Lyubomir (Lubo) Georgiev

Biography

Lyubomir (Lubo) Georgiev co-heads the Tax practice in Switzerland, heads the International Tax & Global Wealth Management practice in Zurich, and leads Tax Knowledge Management in EMEA region. Previously he was a member of the EMEA Wealth Management Steering Committee and Knowledge Management & Training head. Lyubomir has assisted high-net-worth individuals, family offices, banks, fiduciaries, insurance companies, asset managers, investment advisers, sovereign wealth funds, private equity funds, hedge funds, FinTech and non-profit foundations. He participated in the negotiations of the special arrangements between the Government of the Principality of Liechtenstein and the UK on voluntary disclosure, tax compliance certification and tax information exchange. Lyubomir has practiced law since 2003 in the United States and Switzerland and is admitted to practice in Washington, DC, US Tax Court, England and Wales, and in Switzerland as a foreign-qualified solicitor. He has been ranked in Chambers Global since 2012 as a foreign expert in practice areas such as UK tax and private clients, US private clients, and Liechtenstein tax and general business law.

Practice Focus

Lyubomir practices in the following areas: global wealth management, cross-border taxation, withholding and tax treaties, tax filings and voluntary disclosures, Section 892 benefits, and regulatory compliance. His practice focuses on assisting institutional and individual clients as well as government sovereign wealth funds. Lyubomir regularly advises on issues relating to US QI, FATCA, OECD CRS, and EU DAC6 tax information exchange, FATF AML, life insurance and annuity products, trust and estate planning, expatriation and relocation, blockchain and digital assets, cryptocurrencies and NFTs.

Professional Associations and Memberships

International Bar Association / Private Client Tax, Insurance, Banking Law - Member
Law Society of England & Wales - Member
District of Columbia Bar (USA) - Member
American Bar Association / Taxation; Law Practice Division - Member
Society of Trust and Estate Practitioners (STEP) / Tax Advisory Trusts and Estate Planning; Insurance; Family office; Digital assets; Philanthropy - Member

Admissions

Zurich Art. 28 BGFA~Switzerland (2013)
England & Wales~United Kingdom (2009)
U.S. Tax Court~United States (2008)
District of Columbia~United States (2003)

Education

Duke University (Coursera Online Specialization in Decentralized Finance (DeFi): The Future of Finance) (2023)
University of Pennsylvania Wharton School (Coursera Online Specialization in Fintech: Foundations & Applications of Financial Technology) (2022)
New York University (LL.M. Taxation) (2008)
Cornell University (J.D.) (2003)
University of National & World Economy (B.A.) (1999)

Languages

Bulgarian
English
German
Russian

Previous Offices

New York

Publications

Co-author, "US IRS lacks authority to assess and collect IRS Form 5471 penalties," Baker McKenzie News Alert, April 2023

Co-author, "United States: Notice 2022-36 Provides Taxpayers with Significant Penalty Relief," Baker McKenzie News Alert, September 2022

Co-author, "United States: highlights of legal and tax differences of statutory foundations and private foundations," Trusts & Trustees, June 2022

Co-author, "Beneficial Ownership Reporting in the United States - Part II," Baker McKenzie Client Alert, March 2022

Co-author, "Arrest of Bitcoin Thieves Highlights U.S. Government’s Commitment and Ability to Combat Crypto Related Crimes," Baker McKenzie Blockchain Blog, February 2022

Co-author, "Tax Reform or No Tax Reform - The Potential Impact on Private Clients and Family Offices," Baker McKenzie, October 2021

Co-author, "U.S. Government Asks for Repatriation Order of Assets Located in Switzerland to Satisfy FBAR Penalties and Interest," Baker McKenzie, July 2021

Co-author, "The President Biden tax proposals rely on technology, machine learning and artificial intelligence updates to enhance compliance," Baker McKenzie, June 2021

Co-author (with Noam Noked), "Step-up in Basis in Revocable Trusts: Should the Settlor Reserve the Right to Receive or Direct Income?," Trusts & Trustees, Volume 27, Issue 1-2, February-March 2021

Co-author, "IRS Guidance Reduces Reporting on Foreign Pension and Other Savings Plans But Does Not Clarify Income Tax Liabilities,"— Journal of International Taxation, February 2021

Co-author, "Updates on Beneficial Ownership Reporting in the United States," Baker McKenzie, January 2021

Co-author, "IRS Requests Comments Concerning Information Reporting on Transactions with Foreign Trusts and on Large Foreign Gifts," Baker McKenzie, June 2020

Presentations

Presenter, "Corporate Transparency Act: Wealth Planning Aspects," Academy & Finance, Zurich, March 2024

Co-presenter, "Preferential tax regimes for certain residents - where are we and where are we going," Baker McKenzie Zurich Business Briefing, 31 January 2024

Co-presenter, "US joins the rest of the world (Part V – CTA Access Final Regulations and Roll Out of the CTA)," Baker McKenzie Webinar, 29 January 2024

Co-presenter, "Corporate transparency: US joins the rest of the world (Part IV – CTA Access Regulations)," Business Briefing Webinar, January 2023

Co-presenter, "Corporate transparency: US joins the rest of the world (Part III – CTA Regulations)," Business Briefing Webinar, November 2022

Co-presenter, "Cross-border planning: Tax considerations for investments with US and UK connections," Business Briefing Webinar, May 2022

Co-presenter, "Corporate transparency: US joins the rest of the world (Part II)," Business Briefing Webinar, January 2022

Co-presenter, "Corporate mobility: issues to consider when exiting jurisdictions and investments," Baker McKenzie Webinar, 30 November 2021

Co-presenter, "Planning with Trusts and Corporate Vehicles," Baker McKenzie Zurich Business Briefing Series, 20 October 2020

Co-presenter, "Big Data," Baker McKenzie Zurich Business Briefing Series, 17 November 2020

Co-presenter, "The Future of the Digital Economy and Tax Reporting," Baker McKenzie Zurich Business Briefing Series, 15 September 2020

Co-presenter, "CRS Compliance & Audits, EU DAC6, UBO Registers & EU AMLD," Baker McKenzie Zurich Business Briefing Series, 25 June 2020

Co-presenter, "How Technology is Changing the Landscape of Compliance and Investigation Programs," Baker McKenzie Zurich Business Briefing Series, 11 June 2020

Co-presenter, "COVID-19 tax/legal considerations for clients with connection to Poland/EU, Russia, Ukraine, UK & US," Spring Business Briefing Series, 4 June 2020

Co-presenter, "Blockchain & Succession Planning in the Digital Era," Baker McKenzie Zurich Business Briefing Series, 24 October 2019

Co-presenter, "US Tax Reform & Current Issues: Planning Outside the United States," Baker McKenzie Zurich Business Briefing Series, 8 May 2019

Co-presenter, "Workshop on Wealth Management and Compliance, AEOI, CRS, DAC6, MDR Compliance & Insurance & Data Disclosure Disputes," 27 March 2019

Co-presenter, "Taking on Crypto: What do Financial Institutions, Asset Managers, Family Offices, and Trustees Need to Consider Before Taking on Crypto?" Baker McKenzie Zurich Business Briefing Series, 27 November 2018

Co-presenter, Non-US Financial Institutions and Their US Person Clients: "Tax Considerations for US Person Clients," "What does US Regulation Look Like in a Trump administration?," “Building and Reviewing Your US Person Policy,” Baker McKenzie, Zurich, 4-5 May 2017

Co-presenter, "Automatic Exchange of Information (CRS) Impact on Trusts and Underlying Companies," Academy & Finance, Zurich, March 2017

Presenter, Advanced CRS Workshop for Trustees and Family Offices, Baker & McKenzie, Zurich, September 2016