Expats in any country
most of the time feel insecure due to lack of proper financial planning. To make
correct financial planning expert guidance and advice is always needed. The
expert financial
advisor always makes the best effort to support customers for planning.
Dubai is one such
destination of the world which acts as a home to a huge percentage of expats
from different parts of the world. Dubai expats need the guidance and support
of such experts who can open up new avenues in front of them to plan for future
well. Stefan Terry is one such expert of the financial world in Dubai on
whose suggestion you can blindly trust and can make your future secured.
Types of
planning which expats must due in Dubai
Estate
planning: Estate planning solutions are made for High Net worth Individuals and to get
the best assistance in this regard getting in touch with the experts of Expat Wealth Care will always be the best option. The areas which are to be
considered for proper estate planning are
Ø Investment planning related to accumulation of capital
Ø Tax Planning
Ø Distribution of wealth
Ø Succession in planning
Ø Tax implications such as inheritance tax etc
While doing the
investing planning the expats may think of the amenities that they can get from
these planning. Check out the list below
Ø Application of highly
governed security is done
Ø Confidentiality is
another important advantage in this plan. Minimal reporting for the assets of
the expats within these jurisdictions is done
Ø The biggest advantage
for Expats is that these investment planning will not be included with any tax
on capital gain.
Ø A perfect structure
of estate planning is included without any tax liability. So, it can be said
that the gross roll up is always available without any tax liability.
Ø With this wealth care
plan, one can become able to protect the assets.
Ø These investment
management planning is included with mutual funds, investment in direct stock,
investment with structured notes, modified non-listed funds and many more.
Retirement
Planning: Retirement
planning is one of the important decision of life which if not done properly
can hamper the well being of a person in retired life. Everyone needs to opt
for timely planning for retirement so that after retirement one can get the
best benefit. People who lives as an expat in a country, he or she should take
necessary step to have proper offshore pension plan. To get in touch with Stefan Terry will be the best option. His guidance and advised planning
options will also be extremely helpful in getting the best tax saving.
This is also important to know whether these retirement plans
are governed by Tax implications and Act of Government Pension or not.
Generally these expat retirement and pension plans are not governed by these
rules and hence the growth is completely tax free. The selection of the
retirement age is totally dependent on the customers themselves and at the time
of retirement they will be able to draw the maturity amount. These offshore
pension plans is available with greater flexibility.
Investment
advice and expert portfolio management: For doing proper financial planning, having perfect advice
from professionals is a must. The professional planners will do the necessary
task for helping the expats in having the best plan. They work directly with
many reputed financial organizations which always deal with lots of financial
planning. In the market these expat investment planning are widely accepted. Such
planning's are able to give a good return of 7 to 8 percent per annum. The
famous Financial Planner always offers the best service so that you can easily
opt for the best plans like
Ø Education plan for the
children
Ø Savings on any existing
portfolio
Ø Savings in cash within
your bank account
The customers will also
be able to visit the client portal from where they will get the real time
valuation. Expats here will also be able to get in touch with various
analytical tools which will help to review the performances done by these
professionals.
Proper
education planning: While expats are opting for proper
planning for wealth management, they also need to take a look at the best
education planning so that in future children will not suffer at time of opting
for higher education. Recent days, the cost of education has gone up a lot and
hence proper planning for education is a must.
This is always necessary to think about doing investment in
children’s education plan quite in advance. The experts will guide all to have
the best solution in having the best education plan. The expert will suggest
the expats how they can spread the expenditure regarding education over many
years so that there will not be any burden on any particular year.
Investment in SIPP: SIPP or famously known as Self
Invested Personal Pension plan is an excellent tool for those who are retired
and living as expat in a country. In the countries like UK, SIPP has become too
famous. SIPP is a bit different than that of simple pension plan. SIPP falls
under the HMRC tax rule in UK and hence tax will be applied on the drawdown
amount in the person resides back in the country.
Investment
in QROPS and ONUPS: Qualifying
Recognized Overseas Pension Scheme in short QROPS is the perfect plan for those
who do not want to retire in UK and those who want to transfer the pension
drawdown to other countries. This is tax free pension but this depends on the
jurisdiction where the pension amount is going to be transferred. This is also
dependent on the rules of double taxation of the country.
ONUPS is another special pension
scheme for those who are non-residents. This scheme is also under HMRC.
According to this plan, the assets and cash which are not eligible for having
relief under tax rule, will be contributed.
Those above mentioned three
schemes, SIPP, QROPS and ONUPS have become quite famous in recent days and
these will control the pension earned by the expats. While any expat is going
to have these schemes, he or she will be thinking regarding the benefits that
they can have. Here we can take a look at the benefits that are available while
having these pension schemes.
Ø These schemes will provide 100
percent value of the pension to the family of the pension holder.
Ø With these schemes, it will be
easier for you to accumulate all pension schemes under one wealth management
scheme according to the date of retirement etc.
Ø These schemes can be controlled
by the persons themselves. The expats can control the process of their own.
Ø The expats are eligible to access
the personal client portal and this will offer them to have the perfect
analysis of the performance.
Ø These are actually a tax free
income however the tax liability depends up to the country of residence at the
time when the amount is withdrawn.
Offshore Banking: Offshore banking is also known as the best way to do wealth
management. Stefan Terry Dubai guidance will assist in having the best
offshore banking. The professionals always work nicely with various reputed
offshore banking corporations to offer the best help.
Planning
with life assurance: Life assurance is known to
be the base for a secured future. Life Insurance is a must to opt planning
choice to protect your family from any uncertainty.
Ø This will cover the
mortgage involved with any property. Hence, the family of the expat will face
relief.
Ø This scheme is able to
cover the cost of education of the children.
Ø This is the best way to
plan for inheritance tax.
Ø Proper planning for life
assurance will be great for having an income to the family.
The professionals are
always in direct connection with the various professional health insurance
companies and thus they can offer the best advice and guidance.
Here every expat in Dubai
must be thinking of how to get in touch with the famous and reliable
professionals to get the best help. Well, the best option is to go through the
website of Expat Wealth Care. From
the website it will be easier to know how these professionals are assisting and
offering the best advice.
From the website, one can
go through the testimonials section to get a complete idea regarding the
exposures of these professionals for wealth management can be obtained.
Again, if anyone is
thinking of how to get in touch with these professionals then all need to fill
up the contact form mentioned in the website. In the contact form, every
necessary detail is required to be mentioned such as name, phone no, email id
and the type of financial assistant a person is looking for. After submitting
the contact form, the professionals will take a look at your application and
will contact with you at the earliest.
