Entrepreneurs and investors
Are you a company investor or private individual needing structuring, wealth management or relocation advice?
Many of our clients are global business entrepreneurs. They invest in different asset classes around the world, in multiple territories and sectors. Many have homes in different countries, and business interests in many.
They may work at a senior level for an international business, as a founder or director, and often be sent to set up new operations in new territories. Some take their families with them so need relocation support as well as tax, start-up and in-country business contacts.
Other are private individuals with investments overseas that need ongoing tax structuring and wealth management support. Our network of wealth managers and tax advisers can give you a personal service for a seamless transition through different tax jurisdictions and countries.
What makes an entrepreneur?
By Steve Gully, Chair, Kreston Global High Net Worth Individuals Group and Director, Alex Picot Trust
Steve Gully is a seasoned fiduciary and company director with over two decades of experience in the global financial sector, excelling in roles that have seen acquisitions and changes. A former International Private Bank professional, he possesses extensive knowledge across UK property markets. Steve has served as a trusted advisor to ultra-high-net-worth families. His skill set spans Trust and Fiduciary Management, Wealth Management, Family Office services, and more, having held board-level appointments in regulated financial enterprises, trading companies, and joint ventures.
What fuels entrepreneurs? Is it the thirst for achievement? The urge to solve an unaddressed problem? Or perhaps it’s the allure of scaling a proven model into new markets? At the core of every venture lies an opportunity— one that must be feasible. Entrepreneurs are characteristically agile, adapting effortlessly to evolving conditions. Quick decision-making and swift implementation are crucial, but equally vital is the need for open communication with stakeholders throughout the enterprise journey.
Tax implications for entrepreneurs
As a business thrives, so does its tax obligation—be it corporate taxes, capital taxes, or those incurred during a partial or complete exit from the business. Thoughtful entrepreneurs align their early strategies with an exit plan, although rapid growth can sometimes sidetrack this foresight. Therefore, engaging with proficient advisors is imperative, not just for current tax obligations but also for structuring the business appealingly for future investors.
Remote work and geographic flexibility
The years 2020 and 2021 revolutionised the concept of a fixed business location, ushering in a new era of remote work. This seismic shift has enabled entrepreneurs to prioritize lifestyle choices, such as spending more time with family or choosing a domicile based on personal preference. It has also heightened competition among jurisdictions vying to attract prosperous residents through various tax incentives and business grants, sparking both policy debates and opportunities.
The role of an advisor
Given the myriad considerations, advisors to high-net-worth individuals (HNWIs) must be well-versed across a spectrum of issues. Understanding the unique motivations and goals of each entrepreneur is crucial for guiding them towards well-informed decisions regarding business structure and jurisdiction. Furthermore, entrepreneurs often seek rapid answers, making advisors’ availability a non-negotiable aspect of their service offering.
Whether you’re an entrepreneur on the ascent or an investor looking to partner with innovative minds, understanding these key facets is instrumental in charting a path to success. If you would like to discuss your requirements with one of the HNWI team, please get in touch.
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