Your Expatriation Advisor
The complexity involved in financial planning dramatically increases when you become an expatriate. We are here to help you with the answers to all your financial planning questions in order to help protect, build and maximise your wealth for the future security of you and your family.
Oreana Private Wealth is a leading provider of financial planning and investment solutions for expatriate clients living and working abroad. We believe that a disciplined approach to your financial management through a solid financial plan will aid in making your expatriate experience both fruitful and enjoyable.
What You Need to Consider
There are compliance requirements upon departure from your home country that need to be addressed, along with ‘cross-border’ issues that should be considered, such as:
- International availability of liquid assets
- Asset allocation, portfolio construction and review
- Effects of international mobility on your pension or superannuation
- Asset protection and insurances
- Foreign exchange
This is where an experienced wealth manager who is qualified and licensed to deal with these issues can really add value to your financial position, both in the short and longer term.
As expatriate specialists our services are three-fold:
- We consider the requirements for departure from your home country – if we are working with you early in your assignment;
- we will assist once you are ‘on the ground’; and
- we will also work with you in preparation for repatriation well in advance of the time of your return home.
Our advice will take into account your individual needs, circumstances and your goals for the future. Our aim is to relieve you of any potential financial worry and concern down the track and help provide you with peace of mind.
Advice Regarding Loans and Existing Assets
While living and working on an expatriate assignment, there will be a number of considerations with regard to your existing assets and any investments. For example, if you have a home, do you sell it or rent it out? A number of tax benefits may be available where you can retain your home while you are on your assignment. You might have investment properties, and we can help you understand how these and any other financial investments are treated while living overseas.
If you have an existing bank loan, it may be possible to refinance your loan at competitive rates. We can explore this option for you and introduce you to a local banker who can assist with local and multi-currency lending and deposits.
Should you need to transfer money between Asia and your home country, or make international payments, we can help you understand the foreign exchange options available and the impact of exchange rates moving against you.
Financial Planning and Wealth Creation Strategies
Investment earnings such as dividends, distributions, interest and capital gains earned while offshore may be treated differently from a tax perspective. We can assist with asset selection and investments for expats. We help you choose investments that meet your requirements and are managed in a way that suits you and your goals.
Understanding Expat Tax and its Impact on your Retirement Funds
Tax rates in parts of Asia are some of the lowest in the world and in many cases there is no VAT, capital gains or sales tax charged. Asia can offer a rich and vibrant culture, however with added benefits often come disadvantages which could include changes such as loss of company retirement contributions.
Regardless of your current stage of life, retirement contributions allow you to reap the greatest rewards as your money works for you over time. We can work with you and other specialist advisors to assist you with structuring these investments while living overseas in order to provide maximum benefit on your return home.
Protection – For You and Your Family
As part of the planning process we will consider your personal risk insurances, reviewing the possible continuation of any existing insurances, in addition to any coverage your local employer may provide. It is important to confirm these policies and their validity in each jurisdiction, and look at the best way to structure any policies to safeguard you and your family in the event that you become ill, temporarily or permanently disabled, or die prematurely.
Estate Planning – Wills and Powers of Attorney
While discussing death and Wills is not a topic that is often front of mind, it is especially important when relocating overseas. We’ll work with you to ensure you have your affairs in order and help consider any requirements such as needing Wills in both jurisdictions. Our advisors partner with specialists across the region to assess your Estate Planning needs and can refer you to legal professionals as part of your financial plan. This advice may be in the areas of trust establishment, succession planning, establishing a Power of Attorney and the responsible planning and management of your estate.
To ensure that your savings are maximised, repatriation planning needs to start early. Considerations such as maximising superannuation contributions pre-return, tax domicile, and treatment of offshore investments are key considerations. We can also review your property and lending strategies, asset allocation, ownership of assets, education funding for any children, residency and overall tax positioning. Where possible we like to commence this aspect of your financial planning around 12 to 18 months ahead of your scheduled return home.
Whatever your needs, our experienced advisors can assist you to maximise the benefits of your employment in Asia. Our advice is supported by access to market leading research, investment services and wealth management solutions. Being dedicated in providing exceptional service to our clients, our priority is delivering the best solutions and outcomes for you.
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A Licensed Financial Firm
In Hong Kong we are licensed by the Securities and Futures Commission (license no. AHX191), the Insurance Authority (license no. FB1443) and the Mandatory Provident Fund Authority (license no. IC000563).
In Australia we are licensed by the Australian Securities and Investments Commission (AFSL No: 482234, ABN 91 607 515 122).