eprivateclient reports today on a recent webinar co-hosted by Hetal Sanghvi of our Tax team and Michael Powell, head of Hawksford’s India desk, addressing the topic of cross-border wealth structuring for global Indian families alongside the impact of the COVID-19 pandemic highlighted the uncertainty that international families are facing and the need for advisers to provide clear guidance and flexible wealth structuring options.
Ms Sanghvi said that the pandemic has caused many Indian clients to consider their own health and the long term planning of their assets and structures: “From speaking to clients based in India, I have had many conversations about what structures are already in place and families are starting to think about how future generations will be able to access and manage this wealth. Many families have members living in different parts of the world and consideration must be given to how the structures that are in place will be perceived in those jurisdictions; I have worked with a South African family of Indian origin relocating to the UK whose structures held in Liechtenstein did not stand up to scrutiny. Getting structures in order with a thorough health check is a priority. Global families are having to think about their residency in greater detail and the pandemic is bringing these issues into sharper focus.”
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