In 1924 the US Air Force made the first aerial circumnavigation of the world. The trip took 175 days. Today, the world’s longest commercial flight is Auckland, New Zealand to Doha, Qatar. The 9, 025 miles is covered in a little over 18 hours. The world we live in today is increasingly globalised and mobile.
The opportunities of globalisation have led to many wealthy individuals having commercial interests in multiple regions, and internationally mobile families based around the world. This has a number of implications for tax management and succession planning.
At Lombard International we have recently developed and launched a proprietary portability simulation tool to illustrate the main tax and legal aspects to consider when clients are looking to relocate from one jurisdiction to another.
The portability tool will simulate tailor-made solutions for wealthy individuals who are seeking expert help and knowledge when considering multi-jurisdictional tax systems and inheritance rules. It will provide users with the context and legal aspects they need to consider when relocating to a new territory or transferring wealth or assets across multiple jurisdictions – be it within Europe or from Latin America to Europe.
Navigating our interconnected world presents opportunities and challenges. Our global team of highly skilled and experienced tax and legal experts have the local in-market knowledge to develop tailored, portable, unit-linked life insurance solutions to meet the unique needs of wealthy individuals living in an increasingly global environment.
Read more about our Wealth planning solutions!
Unit linked life assurance is an effective solution in managing the implications of cross-border interests without the need to restructure assets or realise gains at an inappropriate time.
The portability simulation tool first launched in March this year for Latin American clients looking for cross border solutions into Europe. It became available to European clients in the Nordics looking for cross border solutions into France and Iberia in early May. The next iteration of the tool is scheduled to launch later this year for UK based clients looking for cross border solutions into France and Iberia.
Executive Director for Sales and Wealth Structuring
Lombard International Assurance