Overseas immigration has become increasingly popular over recent years. Although the United States, the United Kingdom, Canada, and Australia have traditionally been the top immigration destinations, many European Union and Asian countries/regions have also introduced favorable policies recently to attract overseas talent and capital, including Taiwan, Portugal, and Ireland.

Despite varying immigration thresholds, one hurdle remains common to all immigration destinations: A complex and high taxation. As Hong Kong has always practiced simple and low taxation, tax planning is often overlooked. Immigrants who move from low-tax jurisdiction to high-tax jurisdiction can easily end up in a “global tax net”, which subjects them to heavy taxation such as overseas income taxes, capital gains taxes, and even estate tax that could reach 40%. Setting a “trust” as early as possible is an excellent way to reduce taxes in your immigration process while preserving assets flexibility to support your life seamlessly overseas.

Preparation before immigrating: Setting up a trust

A trust, in the most straightforward sense, is to entrust assets to the most “trustworthy” professional “custodian”. It is a high-standard legal arrangement consisting of three major key players: the “settlor”, the “trustee”, and the “beneficiary”. When a “settlor” has a need for wealth planning, he or she can enter into a trust deed with a “trustee” to convert the personal property into trust property. The “trustee” must manage the property and allocate them to the “beneficiary” in accordance with the purpose of the trust deed.

For example, if you set up a trust with UTGL before immigrating, you will become the “settlor” and UTGL would be the “trustee”. By placing property into the trust, the ownership will be converted from under your name to that under your trust. Since the property is no longer under your name, such legal asset segregation solution will not only reduces or defers taxes for you, but also provides a firewall against potential asset loss due to marital breakdown, debt collection, or other overseas political risks.

Life after immigrating: Living in a trust

Additionally, many people are concerned about how their trust assets can be utilized to support their living expenses upon arriving in their new country. Worry not. As our client, you will be assured of comprehensive support.

Unique features (1): Offshore bank and investment sub-accounts

Aside from asset isolation and risk segregation, setting up a trust with us would also allow you to deploy trust assets flexibly to different offshore sub-accounts through our global banking and investment banking network (i.e. U.S and Singapore) through a simple instruction. Thus to further invest globally and continue to add value to your assets.

Unique features (2): High privacy asset-linked credit card

UTGL asset-linked Credit Card and global bill payment function are indispensable tools for immigrants. No matter where you are in the world, you can make purchases with your trust assets at any location that accepts Mastercard. The limit of your credit card is associated with the value of your trust account. Your Mastercard has no limit, so the higher the asset value in the trust, the higher the credit card limit. Moreover, with UTGL asset-linked Credit Card, every purchase is made in the name of an institution, ensuring your complete consumption privacy. Furthermore, you can customize the cardholder’s name on the card, allowing you to create your own unique black card.

Unique features (3): Global bill payment

In addition to high-privacy unlimited credit card purchases, global bill payment feature can help you make payments anywhere around the world with your trust assets, including rent, property management fees, insurance fees, utility bills, children’s tuition, etc., thereby creating a worry-free post-immigration life.

Unique features (4): All-in-one Fintech Trust Platform

Sound complicated? That’s why the our team invested a great deal of resources into building an “All-in-one Fintech Trust Platform”. With the UTGL platform, you can connect to the world and place all instructions in one place. With features like asset deposit & withdrawal, currency exchange, offshore custody, investment and wealth management, credit card settings, global bill payment, etc., you can save valuable time and focus on things that matter.