Tracing assets hidden abroad in divorce

In financial remedy proceedings in England and Wales, both parties are legally obliged to provide complete disclosure of their financial resources, including assets held overseas.

Unfortunately, many people believe they can hide assets from the court to prevent their spouses from receiving their fair share. Offshore assets in particular are seen by non-compliant spouses as the best way to conceal their wealth. 

Tracing assets across international borders can be difficult, especially when offshore jurisdictions are utilised. But with diligent research and the utilisation of a wide range of publicly available information, it can be possible to put together a full picture of complicated wealth structures.

Vardags is the only family law firm with a dedicated, in-house Financial Forensics department. Our specialist team are experts in the tracing, valuation and forensic review of assets, including those held abroad.

If you’re considering or going through a divorce, click below for a free initial consultation with one of our expert divorce solicitors.

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What to do if you suspect your spouse has hidden assets abroad

If you suspect your spouse has hidden assets abroad and you are considering or in the process of divorce, it is crucial to seek specialist legal advice as soon as possible. In these cases, time is of the essence. If you are already going through a divorce, or your spouse suspects that you may file for divorce, they may attempt to put assets out of your reach by moving them abroad. You will need a divorce lawyer who is experienced in outmaneuvering non-complaint spouses and handling complex cases with cross-border assets.

The family court views non-disclosure poorly, and fortunately there are legal remedies available to tackle such deceptive behaviour. For example, our team can obtain a freezing order to prevent your spouse from transferring assets abroad. For assets already held offshore, our lawyers work with our specialist Financial Forensic apartment to value and uncover hidden assets. Sanctions from the court can be sought to penalise non-disclosure and obtain compliance.

Tracing assets in different jurisdictions

The complexity of tracing overseas assets will depend on the jurisdiction where they are held. Different countries provide various levels of transparency or secrecy with clients’ bank accounts and assets, and parties may have assets in more than one overseas jurisdiction. 

How can I find my partner’s assets in France?

Like many European countries, France offers a relatively high degree of transparency when it comes to investigating assets and business holdings.

Registries of company ownership and land ownership are publicly accessible, making it quite simple to trace how companies are owned. Though it is always difficult to find out who ultimately owns the beneficial interest in a company, the amount of information available will help Vardags’ in-house commercial team uncover assets which may be hidden in or through France.

How can I find my partner’s assets in the BVI?

As an off-shore jurisdiction, the BVI markets itself on the high degree of secrecy it offers investors and businesses. Companies in the BVI are not required to produce public accounts or who the true owners are.

Within the BVI, however, it may be possible to obtain orders for the search and seizure of documents, or for the disclosure of documents.

Vardags in-house corporate team are used to working with off-shore jurisdictions and finding legal and effective ways to trace assets through such bastions of corporate secrecy.

How can I find my partner’s assets in the Cayman Islands?

The Cayman Islands apply strict rules of confidentiality to most types of asset class held on the islands. The information which can be found about companies is very limited, and it is very hard to trace the ultimate beneficial owners of assets.

Vardags in-house corporate team has significant experience in dealing with tracing assets through areas like the Cayman Islands, and can use a number of techniques to find, legally and effectively, further details and disclosure from such companies.

How can I find my partner’s assets in Australia?

Australia has a large degree of corporate transparency, making it possible to trace assets there easily. A large amount of information on assets is available from the corporate and land registries. 

How can I find my partner’s assets in the USA?

Though rules about disclosure vary from state to state, the United States is one of the most transparent jurisdictions in the world for corporate and property information. This publicly available information can be utilized in divorce proceedings to trace assets and ensure that the court have a full financial picture.

In addition, due to the level of extra-territorial control the US government has over its currency, it may be possible to trace dollar denominated transactions around the world. Applications in the US courts can therefore be utilized to trace assets internationally in certain circumstances.

Vardags’ team of top international divorce lawyers delivers bespoke legal services to HNW and UHNW clients, including those with connections to Switzerland, Dubai, France, British Virgin Islands, Cayman Islands, and Australia.