The capital market in 2017 was stirred by a series of heavy blows. On one hand, there was the fluctuation of the RMB exchange rate; on the other, the Federal Reserve's interest rate hikes and balance sheet reduction. Under this dual pressure, policies followed one after another, the Chinese version of the CRS global tax system was officially launched, and there were undercurrents beneath the calm surface of China's foreign exchange controls.
For a long time before the exchange of CRS financial tax-related information, high-net-worth individuals achieved global asset allocation through offshore accounts and trust structures. Today, influenced by the continuous deepening of CRS and policies such as foreign exchange controls, how to combine offshore structures to achieve wealth preservation and succession while promoting the internationalization of family businesses and minimizing tax costs is a challenge that high-net-worth clients must face in their global asset allocation under CRS.
When your cross-border asset allocation meets the CRS global tax system, how can you respond efficiently? As the saying goes, "soldiers are met by the general, water is blocked by the earth," so what should high-net-worth individuals do regarding cross-border asset allocation in this new situation?
With the implementation of CRS, the offshore tax havens previously favored by high-net-worth individuals, such as the Cayman Islands, Bermuda, and the British Virgin Islands, have fallen. Many people have engaged in tax planning to solve the tax issues of their overseas asset allocation, but in actual practice, they have found that under CRS, they face not only tax issues but also issues closely related to identity planning, family wealth, and asset allocation.
For global asset allocation, identity comes first. Possessing a convenient overseas identity will be the starting point for global asset allocation. Top-tier Commonwealth passports, such as those of Saint Lucia, Dominica, Antigua and Barbuda, Saint Kitts and Nevis, and Vanuatu, are highly sought after by high-net-worth individuals for their high cost-effectiveness, powerful functionality, and status as tax havens.
Taking the Saint Lucia passport as an example, Saint Lucia is a world-class tax haven, exempt from property tax, gift tax, inheritance tax, estate tax, and capital gains tax. It is also one of the few non-global tax countries, imposing "0" tax on the overseas income of its citizens. This not only effectively saves tax costs for global asset allocation but also reasonably addresses the impact of the CRS global tax system.
In addition, as a world-renowned offshore financial center, Saint Lucia allows you to easily open offshore companies and offshore accounts with a Saint Lucia passport. Leveraging the advantages of Saint Lucia as an offshore center is more conducive to allocating RMB assets into USD assets, reasonably conducting diversified global asset allocation, and perfectly achieving asset preservation and appreciation.
How to apply for a Saint Lucia passport?
Choose WorldWay for your Saint Lucia passport and make your immigration journey easier! With an investment starting from just $100,000, you can quickly obtain a Saint Lucia passport for three generations of your family! Immigration is a long and complex process, and choosing a formal immigration agency with good government relations is very important. As a pioneer in Commonwealth passport programs, WorldWay Group has always maintained good interaction, trust, and cooperative relations with the government of Saint Lucia.
WorldWay executives have visited and been visited by government officials such as Saint Lucia Prime Minister Allen Michael Chastanet and CEO of the Citizenship by Investment Unit, Nestor Alfred, multiple times. WorldWay Group is also the only immigration agency in China to have been received by the Prime Minister of Saint Lucia. Being able to provide investors with timely official information and having a comprehensive service network in Saint Lucia will be a solid backing on your immigration journey.
Working together to create brilliance, 20 years of prestige! As WorldWay Group celebrates its 20th anniversary, to thank new and old clients for their support and trust over the past 20 years, we are launching the "WorldWay Group 20th Anniversary, Grateful Celebration and Comprehensive Rewards" campaign from now until November 12, 2017. During the event, WorldWay Group is offering numerous major discounts to share the joy with investors. For details, please call: 400-138-2929.
