Category: PPLI by Country

Why offshore PPLI is one of the most useful planning tools in Asia — and the one most often mis-sold to Singapore-resident clients. Consider a recent client engagement. A Singapore-resident HNW investor who relocated from London four years ago runs a regional advisory business, holds a USD 6 million portfolio at a Singapore private bank, owns an apartment in District 10 in her own name, and has two children — one of whom now lives in Tokyo. Her wealth manager had recommended an offshore Private Placement Life Insurance policy. She came to us for a second opinion. The pitch she had been given was the standard one. Wrap your portfolio inside a Luxembourg life insurance policy and your investments compound

You sold your Australian business and moved to Dubai. The ATO stopped following you — mostly. Here is what it still taxes, and where PPLI changes the picture. There is a common, comfortable assumption among Australians who leave. The moment the residency status flips — the airline ticket, the Australian Taxation Office’s residency questionnaire, the closing of the Medicare card — the ATO falls away. Worldwide income tax becomes Australian-source income tax. Worldwide CGT becomes CGT on a narrow class of assets. For most former residents, that intuition is roughly correct. The Australian tax base contracts dramatically on departure. But it does not contract to zero. Division 855 of the Income Tax Assessment Act 1997 confines a non-resident’s CGT exposure

Australia’s 50% CGT discount is one of the world’s most generous investment tax concessions. PPLI does not replicate it. But for the right client, it does something the CGT discount cannot. Start with a sentence I would not have written before 2010: PPLI is now meaningfully usable for Australian tax residents. The Foreign Investment Fund (FIF) rules — the historical reason advisers in this market kept offshore life policies at arm’s length — were repealed by the Tax Laws Amendment (Foreign Source Income Deferral) Act (No. 1) 2010, replaced by a much narrower anti-roll-up regime that targets debt-heavy passive entities rather than diversified investment-linked life policies. The practical effect is that for an Australian-resident client, the question of holding offshore

The US takes 30% of every dividend paid to non-US investors. PPLI can reduce that — but the outcome depends on where your policy is issued, and for some clients it makes things worse. Here is the honest analysis. You hold a portfolio of US stocks. You reinvest the dividends. Every quarter, before a cent reaches your account, the US government takes 30 cents in every dollar of dividend income. This is US withholding tax — specifically, the 30% tax the United States imposes on Fixed or Determinable Annual or Periodical (FDAP) income paid to non-US investors. Dividends from US corporations are FDAP income. For a non-resident alien (NRA) holding USD 3 million in US equities at a 2% annual

You don’t live in the UAE — but your assets do. For non-residents with UAE property, investments, or business holdings, succession is the challenge that few people plan for and everyone eventually faces. You may have left the UAE years ago. Or perhaps you never lived there at all, but acquired a property during the real estate boom, or maintained a brokerage account from your years in Dubai, or still hold a stake in a business headquartered in a free zone. The UAE remains a globally attractive destination for capital, and it is entirely common for individuals who are tax resident elsewhere to maintain meaningful assets within its borders. What is less commonly understood is the succession risk this creates.

The UAE’s tax-free environment is real and valuable — for now. The structuring decision you make before you leave will define your wealth for decades. There is a moment in every internationally mobile client’s life in Dubai when the conversation changes. It usually starts with a holiday to Barcelona, or a child who has started school in London, or a business opportunity in Frankfurt. And it ends with a question that no one in the UAE is asking loudly enough: what happens to my assets when I leave? The answer, for the unprepared, is expensive. A UAE resident who relocates to Spain, France, or Germany without structuring in place faces European tax rates — as high as 30–47% — on

You do not need to live in Switzerland to benefit from Swiss private banking. But if your money is there and your tax position is unstructured, you may be leaving significant efficiency on the table. Switzerland still holds more offshore private wealth than any other country in the world. Zurich and Geneva remain the default addresses for the kind of discreet, highly personalised private banking that HNWI clients with complex international profiles require. For many of these clients, Switzerland is not where they live — it is where their money is. But location of assets and location of tax exposure are not the same thing. A client resident in Dubai, Hong Kong, or London holding CHF 15 million with a

For the right kind of high-net-worth client, Switzerland offers a PPLI planning environment unlike anywhere else in Europe. Here is why — and who it is for. Walk into any private banking conference in Geneva or Zurich and you will hear two received wisdoms about Switzerland and investment tax. The first: Switzerland has no capital gains tax. The second: Switzerland is an expensive place to be a taxpayer. Both are true, and understanding why they coexist — and how a specific structure makes them irrelevant simultaneously — is the key to unlocking Switzerland as a PPLI jurisdiction. The No-CGT Baseline — and Its Limitations Switzerland does not tax capital gains realised by private investors on securities portfolios. This is a

You bought the Algarve villa for the lifestyle. The warmth, the coast, the golf course ten minutes away. At the time, the last thing on your mind was Portuguese inheritance law. It probably still is. Most non-resident property owners in Portugal give very little thought to what happens to the villa on death – until an adviser, a solicitor, or a family conversation forces the question. And when it does, the answer is often a surprise. The Inheritance Tax Portugal Does Not Have – and the One It Does Portugal abolished inheritance and gift tax for direct family members years ago. If you leave your Portuguese property to your children or your spouse, they inherit free of any Portuguese inheritance