BY MARCOS ALMEIDA
A recent visit to Mexico confirmed the future is bright for South Americans looking to enjoy the benefits of international structures and participating in offshore opportunities.
There is a growing interest by onshore South American professionals in educating themselves about the opportunities abroad and how to structure those to suit their high net worth individual clients (“HNWI’s) looking to expand holdings in the international space.
A core group of professional advisors in LATAM have been hard at work changing perceptions of offshore structures, formerly linked to politicians and corruption scandals.
As the HNWI’s in all countries look to grow their interests and diversify their portfolios they require sound advice from their in-country professionals and access to qualified professionals in their chosen international jurisdictions.
STEP LATAM, held in Mexico City from the 4th to 5th October 2018 brought together hundreds of professionals from LATAM and the rest of the world. Participants covered the necessary reporting requirements that offshore structures currently face in South America.
Recent tax amnesties and tax rules were discussed. Recent cases such as The Samsun Trust, Investec vs. Glenalla Properties Ltd and The Ritz – Carlton “event” were reviewed in detail.
The world of cryptocurrencies was under the spotlight with a general acknowledgement that there still remain unanswered questions regarding keeping crypto assets safe. Concerns were raised over the collection of data and data protection.
As with other developed countries, there is a growing acceptance of international structures, such as international trusts, business companies and foundations. And like other countries there are growing numbers of HNWI’s who call on their professional advisors to connect them with those growing opportunities internationally.
If you require an onshore or offshore professional advisor in the South American market feel free to reach out to Marcos – firstname.lastname@example.org