SUMMARY
Having a global presence can bring many potential opportunities, but also challenges and complexities. Our white paper explores key considerations for families that live, do business, and invest worldwide, or who are seeking to do so.
The world’s wealthiest individuals and their families are more global today than ever before.
They frequently have family members, homes, business operations, and investments spanning multiple countries and regions of the world.
For example, a family might run their multinational business from Dubai, spend time between homes in the US West Coast, Hong Kong, and London, while having children studying in US and other family members living across Europe.
To serve their needs, their Swiss-based family office might also establish a presence in Singapore and Miami.
Such arrangements can deliver the best of many worlds. These include ready access to the best education, healthcare, cultural pursuits, vacations, business growth potential, and investment opportunities, to name but a few.
Despite these benefits, however, being global also comes with challenges and complexities.
The more jurisdictions to which one has ties, the greater the number of regulations, laws, and taxes that may have to be taken into account.
Failure to do so can have many undesirable consequences from asset transfer complications to unexpected tax liabilities to a loss of privacy.
To mitigate the risk of such outcomes, it is vital to be aware of the issues, planning and acting accordingly.
In this paper – Asset location & global mobility – we explore important considerations for global individuals and families.
These include:
- Some of the key trends in global wealth
- Deciding where to base family offices
- Features of wealth centers around the world
- Global mobility
- What to think about before changing location
- How our Global Client Service can help
If you or your family office would like to discuss any of these issues, whatever the stage of your global expansion, we would be delighted to hear from you.
