Building a retirement plan from a complex multi-jurisdictional investment portfolio

Published on: 01/29/18 12:08:pm

With increasing numbers of international workers tending to spend time in multiple locations before returning home, the need for cross-border investment, taxation and trust planning expertise has grown significantly in recent times.

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GWM's Training and Technical Director, Darren Jones recently met a client of African origin who emigrated to the UK aged five with his parents, studied there through to university, before securing a graduate position at a bank in Singapore in 1986. His successful career moved him to Hong Kong, where he met a UK-domiciled woman. They married and now have three children, aged 12, 10 and eight.

With capital gains tax and inheritance tax to consider, GWM's extensive global tax regulation knowledge is required to make sure their investment is as tax efficient as possible

The family moved to Abu Dhabi in 2016, where the husband has a senior banking role. Aged 48, he expects to spend five years in the UAE before moving to the UK to conclude his career and the children their education.

In addition to a property in Hong Kong, which they let, generating a modest yield, they recently bought their ‘forever home’ in the UK, plus they own two London apartments, both showing a large capital gain. All three UK properties have 50% mortgages and are let, producing a good yield. Earned income is high, with a monthly surplus of £7,000-10,000, plus an annual six-figure bonus.

There is cash on deposit of around £2m built up from savings, a recently matured savings plan and liquidated Hong Kong pension schemes, all in the husband’s name.

With income from investments of £60,000 pa net, in addition to rental income and an objective of retiring at 60, mortgage-free, the couple requested appropriate financial advice to help them structure their long-term financial plans.

Find out how GWM can help you maximise your investments, like we helped them.

About Darren Jones:

Darren is a member and associate of the Chartered Insurance Institute and Personal Finance Society and has lectured for both of these professional bodies.Since joining GWM in March 2017, his focus has been on advising high net-worth clients with more complex, often multi-jurisdictional, financial planning needs.

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