The Association of International Life Offices has launched a series of ‘expatriate' guides to support intermediaries with clients who are thinking about moving, working or retiring abroad.
Listed under the public info section of the AILO website, a total of 11 expatriate PDFs can be downloaded to provide all the key information expatriates would need to know about the country they choose to move to, focusing in particular on the tax regime, rules of domicile, healthcare, property and other general factors they might need to know when moving overseas.
Documents are designed to focus on the most popular expatriate destinations, such as France, Italy, Portugal, Spain, Bahrain and United Arab Emirates as well as a guide for clients recently arrived in the UK.
This is the first time anyone has produced this kind of comprehensive international tax information for financial advisers, and includes a separate guide for IFAs explaining “what to do if your client is expatriating” so advisers do not feel the need to pass the client to a specialist adviser.
AILO guides have been developed says AILO chief executive Stuart Fairclough, because growing evidence suggests a greater number of Britons are planning to work, live or retire abroad over the next few years – as many as an extra six million by 2020 according to recent research – and intermediaries need help in advising those clients.
“Intermediaries can provide a valuable service advising their clients who intend to work or retire abroad. What this type of client needs is ongoing quality financial advice - and the facts about the tax planning considerations of their chosen destination. Our new initiative provides advisers with all the information they need to deal effectively with clients in this circumstance.”
To view AILO PDFs go to http://www.ailo.org/other/IFA.asp.IFAonline
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