Immigration Trust

The first relevance in dealing with a trust distribution to non-resident beneficiaries pertains to an understanding of how such distribution occurs, the amount of tax and reporting requirements attendant in such situations. A trust distribution to non-residents simply means transferring assets or incomes to a beneficiary residing outside the country where the trust was set up. These distributions are under various tax laws and come with a lot of complexities. More importantly, a trust distribution may be considered to be a non-resident beneficiary, which may be complex, especially those that involve international tax laws.

Emigration into another country can be a very involved process that includes many different legal, tax, and financial issues. Pre-immigration tax planning can certainly help to make a smooth transition even easier, especially for high-net-worth individuals. One helpful mechanism within pre-immigration planning is the pre-immigration trust. This, in addition to determining pre-settled status and planning income appropriately, will allow the management of one's wealth efficiently and avoid possible tax liabilities resulting from immigration.