Disclaimer: The content of this article is not investment advice and does not constitute any invitation, solicitation or recommendation for investment products. This information is for general reference only.
In recent years, many people have begun to consider immigrating overseas. Traditionally, the more popular countries include the United States, the United Kingdom, Canada and Australia. However, in recent years, many European Union and Asian regions have also launched favorable policies to attract overseas talents and capital, such as Taiwan, Portugal and Ireland.
While immigration thresholds vary from country to country, one thing they all have in common is high and complex taxes. Since Hong Kong has always pursued a low tax rate and simple tax system, many people have overlooked the importance of tax planning. Especially when immigrating from a low-tax area to a high-tax area, it is easy to fall into the "global tax network" and be levied up to 40% of overseas income tax, asset appreciation tax and inheritance tax. If you want to legally reduce taxes during the immigration process, and at the same time use your assets flexibly to seamlessly support your life abroad, establishing a "trust" as early as possible is your best choice.
Preparing for immigration: setting up a trust
Trust, in the simplest explanation, is to hand over property to the most "trustworthy" professional institution for "custody". This is a high-level legal arrangement involving three different roles: "Settlor", "Trustee" and "Beneficiary". When the "trustor" has wealth planning needs, he can sign a trust contract with a qualified trust institution to convert personal property into trust property. The trust institution must properly manage the property in accordance with the purpose of the trust contract and pass it on to the "beneficiary."
Give a simple example. If you set up a trust before immigrating, you are the "trustor" and the trust institution is the "trustee". When you transfer your property into a trust, your property is held in your personal name and is converted into a trust fund that is exclusive to you. Since the property is no longer in your personal name, this legally recognized asset segregation solution can not only effectively reduce or delay taxation, but also build an asset firewall for you to avoid future marriage breakdown, debt recovery or other overseas policies. potential loss of assets due to risks.
Life after Immigration: Living in Trust
In addition to tax planning before immigration, many people also worry about how to use trust assets to support local living expenses after immigration. Comprehensive supporting functions can provide you with thoughtful ideas and eliminate worries.
1. Offshore banking and investment sub-accounts
By setting up a trust, in addition to the benefits of asset segregation and risk segregation, you can also issue instructions to flexibly allocate trust assets to different offshore bank sub-accounts, including the United States and Singapore, through the global banking and investment banking network for global transactions. Invest and continue to add value to your assets.
2. High privacy asset-backed credit card
Unique asset-backed credit cards and global bill payment functions are essential for post-immigration life. No matter where you are in the world, as long as there is a payment outlet, you can easily swipe your card and use your trust assets for consumption. The credit card limit is completely linked to the value of your trust assets. The higher the asset value, the higher the credit card consumption limit. There is no upper limit. More importantly, every purchase is made in the name of a trust institution, giving you a high degree of consumer privacy. Moreover, the cardholder name on the credit card can also be set by himself, allowing you to have a unique black card that is just for you.
3. Global Bill Pay
In addition to using credit cards for high-privacy and unlimited consumption, the global bill payment function can also help you use trust assets to pay payments around the world, including but not limited to rent, management fees, policy fees, utility bills, children's tuition fees, etc. Let you enjoy a worry-free post-immigration life.
4. One-stop trust management platform
Will it be complicated with so many functions? In order to allow customers to enjoy an extremely smooth experience, professional trust institutions have invested a lot of resources to develop a one-stop trust management platform that allows you to connect to the world and issue all instructions on one platform. The platform has complete functions, including asset deposit and withdrawal, currency exchange, offshore custody, investment and financial management, credit card settings, global bill payment, etc., saving you a lot of valuable time.
Make an appointment for trust consultation
Trusts have many functions, which cannot be fully described in this article. If you have needs for immigration tax planning, asset segregation, high-privacy consumption, offshore banking services, investment and financial management, global payments, etc., please contact me. The trust specialist will be happy to develop a tailor-made plan for you.
If you are interested in learning more, please contact me:
WeChat: brianluk0808
Whatsapp: +852 5687 6088
EmailEmail: [email protected]
You can also fill out the form below and let me develop a personalized plan for you:
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Disclaimer: The content of this article is for reference only and does not constitute investment advice or an invitation, solicitation or recommendation for any investment product. Readers are advised to make their own judgment and seek professional advice.
The content of this article is purely the author's personal opinion and does not represent the position of 852FIN.
852FIN reminds readers that the content contained in this article mainly comes from online public information and does not constitute any professional advice. Readers should seek professional advice if they have specific questions about the establishment and management of trusts.
852FIN and the author of this article are not responsible for any loss or damage caused by the information contained or omitted in the article.
The content of this article is for reference only and does not constitute investment advice or an invitation, solicitation or recommendation for any investment product. Readers are advised to make their own judgment and seek professional advice.
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