Non UK Resident owning UK property

Non UK Resident owning UK property

Case Study

Case Study

 

The client's profile

  • Mr and Mrs Zhao are both 65 and are Hong Kong nationals and residents with significant UK IHT liability

  • They have built up a significant UK property portfolio (£10m) over the past 20 years

  • IHT liability: £4m

  • They have two adult children who they will steadily gift the properties to

Solution

  • The policy is subject to English law

  • Joint Life second death term of 20 years

  • The level annual premium is £21,000

Outcome

  • Clients met in Singapore and signed policy documents

  • Medical examination carried out in Hong Kong (Singapore & London were also options)

  • Term selected to provide both IHT protection over the period of ownership and cover the period over which the properties are gifted

  • Fixed level premium gives clients certainty that IHT liability can be met in GBP (avoiding any need to liquidate property to met liabilities)
Our proposition

Our proposition

Our solutions

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  Universal Life Insurance Pure Risk Product
Fixed Premium No Yes
Guaranteed death benefit No Yes
Investment related Yes No
RDR compatible No Yes
CRS impact Reported Not reported
Suitability for Trustees to acquire On going advice investment return Suitable
Currency Choice USD, HKD, SGD GBP, USD, EUR, CH
Joint Life Last Survivor No Yes
Joint Life No Yes