April
A five-year financial journey for a UK-based client returning to Asia
Services Provided
Private Banking Account Setup and Management
Wealth Planning
Fund Management
Client Background
April lives in the UK with her 2 children, who are currently in secondary school. She holds investment accounts in Asia and uses a UK high street bank for daily expenses. Having resided in the UK for 5 years, April is now subject to UK taxation on her global income and investment gains. She plans to relocate back to Asia once her children start university in 5 years and settle there long-term.
Client’s Goals
Despite the level of funding in her account, April’s UK high street bank provides her with insufficient level of services and support. Occasionally, her account becomes un-usable pending various reviews and provision of more personal data. The quality and range of services available through her account are limited to term deposits only.
Her assets are spread across multiple regions, leading to high maintenance costs and no unified investment strategy.
She wishes to improve the investment returns and ease of management, whilst maintaining tax compliance across the various jurisdictions where she holds an account.
Our Tailored Solutions
Oakcean assisted April in opening a European private banking account better suited to her net worth, and allowed the consolidation of her global holdings under a single management structure.
Through the new account, she subscribed to a regulated offshore non-reporting fund, to achieve compound rate of return.
Outcome
April now enjoys a premium private banking service. Her financial arrangements are clearer and easier to manage, with greater operational efficiency.
By taking action early, April increased tax efficiency on investment returns from her offshore non-reporting fund.
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