How we work with clients

Working with successful retirees to achieve their Mediterranean dream

Robert and Monica are citizens and residents of Canada who recently sold their family business. After planning to retire, the couple made the decision to become non-resident Canadians and live out their dream to relocate to the Mediterranean. This required the restructuring of assets and working on a plan for the adult next generation.

Robert and Monica's Goals

• Choose a Mediterranean jurisdiction for permanent retirement for lifestyle reasons
• Secure a residency visa in the country of choice to live
• Ensure plans are in place to secure IBC, US LLC to purchase a US recreational property
• Execute a proper Canadian exit strategy with expert help in shifting cash and investment assets abroad
• Make preparations to obtain a permanent resident visa and receive international medical care
• Make plans to create a trust for the adult next generation who will remain in Canada

Our Recommendations

• Our Canadian Family Office introduced family to Canadian tax and estate professionals to advise and finish departure planning
• Swiss Family Office advised family on Mediterranean jurisdictions that met their lifestyle and other requirements
• Swiss Investments team introduced a Swiss Private Banking counter-party for banking, credit, and custody requirements
• Canadian Office advised adult next generation to join Stonehage Fleming Next Generation Programme in London, UK to meet worldwide peers with comparable family profiles

Outcomes (To Date)

• Our Family Office in Switzerland manages the family's investment assets and manages an IBC that owns the US LLC created by Stonehage Fleming US Law
• Stonehage Fleming US Tax Advisory oversees the annual tax compliance filings of the US LLC, with Stonehage Fleming US Family Office acting as Directors
• Our Swiss Team will establish and manage a Swiss Trust for the benefit of adult next generation family members who remain in Canada

Disclaimer: Please note, all case studies have been carefully anonymised. Although scenarios are based on real life events they have been fictionalised and are an amalgamation of client experiences. All names, locations and occupations have been replaced with pseudonyms.