High net-worth individuals tax planning
Facing increasingly complex global tax regulations, strategic tax planning can effectively optimise financial and tax challenges for high net worth individuals, significantly enhancing wealth management efficiency. Through appropriate tax planning, clients can not only reduce their tax burdens and ensure compliance, but also effectively protect their wealth.
PwC focuses on meeting the unique needs of high net worth individuals and families, offering comprehensive wealth and tax advisory services not exclusive to tax compliance, estate planning, and risk management. Our experienced team provides personalised solutions with optimal tax strategies to help clients achieve their wealth management goals and create exceptional value in wealth succession.
How can we help
- Wealth succession and planning for high net worth families
- Global tax consulting and compliance
- Wealth investment
Wealth succession and planning for high net worth families
- Personal, family immigration, and residency status
- Estate, trust, gift, and tax
- Family office services
- Insurance and risk management
Based on our observations, high net worth and private clients are facing opportunities and new challenges as families navigate increasingly complex wealth situations. PwC’s high net worth and private client services team assist our clients in achieving family wealth management consultation and tax compliance requirements through a global network of member firms, which together provide enhanced, customised, extended services through the implementation of appropriate structures and tools.
- Provide a comprehensive solution for the changes in tax identities of family members, including the impact of immigration on real estate investment and personal income tax, as well as the consultation on potential gift and estate taxes related to assets held by family members.
- Quantify total asset value and global tax risk; coordinate family gifts and charitable donations; global asset tax planning matters, and utilise appropriate platforms and tools for tax planning.
- Conduct a comprehensive assessment on high net worth families’ financial legacy planning, trusts, insurance, and gift arrangements to provide integrated private services. In addition, evaluate tax implications and reporting requirements by analysing family members’ domestic and international tax filings to mitigate tax risks.
- Assist family offices of high net worth individuals in addressing wealth management and compliance needs, maintaining compliance and flexibility in tax and estate planning, in addition to trust and foundation management.
Global tax consulting and compliance
- China tax
- U.S. tax
- Tax consulting and planning for other countries and regions
For families with international immigration status, the global compliance requirements and reporting process can be complex. PwC leverages its global network resources to assist high net worth clients to meet their global tax compliance requirements in a cost effective and time efficient approach.
China
- Assist high net worth individuals with monthly and annual personal income tax filings in China, leveraging tax incentives and credits applicable to family members to mitigate double taxation burdens.
- Our services also include tax compliance reporting, tax planning for high net worth individuals, in addition to ongoing consultation regarding personal income tax and tax reforms in China.
- Communicate and coordinate with Chinese tax authorities and other government agencies, offering consulting services related to tax self-assessments and audits.
Please visit PwC China’s individual income tax controversy and dispute resolution webpage.
U.S.
- Provide tax planning services for high net worth individuals and their businesses, including annual tax filings, information disclosure reporting related to overseas investments, and comprehensive calculations of global income taxes.
- Assist U.S. founders of pre-IPO companies with analysis and consulting on long-term tax planning including the tax implications and recommendations for organisation restructuring, and tax advice on the process of selling shares.
- Consult on the gift and estate tax planning on the establishment of trusts for U.S. individuals and families.
- Plan and advise on private foundation set-up.
Please visit the PwC China and U.S. individual income tax compliance and consulting services webpage
Other countries and regions
- With our global network of member firms (i.e. Hong Kong, Singapore, and Canada), we provide personalised support to high net worth families to comply with local tax laws and regulations with other countries and regions.
Wealth investment
- Estate tax and property tax
- Cross border investment
Estate tax and property tax
Proper tax planning is critical for the wealth management and legacy of high net worth families. Many high net worth families and the next generations are facing challenges related to the gift tax and estate tax in the countries and regions where they have long-term residency. Without appropriate planning in advance, the wealth passed down to the next generation may be significantly reduced.
- Focus on global estate planning for families with worldwide assets, including reviewing existing documents and arrangements, assessing total asset value, and providing multinational tax planning and consulting.
- Collaborate with other professionals and agencies (such as lawyers, trust companies, and wealth management firms) to assist high net worth families in effectively planning for the proper wealth succession.
Cross border investment
It is important to understand the implication and responsibility of owning real estate and tangible assets in multiple jurisdictions for a high net worth family who invest globally. In addition, having different tax residencies may have various tax impacts on cross border investments and transactions.
- Provide analysis and advice on cross border investment in terms of property ownership structures, trust management of assets, and corporate or equivalent frameworks.
- Provide relevant advice on global investment reporting requirements, tax planning considerations, impacts of foreign currencies and exchange rates, and the requirements for accurate tax filings.
Contact us
