STEP NY | 11/02/22 | Common non-tax pitfalls for US persons relocating to or investing in Europe
Common non-tax pitfalls for US persons relocating to or investing in Europe
Hannah Wailoo a partner in the private client and tax team and co-head of the Middle East group.She is a specialist succession and personal tax planning lawyer whose clients include domestic and international individuals, families, trustees and family offices.
Hannah provides tax efficient and estate planning solutions, with a particular focus on international families with a presence in the UK, or who are investing into or relocating to the UK. Her key specialism is UK real estate ownership for international families and investors, where she provides inheritance tax and other personal tax mitigation advice for real estate investment to the UK and for existing ownership structures.
Hannah co-heads our Middle East group and many of her clients live in or have a connection to the Middle East region.
Hannah’s clients benefit from her holistic approach to estate and tax planning, and she operates as an embedded trusted advisor alongside her clients’ other professional advisors and family offices to provide tailored legal and tax structuring solutions.
Alessia Paoletto is a partner in the private client team and tax team.
She is a dual qualified English solicitor and Italian lawyer (avvocato). She advises on a range of wealth planning matters affecting high net worth individuals, entrepreneurs and their families, in respect of their international estate planning, trust and tax matters, as well as on cross-border inheritance disputes with an emphasis on the complex interaction between the English conflict of laws system and the Continental rules.
One of the main focus of her practice is international and multijurisdictional estate planning, where she has developed particular strength in the analysis of the conflict of laws systems of various countries, the EU Succession Regulation and the EU Matrimonial Property Regulation, their impact in a UK cross-border context, and their scope as a planning tool for mobile and international individuals and families. Her dual qualification means that she is able to consider each case from both a civil law and common law viewpoint whilst always maintaining a practical approach.
Alessia also advises executors, trustees and beneficiaries in complex international probate and trust matters, often managing multijurisdictional cases and teams, and in stress-testing their structures from a Continental viewpoint.
Her client base primarily consists of high net worth individuals, international families with wealth across different countries, entrepreneurs, and city professionals, as well as foreign trustees and family offices. Her wider wealth planning practice includes assisting non-UK resident clients with pre-immigration tax planning, ongoing UK tax and remittance planning, as well pre-deemed domicile planning for long term UK residents and exit strategies.
Alessia also advises individuals moving to Italy and she has developed a particular focus on assisting clients who relocate there under the newly-introduced Italian special tax regime (the so-called ‘Italian res-non-dom regime’), being part of the team who assisted the first individual who obtained the ‘Italian res-non-dom status’. For her clientele looking to establish themselves in Italy or invest there, she is able to provide a wide range of Italian law advice, including pre-immigration, real estate and estate and succession planning, as well as auditing, and where necessary, restructuring clients’ structures in advance of a potential relocation.
Thanks to her practice spanning across different jurisdictions Alessia has developed particular expertise in analysing double tax treaties, both in the context of income and capital gains tax but also in relation to inheritance tax.
She is a native Italian speaker and is fluent in French, which is very helpful when explaining complex concepts to foreign clients, or when dealing with foreign families, counsels and notaries.