As the only company among its peer group with a footprint in Europe, Asia, and the Middle East, Utmost Wealth Solutions is uniquely positioned to offer compliant solutions to High-Net-Worth (HNW) individuals and families with multi-jurisdictional profiles that span continents.
We often encounter individuals who have purchased a Private Placement Life Insurance (PPLI) solution in Asia or the Middle East and plan to relocate elsewhere in the future. While a local solution may work well while the policyholder resides in Asia or the Middle East, or if they repatriate to certain jurisdictions (e.g., the UK or Australia), they may need a different solution if they relocate to a European Union country.
A non-EU PPLI may not meet the regulatory and tax qualification requirements of the target EU destination. This can lead to issues with recognition, denial of tax advantages, and conflicts of law that may complicate estate planning.
This is where our portability solutions have been extremely valuable to customers moving around Europe, complemented by our ability to offer EU-compliant solutions via advisers authorised in the Dubai International Financial Centre (DIFC).
For our Asia and Middle East-based clients, we have enhanced this valuable service by introducing our “Continuity Service”.
The Utmost Continuity Service is available to High-Net-Worth individuals who already hold a policy valued at US$1 million or more, issued by Utmost Wealth Solutions in one of our regulated markets. If the policyholder decides to relocate to an EU country where Utmost offers a compliant solution, we can offer a substitution service if it results in a more favourable client outcome.
The ability to offer our Continuity Service means that our clients continue to benefit from Utmost’s wealth planning solutions, with the assurance that their contract is designed specifically to provide tax and estate planning advantages in their new country of residence. Additional benefits may include seamless transfer of investments and a rebasing of capital for tax purposes.
For more information, we have produced a detailed guide, which is available from your Utmost sales representative.