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Relocating assets: how best to carry out this delicate operation

The number of Italian and European citizens relocating abroad in search of better fortune is increasing significantly, mainly for work and professional reasons, but also for family and personal reasons.

This haemorrhage of people, among whom there is no shortage of large entrepreneurs at the point of collapse as a result of our choking tax regime, makes it imperative to plan in advance the various economic and property solutions with which to start a new life in the chosen place.

What complicates the move abroad is, in general, all that dense mesh of tax issues, institutional, banking, administrative, etc. relations necessary to take root in a more or less stable manner abroad. As a matter of fact, in the act of relocating abroad, there are those who will certainly have found more than one difficulty in trying to protect their assets as best they can, arrange for them to be transferred to another foreign bank and, in any case, continue to maintain a simple and practical management of them.

Delocalisation of assets: how best to provide for them

Assets that are to be relocated must be preserved: in which bank should they be invested? Will they really be safe after the relocation? What are the conditions of the contract with the new bank?

All these and many others are the questions that a citizen asks himself when making a transfer abroad of his assets.

How then? Who to turn to?

International Lawyers Associates well placed to assist clients in ever aspect of relocation: its team caters for ordinary citizens, small and large companies alike, all on the strength of its expertise in tax and estate planning.

Lawyers and tax experts have been relocating assets abroad to particularly reputable foreign banks for years. The firm has, in fact, established relationships with banks from all over the world, whose operating methods, characteristics and reputation in the area are well known.

Capital relocation abroad: how to avoid possible sanctions?

Moving one’s ‘clean’ capital, the fruit of a lifetime of sacrifices, abroad is a perfectly legal action. However, in the course and effect of this operation, mistakes can be made that can cost the citizen/entrepreneur abroad very dearly.

There are in fact very precise procedures and very strict regulations to be followed in order to avoid sanctions, which can be, as they usually are, quite steep.

International Lawyers Associates offers, in this regard, serious and professional assistance, capable of averting any possible error in the relocation of assets and avoiding any type of offence, be it tax or criminal. We specialise in legitimate tax avoidance in the relocating country and our lawyers offer the necessary Immigration, tax and legal and property advice to give the client peace of mind.

How is the relocation of assets implemented?

Turning to a team of qualified experts such as the consultants at the head of International Lawyers Associates means having the guarantee of an asset relocation operation abroad carried out in a professional manner, in a timely, precise manner, observant of all the relevant legal and regulatory rules. Typically, the team of lawyers and tax experts at this law firm associate perform the asset relocation operation following different procedures.

These include the following:

Money transfer at the border

This is a very complex operation, which requires a special notification to the competent authorities for amounts above above €10,000 euros.

If this is violated, the consequences can be disastrous.

A tax is paid and this involves a levy of 10% to 30% of the excess sum.

If the excess in turn exceeds EUR 10,000, the levy goes up and is in the range of 30% to 50%.

. Moving Money electronically as opposed to the physical transfer of money, the use of a electronic system is a safer method as it makes the transfer traceable.

Transfer through specialised companies

This operation takes place with the help of recognised and qualified brokers, such as Western Union, Travelex Money, Transfer or BancoPosta Money Gram, who take care of all transfer procedures.

However, although widespread, this route becomes very complex in the case of larger sums: the whole operation will become more cumbersome, but the International Lawyers Associates team knows no limits.

Relying on International Lawyers Associates means enjoying a well-timed, artfully executed, rule-abiding relocation of assets in which nothing is left to chance.