Details of McGregor’s estate opportunity to remember Cayman Islands work
Although McGregor made his name developing tax planning trusts in the Cayman Islands, helping clients avoid punitive UK tax provisions, he also published a seminal work on UK personal injury law, served as president of the Harvard Law Association for twenty years, was Warden of New College Oxford for more than a decade, regularly shared his love of music with others by performing the work of Noel Coward and Cole Porter at private parties, and he was appointed CBE in 2014 for his services to law and education.
But it is perhaps for his wealth management work in the Cayman Islands that McGregor will best be remembered. Today the British Overseas Territory generates $1.2 billion of its GDP through the financial services industry while it is also rated by HSBC as the friendliest destination in the world for expats. Indeed, it is the only place in the world with more registered companies than inhabitants.
The collapse of foreign exchange company Premier FX in the Algarve has caused shockwaves throughout the expat investor community in Portugal, with many customers now confused as to where they go from this point.
The death of founder Peter Rextrew on June 16 appears to have precipitated financial meltdown for the firm and on the 13 August administrators were appointed.
Customers who have their expat regular savings in Portugal tied up with the forex company and anyone who has sent money to the firm, should now provide as much information as possible to the administrators.
Still wondering whether to leave your pension in the UK, or move it so that you benefit tax wise as an ex-pat? Here´s the latest update on what´s happening in the pensions world.
If you Pension Fund is still held within the UK, since April 2015 most, but not all, Pension Providers have introduced flexibility, in terms of access to Pension Funds within the UK and this is certainly proving to be very popular with many. Depending on the size of your pot you may be able to access all tax free, or alternatively access 25% tax free at the age of 55 years.