Pre-Immigration Tax Planning – An Essential Few Execute Properly
[IMPORTANT NOTE: The subject of global taxation is immensely complex and varies from jurisdiction to jurisdiction. The scope of this article is broad and does not constitute legal advice. Any individual concerned about global tax implications needs to discuss the subject in detail with qualified tax advisors in both their home country and in the foreign countries in which they are investing and/or considering as a future immigration destination.]
This is the final posting for LatourLaw’s Five Part series on Pre-Immigration tax planning. Over the course of the series, we’ve explained:
- Why any successful individual or family considering immigration to the U.S. or any other country needs comprehensive pre-immigration tax planning BEFORE they immigrate;
- How any high net worth individual immigrating can legally save millions of U.S. dollars in income, capital gains, and estate taxes by working with global planning experts to divest, restructure or otherwise dispose of assets BEFORE they immigrate;
- The concept of “US tax person” and how falling under that definition can happen simply by means of spending too much time in the U.S., even as a tourist or on business visits;
- The use of offshore trusts, living trusts (also known as “intervivos trusts”) to minimize future tax consequences for your and your family for both U.S. and foreign based assets.
- Why, after almost 30 years of helping high net worth families through pre-immigration planning before relocating to the U.S., New Zealand is our preferred offshore jurisdiction for clients whose solution involves an offshore trust.
LatourLaw collaborates with the best and brightest tax attorneys, estate planners, and financial advisers throughout the world to find the right solutions for our clients. Each family’s situation is different, so there are no “cookie cutter” solutions. Instead, we carefully work with each individual family to craft the most secure and compliant pre-immigration tax planning possible to not only minimize the adverse tax consequences of immigrating to a Western jurisdiction…but to make CERTAIN that the solutions we execute are fully compliant with U.S. and international tax laws.
LatourLaw’s Family Office Services (LLFOS) works with a MAXIMUM of 10 international investor families to lead them through the pre-immigration tax planning process, establish the necessary trusts and other structures, and then to manage our clients’ U.S. and third country investments via LatourLaw’s international offices in Miami, Florida and Ho Chi Minh City, Vietnam. LLFOS becomes the comprehensive global representative for its clients, undertaking the following duties:
- supervising and managing trusts and other planning structures;
- identifying, investigating and executing business, real estate, and asset purchases in the U.S. and third countries;
- administering all bill paying and finances relating clients’ U.S. and international assets, properties, and needs via LatourLaw’s Florida Bar IOTA Trust Account, insuring banking compliance and global transaction reliability;
- assist with college applications, establishment of credit, vehicle purchases, residential/commercial lease negotiations, etc.
e CERTAIN that the solutions we execute are fully compliant with U.S. and international tax laws.
Serving as the de facto legal and fiduciary representative of its small group of vetted clients, LLFOS charges each client a fixed monthly fee based upon the extent of our involvement and size of the managed asset base.u00a0 No hourly fees, no surprises, just a reliable and consistent guardian of your global assets, plans, and investments. We don’t add on fees or take commissions; we NEGOTIATE the best deal to protect our clients interests…AND their bank account!
In fact, several decades of LatourLaw's Family Office Services experience shows that LLFOS clients typically save 3-4 times the annual cost of the retainer paid to LatourLaw , based on the money saved on third party professionals, other legal providers, accounting costs, mistakes we identify, and our strong transactional negotiating position as a leading global law firm.
LLFOS currently has several client slots available and we are specifically looking for Vietnamese investors who are best positioned to plan and build their US and international investment portfolio through our growing Ho Chi Minh office. Contact LatourLaw for more information on how we can help your family intelligently and comprehensively plan future investment and migration.
Attorney José E. Latour