What you missed
On June 3, 2021, José Chiarella Partner of DAMMA Legal Advisors (Peru), Alberto Fortún and Iñigo Aguirrezabala Partners of CUATRECASAS (Spain) had an interesting discussion about asset protection through the current Reciprocal Promotion and Protection Agreement between Peru and Spain. They addressed different scenarios that current Peruvian families are facing to protect their assets and analyzed in details the who, how and when it is possible to argue the bilateral agreement for the purpose of protecting their assets from another jurisdiction such as Spain.
It was a very interactive conversation moderated by UBS Wealth Planning Advisors Manuel d’Empaire and Justin Pryor based in Miami and Zurich - respectively - where all panelist faced case scenarios to understand the legal and tax implications of a wealth planning structure through Spain. International taxation was at the center piece of the discussion where the audience left with a clear understanding of what are the potential tax implications in both jurisdictions Peru and Spain alike.