Global Mobility of Ultra-High-Net-Worth Individuals

Global Mobility of Ultra-High‑Net‑Worth Individuals is a book that may appeal to practitioners focusing on cross‑border family wealth planning and management.

Ultra‑high‑net‑worth (UHNW) families are increasingly functioning like miniature United Nations. Such families are either already diversified or in the process of diversifying, resulting from education needs, business expansion, asset protection or tax planning, etc. Ultra‑high‑net‑worth individuals (UHNWIs) appreciate the complexity of relocation issues and expect private client advisors to guide them throughout the entire process. This pushes the advisor’s knowledge spectrum from only the jurisdiction where they practice to include the countries that UHNWIs move to or from, and closer to the UHNWI’s core family members’ nationality or residence belong to.

This title provides a reliable resource for practitioners to learn the general regulations and requirements when relocating to 15 jurisdictions.^[1] The contents for each country‑specific chapter cover the law surrounding family, succession, immigration, trusts and tax (both individual and legal entities tax). That the editors chose prominent practitioners from each jurisdiction to author each chapter is a guarantee of the information’s quality.

Following the country‑specific chapters, the book explores five subjects closely linked with relocation: ramifications in succession law; pitfalls on divorce; works of art; Common Reporting Standard/Directive on Administrative Co‑operation (CRS/DAC) and beneficial tax regimes. These comprehensive explorations deal with issues that may arise upon the relocation of an UNWI and the first two subjects are of particular help in avoiding mistakes or misunderstandings that frequently occur when handling pertinent matters.

The reviewer does feel some disappointment that the book does not include popular immigration destinations like Singapore. It is hoped that the book’s geographic coverage will be further expanded in future editions, becoming an encyclopedia for good reference in this field.

The purpose of this book is (as pointed out by the editor) simply to provide a general guide to practitioners and UHNWIs. In view of the complexity of relocation and ever‑changing legal and political environment, the information contained in the book should not be regarded as a final answer to any particular case.