Bloomberg quotes Dominic Lawrance on the wealth hubs available to globally mobile high-net-worth individuals
min readHigh and ultra-high net worth individuals are a notably mobile demographic, who must evaluate a range of factors before considering a move between jurisdictions.
Whilst tax efficiency is a consistent pull-factor, there are also a range of non-tax considerations that should be thought through before deciding upon such a significant lifestyle change. These could include cultural activities, schools, and local succession laws.
Dominic Lawrance, Partner in our International Private Client team, comments in Bloomberg:
There’s a reasonable number of options in terms of countries that people can move to which are highly tax efficient, a very light tax or effectively zero tax environment. Individuals making a massive lifestyle change need to also think about non-tax factors — succession laws, schools, the nightlife, cultural activities. All those things ought to come into the mix when deciding where you’re going.
Read the full article in Bloomberg here (subscription required).
