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Estate planning for the international investor: A comprehensive guide

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This guide will show you how to use these options in your estate planning.

Planning for the future is crucial, especially when it comes to protecting your wealth and taking care of your family. This is even more important for investors who spread their investments across different countries.

Estate planning for international investors
For international investors, estate planning is about creating a legacy that spans multiple jurisdictions, protecting assets from political and economic uncertainties, and ensuring that loved ones have security and stability· Effective estate planning requires a deep understanding of different legal systems, tax laws, and investment opportunities worldwide.

1. Understanding residency or citizenship
Including residency or citizenship options in estate planning is a smart move for international investors. These options offer added security and flexibility for protecting assets and ensuring a stable future for loved ones· One smart way to do this is by looking into residency or citizenship options in other places. This is known as “citizenship by investment·” This is particularly appealing for investors seeking to diversify their assets and secure their family’s future.

CBI programs allow investors to access a range of benefits, including visa-free travel to numerous countries, tax advantages, and increased personal security· By obtaining a second citizenship or residency, investors can protect their assets from political and economic uncertainties in their home country·

Moreover, residency or citizenship options open up new opportunities for global mobility. They allow investors and their families to live, work, and study in different countries, enhancing their personal and professional experiences· This global mobility can also offer access to better education, healthcare, and business opportunities.

2. Navigating legal and tax implications
In estate planning, it’s crucial to consider the legal and tax implications involved. Each country has its own set of laws regarding residency, citizenship, and taxation, which can greatly impact an investor’s estate plan· Working with legal and financial professionals who specialize in international law and tax planning is essential to navigating these complexities effectively.

Understanding the legal requirements and tax obligations associated with residency or citizenship in different countries is vital. This includes considerations such as inheritance laws, estate taxes, and reporting requirements. Failure to comply with these regulations can result in penalties and complications for the estate.

Furthermore, investors must stay informed about any changes or updates to the legal and tax landscape in both their home country and the country where they hold residency or citizenship. This ensures that their estate plan remains up-to-date and compliant with relevant laws and regulations.

3. Choosing the right citizenship by investment program
Not all citizenship by investment (CBI) programs are created equal, so it’s essential to carefully evaluate your options before making a decision. Consider factors such as the investment amount required, the type of investment allowed (e·g·, real estate, government bonds, donations), and the benefits offered (e·g·, visa-free travel, tax advantages).

Additionally, assess the legal framework and reputation of each CBI program, as well as the processing times and residency requirements involved· Conduct thorough research and seek advice from professionals with experience in international citizenship and residency planning to ensure you choose the program that best aligns with your estate planning goals and personal preferences.

4. Implementing your estate plan
Once you’ve chosen the right option and developed a comprehensive estate plan, the next step is implementation. This involves taking the necessary steps to acquire residency or citizenship, as well as updating your estate planning documents accordingly.

Tasks may include setting up trusts, drafting new wills, updating beneficiary designations on accounts and policies, and ensuring that all legal and tax requirements are met· Regular reviews and adjustments to your estate plan are also essential to account for any changes in your personal circumstances or the legal and tax landscape.

Conclusion
Estate planning for the international investor is a process that requires careful consideration of how to protect and grow assets across borders. By incorporating residency or citizenship options through “citizenship by investment” programs, investors can secure their legacy and offer their families unparalleled opportunities for stability, mobility, and growth. This guide underscores the importance of strategic planning and professional guidance in navigating the complexities of international estate planning. With the right approach, investors can achieve a comprehensive estate plan that safeguards their wealth and secures their family’s future in an uncertain world.





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Cretan resort brand launches traditional house for Summer 2024 season

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Crete’s authentic charm unveiled at the new Phāea Traditional House.

CRETE, GREECE – This 2024 summer season, travelers are invited to experience the perfect balance of tradition and minimalist luxury at the newly opened Phāea Traditional House in the ancient Cretan village of Κoutouloufari. Seamlessly blending with its stone surroundings, this residence, accommodating up to five guests, is deeply rooted in the destination as part of the conscious luxury Greek hospitality brand Phāea. The island’s traditions underpin everything, ensuring that guests feel more akin to residents than visitors as they stroll from their home into the village, embracing island life as it’s meant to be lived, slowly.

Phāea Traditional House

Meticulously restored, this enchanting, self-catered house showcases design that pays homage to a bygone era while incorporating modern-day amenities. Hand-woven textiles – revered by collectors – punctuate the rooms, offering a comforting nod to this time-honored tradition. Ceramics and wooden furniture also accent the living area, each piece representing the celebration of craft and culture of Crete.

Phāea Traditional House

Guests will find a fully equipped kitchen, allowing them to make themselves at home and collect local produce for a Cretan-inspired feast. The living room, complete with a fireplace, provides an inviting space for socializing or unwinding after a day exploring the undiscovered gems of East Crete.

Phāea Traditional House

Stylish and private, the Phaea Traditional House offers couples and families alike the comforts of a holiday home with all the elements of escapism. Imagine long, languid afternoons at nearby Hersonissos Beach before meandering back home through the village’s narrow streets and tree-lined squares where locals meet to sip raki. Guests can look up and be in awe of the rugged beauty of the Pyrgias mountains where nature abounds.


Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor’s degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.

She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.






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ChatGPT will create jobs and not replace them, hears Advantage conference

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Agents told they will ‘get through’ period of technological evolution



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BestPrice travel to promote the image of Vietnam at New York’s times square

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This is a self-run activity of BP Group – the holding company of BestPrice Travel, intending to support underprivileged individuals in Vietnam.

On April 9th 2024, BestPrice Travel promoted its “Taste Vietnam” campaign in New York Times Square, proudly presenting the image of Vietnam to the whole world.

Though it was not the first time Vietnam appeared on a billboard at New York’s Times Square, this one came differently. In just 15 seconds, the country was presented with a combination of all landscapes, cultures, and cuisines in one message “Taste with BestPrice Travel”.

Burning desire to bring Vietnam tourism worldwide
Promoting the image of Vietnam at New York Times Square is the initial move in BestPrice Travel’s internalization strategy – the travel company’s genuine desire to make Vietnam’s beauty known to the world.

As an online travel agency, BestPrice Travel provides cruises, tours, and other services for foreign tourists visiting Vietnam and Southeast Asia.

With advanced technology and professional staff, the company has managed to provide services for thousands of inbound tourists every year, receiving numerous certificates and awards, namely 8 years of Travelers’ Choice on TripAdvisor ‘til 2023, nomination for the World Travel Awards 2024 as Vietnam’s Leading Tour Operator & Vietnam’s Leading Travel Agency, and the Prospect Travel Agent Award at the Vietnam International Travel Market 2024.

After 14 years of continuous growth, BestPrice Travel decided to renew the image of the company as well as Vietnam tourism, getting closer to its customers, who live thousands of miles away. Whereby, in February 2024, the “Taste Vietnam” campaign kicked off, targeting European, US, and Canadian markets.

“Taste Vietnam” – The combination of Vietnamese values
Beyond a promotion campaign, “Taste Vietnam” is a chance for BestPrice Travel to provide its customers with genuine values of Vietnam, bridging the distance gap and forging the bond between foreign tourists and the country.

Through “Taste Vietnam” tour packages, visitors are entitled to multisensory experiences, from admiring the magnificent landscapes to tasting the excellent cuisine and joining the off-the-beaten-track traditional activities.

In addition, it is not only experiential but also sentimental values that “Taste Vietnam” could bring to its customers. With every booking successfully purchased, US $1 will be used for charitable purposes. This is a self-run activity of BP Group – the holding company of BestPrice Travel, intending to support underprivileged individuals in Vietnam.

At the moment, BPG Foundation, the fund community under BP Group, is associating with Blue Dragon Children’s Foundation, which rescues, protects, and supports homeless children as well as victims of trafficking in Vietnam. Accordingly, with US $1 from your pay, you would indirectly give a hand to better the life of thousands of Vietnamese kids and people in need.

Save the children’s lives through “Taste Vietnam” campaign
The potential of Vietnamese tourism has never been greater. As a leading company in the industry, BestPrice Travel is relentlessly taking the chance to spread the beauty of Vietnam to the whole world while contributing to the country’s social development. More than ever, your booking matters right now. Let’s book the trip and join the hashtag #TastewithVietnam!

For detailed information about the program, please visit bestpricetravel.com or WhatsApp (+84) 904 699 428.





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