People are planning for a global life in which they can live abroad and retain their roots in Hong Kong. The downside of living abroad is that people may encounter complex tax issues due to different jurisdiction. Hong Kong has hitherto been a tax heaven with a relatively low tax rate. Other countries in fact impose a higher tax on income and even estate.

There are various insurance products which can remedy the problem by offsetting the foreign tax with the return. People can adopt proper state planning strategies to arrange and allocate their inheritance, in addition to curtailing the payable tax and other administrative expenditure. The products are designed in a flexible way to accommodate individual needs.

One should bear in mind that tax avoidance is strictly illicit and prohibited. However, effective tax planning can substantially help them manage their wealth and inheritance. It is advisable to consult a reliable and qualified financial advisor for further details and tailor-made solutions.