Beyond the UK Budget: Building a Resilient Wealth Strategy with Forth Capital’s Private Banking and Family Office Services
As the UK Budget approaches, many Ultra High Net Worth Individuals (UHNWIs) are contemplating how the anticipated tax changes and regulatory shifts will affect their UK assets and business interests. While immediate concerns like tax increases and tighter regulation are front of mind, the long-term implications for wealth protection and estate planning are equally critical. In this uncertain climate, Forth Capital’s private banking and family office services offer UHNWIs the tools to build resilient wealth strategies that extend far beyond the immediate impacts of the UK Budget.
The need for a well-structured, long-term wealth protection strategy
with a global perspective, has become paramount.
With the Labour government targeting higher earners for revenue generation, UK resident UHNWIs are facing the prospect of significant increases in capital gains taxes and the potential introduction of a punitive new UK exit tax - so the urgency of developing a robust wealth protection strategy to address these prevailing challenges has become even more pressing.
At Forth Capital, we specialize in helping High Net Worth Individuals and UHNWIs navigate complex international financial landscapes, ensuring that they can maximize opportunities globally.
The benefits of International Relocation
For many UHNWIs, relocating from the UK to a significantly more tax-friendly jurisdiction represents an effective solution to the challenges presented by the upcoming Budget, and the fiscal reality of their UK tax burden after the Budget and beyond.
The five most popular destinations that UHNWIs are moving to from the UK include the UAE (specifically Dubai), Australia, the United States, Switzerland, and Portugal.
1. United Arab Emirates (UAE) – Particularly Dubai
Dubai has emerged as one of the most popular destinations for UHNWIs, particularly due to its tax-free regime. The UAE offers a highly attractive environment for wealthy individuals seeking to minimize their tax burden. With no personal income tax, capital gains tax, or inheritance tax, Dubai provides an unparalleled financial haven for those looking to preserve their wealth.
Moreover, Dubai provides all of the necessary components required to lead a luxurious lifestyle, with world-class amenities, exclusive real estate, and a strong sense of personal security. The city's growing reputation as a business hub, particularly in finance and technology, also makes it appealing for entrepreneurs and investors. Easy access to international markets from Dubai further strengthens its appeal.
2. Australia – Particularly Sydney and Melbourne
Australia has long been a top choice for UHNWIs seeking both quality of life and political stability. The country's major cities, like Sydney and Melbourne, offer a vibrant economy, a high standard of healthcare and education, and an overall safe and welcoming environment.
While Australia doesn’t offer the tax-free advantages of the UAE, it does provide favourable tax opportunities depending on residency status and wealth structuring.
For UHNWIs, Australia’s stable political environment and strong property market provide an attractive destination for long-term wealth protection. Its geographic isolation also makes it a safe and desirable location in times of global uncertainty.
3. United States – Particularly Miami, Florida and Texas
The U.S. remains a highly attractive destination for UHNWIs, particularly tax-friendly states like Florida and Texas. Both states offer no state income tax, making them attractive for UHNWIs seeking to mitigate tax exposure. In addition, the U.S. provides significant business and investment opportunities, particularly in technology, real estate, and financial markets.
Cities like Miami and Houston have become epicentres of luxury real estate, with a growing international presence. The country’s reputation for innovation and entrepreneurship further adds to its appeal for individuals looking to grow their wealth.
4. Switzerland
Switzerland remains a long-standing favourite destination for UHNWIs. Switzerland’s strong reputation for discretion and security makes it a prime location for those seeking to safeguard their wealth.
Switzerland offers political stability, luxury real estate, and some of the best healthcare and education systems in the world. Its central location in Europe also allows easy access to international business centres.
5. Portugal – Especially Lisbon and the Algarve
In recent years Portugal has increasingly become a hotspot for UHNWIs due to its Golden Visa program, offering residency (and eventually citizenship) in exchange for real estate investment. This program has attracted a significant number of wealthy individuals, particularly from the UK, who are seeking both lifestyle benefits and tax advantages.
Portugal’s Non-Habitual Resident (NHR) scheme offers a 10-year tax holiday on foreign-sourced income, including pensions, dividends, and capital gains, which makes it highly attractive for retirees. The country’s mild climate, beautiful landscapes, and growing reputation as a hub for entrepreneurs further enhances its appeal.
Forth Capital's Approach
Forth Capital, with its ability to draw on more than twenty years of international cross-border financial planning and wealth management expertise, offers bespoke services tailored specifically for UHNWIs looking to diversify and protect their assets globally.
We specialize in helping Ultra High Net Worth Individuals
navigate complex international financial landscapes,
ensuring that they can maximize opportunities globally.
With a deep understanding of international jurisdictional regulations and decades of experience, Forth Capital provides comprehensive solutions that go beyond conventional wealth management.
From bespoke advice on financial planning in relation to international relocation, to tax-efficient wealth structuring and investment portfolio diversification, Forth Capital delivers a full suite of services designed to secure your financial freedom and long-term prosperity.
Forth Capital’s family office and private banking services stand out by offering a holistic approach to wealth management. From asset protection to tax optimization and estate planning, we ensure that every aspect of our UHNWI clients financial life is meticulously addressed. This approach allows our clients to focus on their personal and business endeavours, safe in the knowledge that their wealth is being managed by an experienced senior wealth manager with extensive multi-jurisdictional experience.
Forth Capital delivers the perfect balance of expertise,
high touch service, accountability, and value.
As the UK Budget introduces new challenges for UHNWIs, a resilient wealth strategy with a global perspective becomes essential. Forth Capital’s private banking and family office services
are designed to protect and grow your wealth in the face of these prevailing challenges.
Speak with us to explore your options
As the Budget draws closer, now is the time to explore your options.
To schedule an initial consultation contact us today or email us at [email protected].
This communication is for information purposes only and does not constitute financial, legal, or tax advice. Please schedule a meeting to receive advice on international financial planning and wealth management.
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