Taxes and
Overseas Assets
There are proper ways to handle your assets and investments that will help you reduce or delay tax liability. Through the use of tax-efficient structures, your tax obligations can be significantly reduced, allowing your investments to flourish and compound quickly over time.
Working with top-tier tax solution providers and experts, we ensure that your assets are efficiently structured for the tax jurisdictions you are exposed to. Whether you’re a local business owner, or concerned about overseas assets, let us help you mitigate your tax obligations to ensure that you and your family receive the best outcome from your assets.
We work with experts and professionals to provide solutions that are best suited for your needs. The clients that GYC has helped over the years mostly fall into four broad categories:
Local Professionals and Business owners
Singaporeans who may have dependents or assets overseas
Foreigners looking to move to Singapore (or Singaporeans whose partners are moving to Singapore)
Singaporeans moving out of the country
A broad-stroke of the types services that you may find useful include, but are not limited to:
Comprehensive Overview
Perhaps you have children studying overseas, inherited certain assets outside of Singapore, or even be engaged in courtship that transcends national borders; we can take a comprehensive look at existing assets so that you can plan for your future needs as efficiently as possible.
Assessing Tax Structures
Whether you’re a sole-proprietor or a business owner, streamlining your taxes can go a long way in optimising your income. Through efficient tax vehicles and tax deferral methods, your tax obligations can be reduce or postponed — maximising asset growth.
Matters of Transition
In moving into or out of Singapore, tax matters and jurisdictions can be complicated — they are often country-specific and relevant information can be hard to track down. Connecting you with professionals who are in the relevant sectors, we simplify the steps required for a smooth transition.
Ownership & Transfer
What happens to your overseas assets when you pass away, or when your family has a mix of nationalities? Local professionals often have a singular view of taxes that are restrained to their country’s laws. Getting a professional assessment will make sure you don’t have to pay any more than what you have to.
“I’ve been to two private banks, sat through 4 hours of meetings, and got nothing out of it, but within half an hour of this meeting it’s crystal clear what I need to do.”
Globalisation has opened up opportunities all around the world and investing in overseas and foreign assets has never been easier.
However, as your overseas investments generate interest and returns, they also have the disadvantage of being subject to immediate taxation in more jurisdictions, and sometimes even capital gains tax (CGT) when they are sold. If you have loved ones with different nationalities or residency, your legacy could be greatly reduced from overseas inheritance tax laws when you transfer your assets.