Cone Marshall Polices the New Zealand’s Foreign Trusts

Par Nell said that Cone Marshall is a law firm..

Cone Marshall Polices the New Zealand’s Foreign Trusts

Par Nell said that Cone Marshall is a law firm headed by two prominent lawyers Karen Marshall and Geoffrey Cone. This New Zealand-based firm is a heavyweight when it comes to global tax planning and trust laws. Geoffrey Cone founded Cone Marshall in 1999, and its headquarters is in Auckland, New Zealand.

Principal Karen Marshall

Karen Marshall joined the firm in 2005. Before moving to New Zealand, Karen worked as a commercial litigator at a certain law firm in London. A year after joining Cone Marshall, she was promoted to a managing partner hence the name of the company ‘Cone Marshall’.

Her role at this law firm is to offer advice to statutory trustee companies. Marshall is an alumnus of the University of Otago, who majored in law. She is experienced in the management of trusts. Marshall is good at drafting documentations about trusts, negotiating trusts precedents for their clients, and offering advice pertaining to trusts. Read more: Cone Marshall Offices

Geoffrey Cone and services offered by Cone Marshall

Geoffrey Cone is a specialist in tax planning and foreign trust, commercial litigation, trustee, and trust management services. Geoffrey Cone is also a graduate of the University of Otago and has a postgraduate diploma in tax and trust law. Cone Marshall’s clients are international families looking to establish New Zealand trusts, companies, and partnerships.

The role of Cone Marshall is to offer advice on tax planning and global wealth.

Geoffrey Cone and tax transparency

In an article titled ‘A Model of Tax Transparency,’ Geoffrey Cone came out strongly to clarify the notion of New Zealand being a tax haven. He clearly stated that New Zealand was not a tax haven. He added that New Zealand is a member of the Organization for Economic Co-operation and Development (OECD). This means that this country exercises transparency when dealing with trusts as dictated by OECD.

Cone Marshall then stated that when dealing with foreign trusts, New Zealand follows the laid down guideline introduced by Michael Cullen in 2006. The guidelines state that a New Zealand citizen with a foreign trust should:

  • Submit a Foreign Trust Disclosure form.
  • Keep financial records of the trust for tax purposes.
  • Ensure that documents containing information such as trust deed, details of trust’s assets and liabilities, and details of settlements are kept safe.
  • Ensure that sensitive paperwork is recorded in English and stored in New Zealand.

Learn more about Cone Marshall: http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10846049


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