Ultra-High Net-Worth Wealth Management: Balancing Art and Strategy Navigating wealth management is comparable to mastering a sophisticated art. For the ultra-high net worth (UHNW) expat, it’s not just about chasing high returns but about learning the fine art of managing cross-border wealth. At the heart of this mastery lies the imperative of not just safeguarding
The intricate relationship between global politics and investment dynamics. In the era of globalization, no investor can afford to ignore the interconnectedness of politics and financial markets. Global events, from elections to trade agreements, can cause ripples that reach the portfolios of investors, even those residing continents away. As history has shown, stock markets
Balancing Wealth and Regulations: Navigating the Financial Landscape of an American Expat in Ireland The allure of the Emerald Isle, with its rich history, breathtaking landscapes, and vibrant culture, has drawn many to its shores. Among them are High-Net-Worth (HNW) American expats living in Ireland, who, while enjoying the benefits of Ireland also face unique
Portugal, with its sun-kissed beaches, rich history, and vibrant culture, has long been a favored destination for expatriates from around the world. One of the primary attractions for many has been the Non-Habitual Residency (NHR) tax regime, which offered significant tax advantages for both retirees and professionals. However, with the recent announcement of the NHR’s
Navigating Financial Success Abroad In today’s globalized world, affluent expatriates find themselves amid diverse financial landscapes, seeking to harmonize their wealth with their transient lifestyles. Wealth managers are the architects of economic well-being for such individuals, crafting holistic services that amalgamate investment strategies, property acquisition, and visa opportunities, ensuring affluent expats can realize their
Portugal Non-Habitual Residency (NHR) program The allure of Europe has always been irresistible for many, with its rich tapestry of cultures, history, and landscapes. But for high-net-worth American expats, there’s an added incentive to consider Portugal as their next destination: the Portugal Non-Habitual Residency (NHR) program. This program, introduced by the Portuguese government, is
Maximizing Wealth: The Imperative of Investment Diversification for High-Net-Worth Clients In the ever-evolving landscape of wealth management and investment strategies, high net worth (HNW) clients often find themselves at a crossroads. The pursuit of wealth preservation and growth requires a keen understanding of the multifaceted world of investments. Among the various principles that guide
Navigating Cross-Border Estate Planning as an American Expat in Europe Living as a High Net Worth (HNW) American expatriate in Europe has its fair share of financial advantages and complexities. One crucial aspect often overlooked when it’s too late is cross-border estate planning. As an American expat, your financial affairs span across two jurisdictions,
The Overlooked Wealth Management Tool for HNW Individuals In the vast spectrum of wealth management strategies available to High-Net-Worth (HNW) individuals, one instrument consistently gets overshadowed: Life Insurance. Most people view life insurance as merely a means of ensuring financial stability for loved ones in the event of unexpected circumstances. However, upon closer examination,
The Impact of Inheritance Tax Laws on Golden Visa Expats in Portugal The allure of Portugal’s Golden Visa program attracted expatriates from around the world seeking not only a high quality of life but also favorable tax benefits. However, when it comes to inheritance tax laws, the landscape can become complex, potentially affecting the
Securing the Future of Your Closely Held Business Building a successful closely held business is a remarkable achievement. As a business owner, you’ve dedicated years of hard work, passion, and perseverance to make it thrive. However, there comes a time when you must confront the inevitable question of what happens next. Business succession planning
Wealth Management and Preservation for High-Net-Worth Clients: For high-net-worth (HNW) clients, achieving and preserving wealth is a multifaceted journey that requires expert guidance and strategic planning. As a financial advisor dedicated to serving HNW individuals, my primary focus is to help my clients navigate the complexities of wealth management and preservation. In this article, we
American expat small business owners in Portugal For American expat small business owners living in Portugal, navigating the complexities of financial planning can be challenging. Balancing business responsibilities, tax obligations, and personal finances in a foreign country requires careful consideration. In this article, we present five essential financial planning tips tailored specifically for American
High Net-Worth Expats seeking tax-friendly European countries have several options that provide favorable tax environments. Here are five countries known for their attractive tax policies: Portugal Portugal has gained popularity among expats due to its Non-Habitual Resident (NHR) program. This program allows qualifying individuals to benefit from a 10-year tax exemption on
Seeking Professional Financial Advice for US Expatriates in Europe Moving to a new country can be an exciting adventure, but it also comes with its fair share of financial challenges. For US expatriates living in Europe, understanding and managing the unique financial landscape is essential. That’s where professional financial advice comes into play. Let’s
Key Considerations for American Expats Owning Property in France: Owning property in France as an American expat comes with unique financial considerations, particularly concerning inheritance laws. Understanding the intricacies of French inheritance laws is crucial to ensure your property is properly managed and passed on to your heirs according to your wishes. This article aims
UK Pension Changes: How They Affect UK Expats Living in Portugal In recent years, there have been significant changes to pension regulations in the United Kingdom. These changes have not only impacted UK residents but also UK expats living in various countries, including Portugal. Understanding the implications of these pension changes is crucial for
Accidental Americans—a term coined for individuals who possess U.S. citizenship by birth but have little or no connection to the country—find themselves navigating complex tax obligations. Born into American citizenship through various circumstances, these individuals may be unaware of their tax responsibilities to the United States. In this article, we will explore the concept of
Domicile for tax purpose as an expat in Portugal defined: Domicile for tax purposes refers to the jurisdiction or country that an individual considers their permanent home or legal residence, which determines their tax obligations. As an expat in Portugal, understanding the concept of domicile is important for determining your tax residency status and
Working as a teacher abroad can be an exciting and rewarding experience, but it’s important to take care of your financial health while you’re away from home. Here is a financial health checklist for American teachers working abroad: 1. Understand your tax obligations: As a U.S. citizen, you are still required to file taxes with
Generational wealth refers to assets passed down from one generation to the next. By building wealth and assets that can be passed down through the generations, families can create long-term financial security and opportunity. Generational wealth is often associated with the ability to provide children and grandchildren with benefits like higher education, first homes, and
Living as an expatriate in the beautiful Algarve region of Portugal has its perks, but it also comes with unique financial and lifestyle concerns. As someone who has experienced the joys and challenges of this lifestyle, I would like to share my insights on the key factors that occupy my thoughts and considerations. Financial Planning:
Living as an expatriate can bring many benefits, but it complicates matters related to your estate plan and assets. As an American living in France, it’s essential to regularly update your estate plan to account for your changed circumstances. Here are five reasons why: Comply with French inheritance laws. French inheritance laws differ significantly from
Americans who move to Portugal may face several financial complexities related to taxes, investments, banking, and currency exchange rates. Some of the key issues that Americans may encounter when moving to Portugal include: Banking: Americans who move to Portugal may face difficulties in opening a bank account due to strict Know Your Customer (KYC) regulations.
Americans overseas and the U.S-connected individuals obligated to file taxes in the United States frequently make a common mistake by buying or investing in a foreign mutual fund (including ETFs or other non-U.S.-based funds). These non-US funds are classified as PFICs, and they have serious tax consequences for the U.S. taxpayer. In simplified terms, PFICs
Most American expats have heard of FATCA. A few know what it means to them, but most don’t like it. But in reality, it’s the foreign financial institutions the United States obligates to report that like it far less than the taxpayer. Why? Because if the institutions do not comply, the U.S. government imposes a
We talk to Paul Flintham, an International Financial Advisor at Beacon Global Wealth Management about French Gift Tax. Gifts are made while you are still living. The Doner makes the gift, the Donee receives the Gift. The Donee is also responsible for paying any tax that is due (droits de donation) In the UK there
When it comes to retiring to France from the UK, one of the most imperative requirements for a successful visa application is for your financial circumstances to be in good order. We talk to Jennie Poate at Beacon Global Wealth, a wealth management firm specialising in providing expert financial advice for those looking to
We have seen recently a number of UK financial institutions change their stance for clients who live outside of the UK and companies including the likes of Aviva not allowing online access for clients which is causing confusion. https://www.aviva.co.uk/aviva-edit/in-the-news-articles/brexit-impact-on-policy-french-residents/ Due to Brexit, some companies no longer have a European licence for financial and insurance services
We have seen recently a number of clients be caught out on the above ruling, including those who use an accountant. If you are tax resident in France, you must declare each year your bank accounts, investment policies and insurance contracts. It does not concern accounts used to make payments for online purchases or deposits
You may have seen emails alerting you to a new fraud specific to the financial services advice industry. We are not aware of any of our clients having been targeted in the way described below, but it is our responsibility to do everything we can to educate our clients about these scams to avoid any
The UK left the EU on 31 January 2020. The transitional period ran until 31 December 2020 and the UK is now a “third country” and no longer part of the EU’s economic structures. This might affect how your UK investments or pensions are serviced in the future. If you live in the France
The European Health Insurance Card (EHIC) is to be renamed the Global Health Insurance Card (GHIC) For those in France whose health cover is supplied via the SI form when receiving the UK State pension, the new website for a replacement card is the following: https://services.nhsbsa.nhs.uk/cra/start A European Health Insurance Card (EHIC) gives you the
Post/Parcels Letters and large letters containing only correspondence, commercial invoices or shipping documents do not require a customs declaration, the rest do. They can be downloaded from the following sites. France: https://aide.laposte.fr/contenu/brexit-au-1er-janvier-2021-les-nouvelles-formalites-douanieres-vers-le-royaume-uni UK: https://www.postoffice.co.uk/mail/customs-forms Pension/ Healthcare Protection The European Commission President Ursula von der Leyen, states: “The provisions on Social Security Coordination will ensure that
Background and Taxation Summary This summary provides an initial overview and explains the main guidelines and possible implications of the non-habitual resident (“NHR”) regime for foreigners and Portuguese individuals settling in Portugal after an extended period of living abroad. It deals mainly with individuals receiving pension income, but also sets out other key points of
Qualifying for the NHR status and Registration as NHR Recognition of this status is not automatic and requires activation by attending to the following formalities: Application for a Portuguese taxpayer number Registration as tax resident Request the access codes to the Tax Authorities’ website Application for the NHR status. Nevertheless, in case the Portuguese Tax
If you are planning on moving to Portugal and you are leaving from the UK, then it is most sensible to ensure you leave the UK properly. This means you should take note of the Statutory Residence test rules. What’s new in Statutory Residence Test? On 19 March 2020 HMRC issued new guidance about how
The provisional bands and rates for 2021 for 2020 household income are below and are subject to parliamentary approval in December 2020. The income levels in each band will increase by 0.2% for inflation, but for two bands the maximum income figure has been reduced as a result of the reduction in the rate of
To apply for the new France Residency Card online, you need to go to the following French government site https://contacts-demarches.interieur.gouv.fr/brexit/brexit-demande-titre-sejour/, before you apply you will need to prepare the documents that are needed to accompany the application (each document file must have a different name and be less than 5mb in total). Further information can
If you are already France tax residents (or moving to France) and you take financial advice from the UK or your investments are still UK based, what do you need to think about as the end of the Brexit transition period approaches? Reassuringly, citizens’ rights for UK nationals legally settled in France by the 31st
EXPENSES U.S. $ EURO € GBP £ Rent $800 to $1,500 €712 to €1,335 £632 to £1,185 Electricity $100 €89 £79 Groceries (incl. wine) $600 €534 £474 Landline rental fee (excluding call costs) $60 €53.40 £47.40 Gas for heating/stove $60 €53.40 £47.40 Internet $40 €35.60 £31.60 Transportation (car maintenance plus diesel/petrol) $175 €155.75 £138.25 Cellphone
https://brexit.gouv.fr/sites/brexit/accueil/vous-etes-britannique-en.html “How to prepare for Brexit? Following the ratification of the withdrawal agreement, the United Kingdom’s exit from the European Union took effect on 1 February 2020. This agreement provides for a transition period to run until 31 December 2020, during which time all of your rights as a British citizen will be upheld. Pursuant
When I first became an advisor in France more than ten years ago, the single most important criteria for those moving to France was protecting capital due to the different inheritance rules here. Almost exclusively our clients were of a certain age and retiring to live their dream in France. How times have changed! Our
Well over one Trillion Euros (well over one Million, Million Euros) is now held in Assurance Vie (AV) policies and life insurance remains the preferred investment for French tax residents. Although the idea was born in the middle of the 17th century, the Assurance Vie today is a modern and tax efficient savings and investment
It’s not about timing the market, it’s about time spent in the market In today’s low interest rate environment (and if it is at all possible, interest rates now seem to be getting even lower!), to achieve any growth a measured amount of risk has to be taken, meaning that part of your investment may
The French Government have just issued the following update: Saisine des services de l’Étatpar voie électronique The website ONLINE PROCEDURE TO REQUEST A RESIDENCE PERMIT FOR BRITISH CITIZENS RESIDING IN FRANCE BEFORE THE UNITED KINGDOM’S WITHDRAWAL DATE FROM THE EUROPEAN UNION opened in the event of a no-deal Brexit (which has been ruled out) IS NOW CLOSED
I’ve been giving financial advice to English speaking clients who live outside of their home country now for the last 23 years (of which the last 13 years in France) and they certainly are a varied bunch of folks Some have settled into their new country and new lifestyle very well, others not-so-well and a
For whom is this service meant? This online service is meant for British citizens as well as their family members (spouse, children and parents of British nationality or third-country nationals residing on the French territory before the United Kingdom’s withdrawal date from the European Union, in case of a no-deal Brexit. As of when will the residence
It is the time of year when we find out what tax changes we will charged in the following year and wait for parliament to debate and finalise the proposed budget. President Macron’s government has announced €9 billion worth of tax cuts for families in France. France’s draft budget for 2020 was revealed at the
Up until now, British passport holders have been able to live in France and elsewhere in Europe with no Visa and no formal requirement to prove they have the means to live here. This is all likely to change with the UK leaving the EU. Current guidelines state that there are certain levels of income
If you’re an expat living in France and wish to remain there post-Brexit, here are a few pieces of information you should know from the UK government website:
When your main home/principal residence is in France and you are a tax resident in France it is a legal obligation that you declare all your world/global income and capital gains
Rental income is always taxed in the UK using individual personal allowances 2018/19 = £11,850. So, you can receive £23,700 between you with no income tax to pay.
Did you know that there are different type of financial advisors?
When you search for a financial advisor, how can you be assured that they are right for you?
Understanding your appetite for risk is key when you are considering an investment strategy. Risk profiling is the process that we use to find your correct level of investment risk.
Increasingly we find our clients interested in ethical and sustainable investments and we have undertaken much research and work in this area.
For people living in France, the Assurance Vie (life insurance) is considered one of the best ways to invest money and organise your inheritance
Understanding your appetite for risk is key when you are considering an investment strategy.
If you receive a French based regular income such as salary or pension, PAYE (pay as you earn) a tax payment at source is to be introduced.
Bad financial advice can be devastating, here are 5 points to consider when looking for a financial planner.
In all the excitement of moving to France, it’s easy to forget something important. So here’s a list of some of the things you should do before leaving the UK
As an expatriate moving to France or buying your dream holiday home, the last thing most of us would think about is succession planning
Si vous êtes un ressortissant français et que vous envisagez de déménager du Royaume-Uni vers la France, voici quelques questions qui pourraient être pertinents pour vous aider dans votre déménagement.
Investissement:
L’impôt sur la fortune (ISF) – has now become l’impôt sur la fortune immobilière (IFI)
In 2018 there will be a number of new EU directives and regulation implemented by various regulatory bodies ,
Most people are pleasantly surprised to pay less income tax or “impôts sur le revenu” in France than they would as a resident of the UK.
Inheritance Tax Rates per beneficiary
(Droits de succession) – there is no inheritance tax between spouses or couples with a PACS.
For anyone who has interests in various countries of the world, your place of residence can be a major cause of confusion.
There is now great news for those planning to move to move on a permanent basis and are not yet in receipt of a pension.
An instant access savings account is a “Compte sur Livret”. Banks can also offer fixed term deposits, for over one month, which offer better interest rates, called “Comptes à Terme”.
The draft French budget for 2018 was presented to the French Parliament on 27th September 2017. The budget will now work its way through parliament before being approved at the end of the year, so changes are possible.
Most expats want to know their financial future is secure. For the past 20 years we’ve been using our Expat Wealth Plan™ to make your money work for you, so you can enjoy your future whatever it holds.
The financial advisers trading under Beacon Global Wealth Management are members of Nexus Global (IFA network). Nexus Global is a division of Blacktower Financial Management (International) Limited (BFMI). All approved members of Nexus Global are appointed Representatives of BFMI. BFMI is licensed and regulated by the Gibraltar Financial Services Commission (FSC) and bound by the rules under licence number 03647
Nexus Global EU is a division of Blacktower Financial Management (Cyprus) Limited (BFMCL) and Blacktower Insurance Agents & Advisors Ltd (BIAAL). Beacon Global Wealth Management is an Appointed Representative of BFMCL which is licensed and regulated by the Cyprus Securities & Exchange Commission (CySEC) – Licence No. 386/20. Beacon Global Wealth Management is an Appointed Representative of BIAAL which is licensed and regulated by the Insurance Companies Control Service (ICCS) – Licence No. 5101
