An Example of Relocation Services and Global Wealth Strategy

One of the best examples is why do you need to consider your Global Wealth Strategy is when you expand your overseas business and relocate your family to the UK.

As you expand your business and relocate to the UK, Global Wealth Strategy helps to tailor your UK immigration advice suitable for your business expansion and your family's requirements. As the high earner you need to take care of your global assets and get clear how you will be taxed as you relocate to the UK.

There are legal formalities that you need to meet as you expand your business to the UK, get ready to hire your workforce in the UK and set up payroll for yourself and your employees.

Let's dive in.

Meet Joe.

Joe is a highly successful business author and sales expert. He joined one of the USA based unicorns very early on. He shared his insights as a best-selling author.

Joe translated his insights into a business model where he partnered with his business partner based in Canada. He formed a joint US-Canadian business venture to implement the business model.

The company gained significant international traction. It was one of the fastest growing businesses in Canada. This was noticed by UK Department for Business and Trade, which contacted the company and suggested to expand to the UK.

The entrepreneurs received initial UK immigration advice, but the advice received didn’t quite nail the UK immigration categories that are applicable to entrepreneurs expanding their business to the UK and relocating their families to the UK.

The client contacted several UK immigration experts and chose to work with Family Office in London.

Client’s concerns and instructions

Joe as a client had more than one concern and instructions:

• UK immigration advice to expand his business in the UK and bring over the family joining the entrepreneur

• Overseas business expansion formalities that needed to be met in the UK, legal advice on employment and setting up the payroll

• Buying residential property in the UK

• UK Tax Planning Advice

Outcomes:

UK Immigration Advice for Entrepreneurs, Investors and Business Owners 

UK immigration advice to meet client’s immediate concerns. The most favourable category for business expansion in the UK was chosen. This allowed the founding entrepreneur to expand his business in the UK and bring his family from overseas.

Some of the children reached an adult age at the time of the application. Additional appropriate UK immigration categories were examined to adapt to adult children’s needs.

Joe’s wife is an accomplished actress. She wanted to organise theatrical troupes to visit the UK and put up performances while in the UK. She needed UK immigration advice, so that she could advise her theatre friends.

Overseas Business Expansion Formalities in the UK

The most suitable business expansion formalities were discussed. The distinction was made between registering an office in the UK and incorporating an English company to run the business in the UK.

The concerns around hiring UK workforce, legal advice on UK employment law and administering entrepreneur’s own payroll were discussed.

Buying and Financing Residential Property in the UK

Joe was relocating most of his US-based family to the UK. Different property financing options were reviewed and discussed. Including the option of securing a Lombard loan on his worldwide assets with a private bank in Liechtenstein.

UK Tax Planning Advice for Entrepreneurs, Investors and Business Owners 

Joe is a non-dom resident in the UK and received UK tax planning advice enabling him to be compliant with UK tax rules and controlling his UK tax liability in the foreseeable future.

Saule Voluckyte, M.A.E.S, LL.B, FAIA

I have been working exclusively with UHNWI in Mayfair, London since January 2008. I built specialist knowledge and expertise required to serve ultra high net worth individuals investing, operating and relocating to the UK or Switzerland.

Within the industry, I am the single adviser who is able to traverse the different areas of expertise and bring a comprehensive approach across: global structuring, UK immigration, international taxation and FOREX to develop their global wealth strategy, while they build, grow and expand their wealth worldwide.

Previous experience as one of the senior advisors for the government, made me a go-to person when delicate and uncomfortable scenarios involving heads of state need to be handled with care and preserve privacy.