The HNWI is the ultimate consumer of the information we disseminate. This has been true from the beginning, but the expression was first used by Marshall Langer at our meeting in Rome in 1993 where he talked about choosing a tax-favourable residence – a recurring ITPA topic. “There are signs”, said Peter Edwards in Luxembourg last year “of the wealthy and talented going to live elsewhere.” This is a topic to which Nicolas Rollason returns at our meeting in Madrid (20th March, 9.40am). Not every jurisdiction is an attractive alternative: the features of those which are were the subject-matter of our three Retirement publications.
Residents in different countries have different needs. We have heard from Jorge Veiga França about Brazilians and from Olga Boltenko about Russians; Mimi Hutton and Pearl Lam will speak in Madrid about the Chinese HNWI. Andrew Penny reminded us at the 2007 Monte-Carlo meeting that there are exit problems in changing residence and it was the same speaker who stressed that a fortune attracts many would-be creditors (Asset Protection, Monte-Carlo 2011) – a topic Richard Pease returns to in Madrid.