Cross Border Pensions
Mobile global citizens will often acquire pension or retirement plans in a number of countries. At Vie International, we have years of experience of advising individuals who have cross-border retirement planning needs. Whether it is a US taxpayer who has acquired a non US pension plan or a non US taxpayer who intends to take residency in the US, we have the knowledge and skills required to work through the complex planning issues. Having access to pension and investment platforms in the US, UK and international markets coupled with our unique knowledge of the marketplace gives Vie International a distinct advantage when advising international clients.
The US tax authorities generally make a distinction between foreign pension plans that are funded by employers and those that are funded by individuals themselves. At Vie International, we advise business owners, self employed entrepreneurs and company executives on a broad range of cross-border pension solutions. Our goal is to provide pension and retirement planning advice that caters to the lifestyle needs of our clients. Plans are often designed for tax-efficiency with the ability to build an investment portfolio in the currency of the country where the retirement income will be needed. This allows the client to remove the currency risk from the plan and, in some cases, pensions can be moved to alternative jurisdictions, which can mitigate other risks such as tax and political risks.
Our pension and retirement planning team also work with non-US taxpayers with cross border as well as purely domestic pension planning needs. For individuals who plan on moving from their home country, it is important to start the financial planning process well in advance of the actual move. Once an individual has taken up their new residency, their options can become far more limited, particularly if there is a move to the US. We recommend that an individual seeks advice at least six months in advance of a move to a new country.