I set up and reorganise investment structures internationally, guided by the family’s preferences or existing businesses. So far, I have established over 150 holding and investment companies in Poland and in the world (Europe, Asia, USA). My rules are:
- as simple as possible,
- as safe as possible,
- as diverse as possible (diversification is a safety mechanism).
I assist in the processes of changing tax residence, avoiding the risks of double tax residence, fulfilling foreign exchange obligations, fulfilling exit tax obligations in the event of loss of Polish tax residence.
I prepare draft wills, donations and statutes of foundations for my clients. In doing this I take into account their individual financial situations and family relations. Together with the team, we designed an original private foundation template based on existing legal regulations in Poland.
- How to safely set up a private investment fund. Is it possible to set it up in Poland
- I protect assets from creditors and geopolitical risks
- How to secure the inheritance process when assets are dispersed around the world
- Should I make investments on my behalf or set up a company for this purpose
- Should I write a will myself or should I make it with the help of a notary/lawyer
- Where to deposit cash
- How to hedge an investment that I don’t have time to control or that is located in a different market
The economic events of 2020, mainly the pandemic, have made the market more difficult, but still very absorbent. Many sectors are still growing, and there are favourable investment opportunities around. Recently I bought a new house, we are renovating our house in the country. It seemed that since I had recently turned 40, I still had time for everything.
This year, however, one of my friends had a serious accident. Liabilities, unpaid loans and multiple confused matters had a very negative impact on his family’s situation, who on top of everything still had to deal with the death of their sole breadwinner. Both our families are close enough for us to have acutely experienced the whole situation. My wife and I both came to the conclusion that we shouldn’t delay matters any further and organise our estate and financial matters. Too many people rely on me, and I haven’t done anything to sort out the estate.
I called Dr. Anna Maria Panasiuk asking how to organise financial issues for such a circumstance. It was difficult for me to admit that I had a fortune worth many millions but that I did not even have a will. A recovery plan was created very quickly.
Up until that moment my funds were in an account where they generated insignificant interest income.
Now, not only has the return on my passive investments increased, but my liquidity has also increased. And all this with full security of the estate and safety provisions for my loved ones.
The entire process took place during three meetings. Whenever necessary, a foreign bank advisor was available on the phone. Then one in-person meeting with the bank and a notary. In less than two months, a very reliable and comprehensive plan was implemented.
Now my other investment activities, exposure to all those risks that in today’s world grow like mushrooms after the rain, cannot affect my assets or the financial situation of my family. I’m too busy with business to keep an eye on the growth of my investment accounts on a daily basis. The fact that I wrote a will and put my estate in order did not make me feel older. I feel more responsible now!
I have been building an investment portfolio for 20 years. It has developed into a dozen or so investment companies. A few successful investments allowed me to exit very favourably. The 10-digit value of my wallet quickly began to make itself felt. The costs of its maintenance easily exceeded half a million zlotys per year.
Truthfully, decisions about further investments and capital movements were made spontaneously, which additionally caused more chaos. At some point, it turned out that I had a dozen or so unnecessary investment companies in my portfolio, including half outside Poland. Those also had overdue administrative actions against them. To top that, I also had a close-ended fund in Poland, the funds in which were practically frozen out by the policies of the Polish Financial Supervision Authority (KNF) and did not generate any income.
This entire messy structure cost me a lot of money and even more time. I was ready to put the whole thing back in order. Liquidating foreign companies, transferring assets into one investment vehicle all seemed necessary, but the formalities looked impassable.
However Dr. Anna Maria Panasiuk and her team took the challenge head on.
The whole process took 2.5 years. I aggregated all my assets into one investment vehicle, the cost of which today is 10% of the costs I would have incurred a year ago. My job was to accept the action plan and once a month participate in a meeting summarising the changes in the structure.
The development of my business meant that I no longer live in Poland, but maintain a double tax residence. The help of Dr. Anna Maria Panasiuk and her experience in international affairs meant that this matter was immediately dealt with.
Today, I feel that I am in control of the companies and I know where things are. This is a huge comfort, just as important as the reduction in the annual costs.