HELPLINE: 
A flexible assurance vie policy for internationally mobile expats
What it is. The Private Client Portfolio, or PCP, from Utmost Luxembourg is a whole of life, unit linked assurance vie solution designed for private and high net worth clients, with a minimum investment of £85,000. It is specifically structured for cross border wealth planning and long term mobility.
The policy. While resident in the UK, the PCP is UK compliant and allows tax deferred withdrawals of up to 5% per year of premiums paid, with no immediate UK income or capital gains tax. This makes it an effective pre-departure planning tool, allowing clients to start the policy and the French or Spanish fiscal clock before relocating.
On moving to France or Spain, the policy may already be nearing the eight year milestone, opening access to favourable long term tax treatment. Growth rolls up within the policy without immediate taxation.
The details. The PCP offers broad investment choice, a multi-currency structure, flexible access and built in succession planning, supported by Luxembourg’s strong policyholder protection.
Conclusion. For UK expats moving to France and French expats currently in the UK, the Utmost Luxembourg PCP is a highly adaptable and tax efficient long term solution.