hallmarks of our private client practice. 

Our global Private Client team has helped over 5,000 wealth owners around the world, their families and their other advisers, to protect, grow and pass on their personal and business wealth. Over 600 of those clients have been with us for 10 or more years.

Globally, we are ranked as a Tier 1 firm by Legal 500 for both Personal tax, trusts and probate and Contentious trusts and probate and in Tier 2 by Chambers and Partners.

For more details about our international experience, please click here.

Experience

Private Client

Private wealth individual

Advising heirs of a wealthy individual re inheritance case involving various assets in Russia and abroad. The complications of this case involved the need for distribution of the inherited assets among the heirs under the will and enforced heirs determined by the statutory provisions, as well as the assets including shares and participation interests in Russian entities. Fiduciary management was to be established over these.

Ultimate beneficiaries of a leading investment fund

Advice provided to the client on tax effective ways to distribute a success fee from a Russian investment partnership to the ultimate beneficiaries of the Group through various entities located in the United Kingdom, the US, the BVI and the Cayman Islands.

Private client

Advising a private client on application of CRS to a trust established by a Russian tax resident individual. Advising on the Russian voluntary disclosure programme (“capital amnesty”) and tax-free liquidation of foreign companies, providing turn-key support for the amnesty declaration and winding up of offshore structures, taking advantage of the transitional provisions of the Russian de-offshorisation law allowing controlled foreign companies (CFC) to be wound up tax-free in Russia, including the related reporting to be filed with the Russian tax authorities. Jurisdictions involved: Russia, Switzerland.

High-net-worth individual

Advising a high net worth individual, who was in the process of changing their tax residence from Russia to the UK, on the different aspects and risks of taxation of dividends to be received by this individual (with due account for his plans to distribute the dividends further to his foreign bank account). We based our analysis on the practical aspects of the tax legislation in Russia and the UK (we worked together with UK tax experts) and tried to find solutions that would allow the tax burden on the dividend income to be reduced, with due regard for the tax residence status of the individual in Russia and in the UK at any particular time. We also involved Cypriot tax experts in this project in order to discuss and assess jointly the tax consequences and risks in Cyprus associated with transfer of dividends from the Russian operating companies via a Cypriot holding company. Jurisdictions involved: Russia, UK.

High-net-worth individual

Advising a Forbes top-100 Russian businessman and co-owner of a major Russian industrial group that has expanded into Europe on tax structuring of his participation in terms of the wider group restructuring, including advice on set-up and maintenance of his private holding company, as well as selected inheritance advice and other relevant tax issues related to on-going management of his investments. 
 Jurisdictions involved: Russia, Cyprus, Gibraltar.

High-net-worth individual

Advice provided to an HNW individual on the personal income tax consequences of acquiring and subsequently selling shares in a Russian business.

A well-known Russian game producer

Advising a well-known Russian game producer, mostly specialising in mobile and social games, on application of the Russian CFC rules to his offshore structures and the related tax compliance obligations.

Private client

Advice to a private client on the Russian currency control rules.

Investment Fund

Tax advice concerning the choice of jurisdiction for a company to hold private assets (real estate and a yacht) and portfolio investments. We provided comprehensive advice involving multiple jurisdictions. Our advice covered not only tax issues (including gift tax, income tax and wealth tax) but also currency control and immigration law aspects. It was very important to identify how the laws of several jurisdictions apply in conjunction for particular situations/transactions.

Beneficiaries of a major taxi aggregator

Advising beneficiaries of a major player on the taxi aggregator market in Russia on applicability of the Russian beneficial owner rules and withholding tax rate on dividends paid by a Russian operating company. We also advised on the applicability of the Russian CFC rules to offshore companies controlled by the beneficiaries and prepared the full set of CFC reporting, including related CFC notifications and tax declarations with CFC profits, for submission to the Russian tax authorities.

Ultimate beneficiary of a major Russian manufacturer

Comprehensive legal and tax advisory support for the ultimate beneficiary of a major Russian equipment manufacturer. Our task was to revisit the entire Group’s corporate structure and wind up excessive offshore companies and trusts/foundations, taking advantage of the Russian de-offshorisation law incentives. We are also advising the beneficiary on developing an effective new holding structure. The project was complicated by the need to restructure/settle various intercompany debts and to coordinate restructuring steps in several jurisdictions.

Ultimate beneficiary of a major investment group

Advice provided to the ultimate beneficiary of a major investment group on restructuring the current group structure, including winding up excessive offshore companies, taking advantage of transitional provisions of the Russian de-offshorisation law allowing controlled foreign companies (CFC) to be wound up tax-free in Russia. The project was complicated by the need to restructure/settle intercompany debt without violating the currency control restrictions.

News & Insights:

Private Client