Supporting a Canadian business owner relocating from Geneva to the US

The situation

A Canadian entrepreneur and business owner who spent many years working in Canada and Europe. She is currently a resident in Geneva but spends time between the UK, Canada and the US, where her relatives live, including her two adult daughters. She has decided to relocate to the US. The relocation process will involve a complicated restructuring of her international business and personal interests, including a large art collection. 

The client’s goals

• The client would like to relocate to the US.
• She wants to have clarity around her tax position, property and possessions internationally. 
• She would like to ensure the maximum assets possible are passed down as her legacy to her children and wider family overseas.

Our approach

• The Family Office team analysed all the jurisdictions where she has been a resident or has a tax footprint to understand her existing structures and make recommendations to maximise tax efficiency and meet the long-term needs of her family.
• We conducted a review of all her existing business roles and directorships to assess how becoming a US tax resident might affect such positions. 
• The Art Management team will review the art portfolio and develop a clear strategy for its management and protection.

Outcomes to date

• The Family Office team supported the client through all the relocation logistics. They helped set up both US and offshore bank accounts, arranged medical insurance policies, a medical concierge for the family and arranged for the purchase of a car. 
• The Family Office team established and provides ongoing support to three family trusts, for which we act as fiduciaries and trustees.
• The client now has a structured approach to managing her family legacy, with our recommendations addressing succession planning, asset structuring and the protection of her art collection.

Disclosure: Case studies are provided for illustrative purposes only and are based on real client or former client engagement. Some scenarios may reflect client experiences or work originally performed by a firm that has since been acquired. All client names, identifying details and contextual elements have been anonymised to protect client confidentiality. The outcomes described reflect the experience of a particular client. Results are not guaranteed and may vary based on each client’s individual circumstances, market conditions, regulatory requirements and specific financial objectives. Past performance is not indicative of future results. 

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