Term Life insurance is a common, cost-effective policy with a comparatively low, age-dependent premium. Clients are covered as long as they pay the premium. Clients’ beneficiaries receive benefits upon the death of the insured.

An Endowment Plan is a life insurance policy that combines savings and a death benefit. Part of the premium forms a cash reserve to be collected if the client surrenders the policy. If the insured person dies, the beneficiaries receive the death benefit.

Universal Life is a flexible, premium life insurance policy that can help high net worth individuals grow, preserve and transfer their wealth to the next generation. The amount of premium varies. Clients can also modify the death benefit amount while the policy is in force.

The scheme is applicable to:

• Foreign nationals (except Afghanistan, Cuba and North Korea)
• Macao SAR residents
• Chinese nationals with permanent resident status in a foreign country
• Stateless persons with permanent resident status in a foreign country
• Taiwan residents

Specified Financial Assets (denominated in HK dollar)

• Stocks
• Bonds
• Certificates of Deposits (must first obtained Approval-in-Principle)
• Eligible Collective Investment Schemes

• No need to top up
• Cannot withdraw capital gains
• Can switch between Permissible Invest Assets
• Continuously for seven years

LGT is a leading international private banking and asset management group that has been fully controlled by the Liechtenstein Princely Family for over 90 years. As at 31 December 2018, LGT managed assets of over USD 200 billion for wealthy private individuals and institutional clients. LGT employs over 3,400 people in more than 20 locations in Europe, Asia, the Americas and the Middle East. The bank offers active portfolio management, expertise in regional markets and provides a suite of family governance and philanthropy services. More importantly, clients may invest in the same opportunities as the owners through the ‘Princely Portfolio’ investments via LGT's open architecture and state-of-the-art investment platform

^{*Information and source provided by LGT in 2019.} 

Bank of Singapore is a wholly owned subsidiary of OCBC Bank, Southeast Asia’s second largest bank. Headquartered in Singapore, Bank of Singapore operates from a strong and open economy. Bank of Singapore is one of the fastest growing private banks in Asia, offering a structured and consistent approach - an open architecture product platform with robust research capabilities to deliver a total risk-based solution customised to each client’s needs. As it is strategically positioned to serve clients across the globe with our network of offices, Bank of Singapore also enjoys access to OCBC Bank’s full suite of investment and commercial banking solutions such as financing, insurance and brokerage services.

Our FLEMING Portfolio, 'FLEMING' emphasis on a 'buy and hold' strategy. Based on a value-investing discipline, our portfolio managers aim to identify and invest into undervalued assets with great upside potentials. Based on the strategy, they will try to minimize the trading turnover to capture the full investment cycle. Technical analysis is also involved to enhance the timing on execution.

Visionary Investment Portfolio Services (VIPS) is an investment solution for clients who participate in the Investment Linked Assurance Schemes (ILAS). VIPS provides a stable return and minimises the portfolio risk over the longer run.

Gifts to customers and expenditures like the cost of sending customers holiday cards are deductible in most countries against business or self-employed income. If you’re self-employed, the expense comes out of your income from self-employment.

Homeowners and rental property owners in some countries can fully deduct interest paid on home mortgage loans against their total income or rental income respectively.

You can earn a tax break if you are taking classes for your career. Your expenses are deductible as an itemized deduction. This deduction, however, is limited to the amount of your qualified education expenses, subject to different tax rules in different countries.

In many countries like the US, you can deduct allowable medical expenses. If you and your spouse file separate returns, you can claim expenses you paid for your spouse if you were married either when your spouse received the medical services or when you paid the expenses. Of course, if you file a joint return for a tax year, any expenses paid by either of you that year would be deductible.

You can have significant tax savings by averaging your income. If you know your income will be lower next year, you could arrange your fiscal year-end bonus to be paid after the start of the new fiscal year. Consider postponing the sale of your investments until next year, or offset the gain with a loss from the sale of other investments. These methods can save you from the high cost of paying tax at the next higher marginal rate. Harris Fraser offers access to tax professionals for most major jurisdictions.

Harris Fraser offers access to tax professionals for most major jurisdictions.