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Can the court find out about overseas assets?
source：www.zchlhls.com | Release time：2024年12月13日Can the court find out overseas assets?
In principle, it is possible, but it is difficult.
According to China's laws, the court has the right to investigate and obtain evidence when hearing a case, which includes investigating the property status of the parties. Therefore, legally speaking, the court has the right to seize, freeze and detain the property of the executed person located inside or outside the country.
However, in practice, investigating overseas assets faces many challenges:
Geographical restrictions: The jurisdiction of Chinese courts is in principle limited to the territory of China. For assets located overseas, it is necessary to investigate and obtain evidence through international judicial assistance, which is a complicated and time-consuming procedure.
Information asymmetry: Some countries and regions have low information disclosure requirements and strict bank secrecy, making it difficult for Chinese courts to access relevant information.
Language barriers: Investigating overseas assets requires communication with foreign organisations, and language barriers may be an obstacle to investigation and evidence collection.
High cost: Cross-border investigation and evidence collection requires high costs, such as translation fees, attorney's fees, travel expenses, etc., which is a considerable burden for the parties.
Second, how to improve the success rate of investigating overseas assets?
Despite the difficulties, it is not entirely without solutions. In foreign property disputes, the success rate of investigating overseas assets can be improved in the following ways:
Providing clues: Parties should provide as many clues as possible about the debtor's overseas assets, such as company names, account information, property addresses, etc., so that the court can conduct more targeted investigations.
Apply for judicial assistance: China has signed judicial assistance agreements with many countries, and can request the other country to assist in the investigation and collection of evidence through diplomatic channels.
Appointment of lawyers: Experienced foreign lawyers can help the client to formulate effective strategies, collect evidence, communicate with relevant organisations and increase the probability of successful investigation.
Litigation preservation: In the process of litigation, you can apply for property preservation to prevent the debtor from transferring or hiding the property.
Third, preventive measures:
In order to avoid being passive when pursuing overseas assets in the future, it is recommended to take the following precautionary measures when making foreign-related investments or transactions:
Conduct due diligence: Before entering into a transaction, thorough investigation should be conducted on the background and credit status of the counterparty to reduce risks.
Sign a sound contract: The contract should clearly agree on the court of jurisdiction, applicable laws, dispute resolution methods, etc., and try to agree on the default liability and property preservation provisions.
Retain evidence: Properly keep documents, contracts, emails and other evidence related to the transaction so that they can be provided in time in case of future disputes.
IV. Conclusion:
In conclusion, court investigation of overseas assets is not an easy task, but it is not totally impossible. By adopting effective strategies and measures, you can improve the probability of successful investigation and safeguard your legitimate rights and interests. When making foreign-related investments or transactions, it is all the more important to raise your awareness of risks and take precautionary measures to prevent problems before they occur.
Disclaimer: This article is for reference only and does not constitute legal advice. Please consult a foreign lawyer for specific cases.
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