Stanbic Bank Ghana hosted international Tax Expert, Kristin Konschnik, at the first session of the 2018 Wealth and Investment Seminar Series to educate clients on the standard glaboal requirements needed when doing business in the United States of America.
The seminar brought to bear the Bank’s expertise and capabilities on the wealth and investment front, leveraging on Standard Bank’s extensive footprint of relevant global wealth and investment solutions coupled with Kristin Konschnik’s wealth of expertise.
According to Head of the Wealth and Investment Unit, Benjamin Mensah: “We look for topical issues that affects the lives of our clients or our prospects. We don’t only exist to ask them to buy products. We are looking at how we can add value to their lives. So, you would notice that in the US, there was a tax reform bill signed just in December and they brought a number of reforms.”
“At Stanbic, we feel that it will be appropriate for us to bring that sort of knowledge, that is a tax expert from the US who understands what it means either to be a US person or have US connections in terms of children or companies to be able to now break it down for our clients to know what it means to comply. So it’s just a value adding conversation that we seek to do as often as we can.”
According to him, there is a growing trend of Ghanaians either having US kids or looking to buy properties in the States or looking to set up companies in the States. He therefore noted that the seminar is not a conversation for Stanbic to product push, but rather to add value.
“I know that people walk away from here to the new knowledge on what it means to have US connections or US person. And that is either going to save them money or going to ensure that they remain compliance and therefore are not open to any issues of going to jail or facing any tax funds”, he added.
Benjamin added that the bank looks forward to assist their clients to structure proper planning that will take care of their estates, their businesses and their families adding that they will go beyond just providing in-depth knowledge to their clients.
In a statement, Chief Executive of Stanbic Bank Ghana, Alhassan Andani, said: “Kristin’s authority comes from her depth of experience and knowledge on tax matters, and I am confident that we will benefit immensely from her lecture. Our commitment and resolve to bring our clients world class financial solutions and services, drove us to bring a person of her caliber.”
Konschnik is a member of the International Fiscal Association, the American Bar Association, the New York Bar Association, the Connecticut Bar Association, and the International Bar Association, where she is currently the editor of the Taxes Committee Newsletter. She has been named to the CityWealth Leaders List multiple times and named as a Foreign Expert by Chambers Global.
She has extensive experience advising individuals and companies on U.S. and international transactional tax matters, including cross-border sales and acquisitions, intellectual property structuring, hedge and private equity funds and tax-efficient U.S. inbound and outbound business and investments.
She also advises clients on foreign tax credit and treaty planning, and advocates for clients before the U.S. Internal Revenue Service in a variety of matters, including compliance with the Foreign Account Tax Compliance Act (FATCA).
Stanbic Bank Ghana is a member of the Standard Bank Group, providing the full spectrum of financial services. Its Wealth and Investment management is a set of personalized financial and banking services that are traditionally offered to the bank’s high-net-worth individuals.
