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.
This communication is for informational purposes only and is not intended to constitute, and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.
Italy has introduced a new ‘non-dom’ tax incentive which may see many wealthy British expats relocating to its shores, as well as convincing rich Italian expats to return. The new measure was approved by the Italian parliament in December as part of Italy’s Finance Bill 2017.
Many expats earn more abroad than they would at home, have lower tax liability and a range of investment options. However, despite these advantages, some fail to adequately account for one essential aspect of wealth management: