Intro : Multi-Jurisdictional Strategies, the Need to Know What you Don't Know

With the explosion of information and telecommunication technologies it has become much easier to invest and/or do businesses in more than one country as it was doing business in the neighboring town 25 years ago.

Today I can start before breakfast catching up with my office/asset manager in Hong Kong, at lunch Skype with the branch/investment banker in London and before dinner deal with the agent/private banker in New York, all in a single day.

This speed and ease of communication have changed the absolute need to deal with or be aware of different rule sets, laws and regulations applicable to the same “estate” or family assets in different countries, at the same time.

These different countries' rules, regulations and laws also increased the risk to lose or waste financial assets on items such as unnecessary double taxation or withholdings taxes, exchange control and administrative penalties, or be subject to legislative rules that overpowers your own intentions or instructions such as forced inheritance rules.

One can no longer plan for each country separately because of the inherent conflict of laws when dealing with multiple jurisdictions.

Thus the need for a Multi Jurisdictional Strategist to survey and navigate these different country’s rules, laws and regulations in order to ensure assets are arranged, protected, managed and eventually distributed in accordance with a predetermined and agreed plan.

A Multi Jurisdictional Strategy should be viewed as an ongoing process that evolves as one’s needs, goals, and family change, as the laws change, and as new tools and techniques are developed or law and regulations change.

It is a process of continually evolving structures, needs, growth, maintenance, and exit strategies.

Appropriate strategy requires professional thoroughness, which respects the financial capital as well as human capital of one and one’s family, during one’s lifetime and after one’s death.

The best time to plan is, is the time when you think there is no need for planning.

— Christo W. Meyer