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general public -- this is, vide them with informa- investment unless you ments. However, this is
for instance, the case of tion that might have been have the required infor- something that should be
the UBS branch in Petit- very useful to them in the mation, and for this rea- thought about quite early.
Cointrin
Saconnex, son we give you the infor- It's true that when you are
decision-making process.
(Airport) and the one at UBS is in a position to mation regarding the 30 years old questions
Vermont-Nations. We are provide tailor made solu- acquisition itself, eventual about your future retire-
the bank of a significant tions to civil servants at problems of inheritance -- ment may not be among
number of actors of every stage of their life. how to transmit the your main concerns.
Geneva's International house/apartment to your However, we see that
Community. Q: Does this mean that heirs -- fiscal implica- when retirement age is
we can knock on your tions. If you are a diplo- getting closer, people
This relationship has door to ask for advice? mat or an international become aware of the mat-
given us the opportunity civil servant, your reve- ter. Unfortunately, in
to nue is not taxed. But some cases, there may not
gain
Our concept of giving
extensive
knowledge and experien- advice is something extre- when it comes to owning be enough time to prepare
ce of the international mely important and is property, there is taxation and the consequences
community, which has identical whether you are and it's important .you may be quite dramatic.
quite a number of specifi- in Geneva, Frankfurt, should know about it. We
cities. In addition, we New York or Singapore. also have good know- Q: What are the main
have become acquainted We would never propose ledge about the property points to take into
with different uses, cus- our solutions to you market -- that might be consideration?
toms and cultures. before we have asked you quite useful too!
some questions. This may Nevertheless, more and
Q: In what way are you take a couple of minutes Q: Talking about more future retirees in the
"different"? longer than you anticipa- retirement -- do you international organiza-
ted. Imagine a case of advise on that subject? tions come to see us, and
Think of this civil servant medium complexity -- that's very satisfactory.
newly arrived in Geneva. somebody who would Retirement is certainly We are, in fact, capable of
We can clearly help like to buy some property one of the most important proposing a financial plan
her/him out regarding day and needs a loan. There events in life. You and to them. There are four
to day banking matters are certain things we need your bank may need quite major points to be taken
(i.e. local payments, to know about the person a long period of reflection into consideration. First
transfers, credit cards, --environment, family in order to come up with of all, do you want to
debit cards, e-Banking, situation, financial situa- the optimal financial solu- withdraw part of your
etc...). Uses and customs tion, future prospects. We tion. retirement benefit in cash
are so different from one want to propose some- or keep it all for monthly
country to the other. It is thing that corresponds to When it comes to retire- payments? As an interna-
really worth getting their needs. ment, it's important to tional civil servant, you
advice on these matters. understand the concept. It have the possibility of
Q: As an international is very important to make receiving part of your
Or this investor holding civil servant or diplomat people aware of the need benefit in cash and the
US shares of which heirs would like to buy a to establish a budget by rest as a monthly pay-
could one day be liable to house in Switzerland, saying to them: "You will ment. That's the first thing
US inheritance taxes, and get a loan - would have such and such char- to reflect upon. Second
regardless to his citizens- you be able to give me ges to pay -- rent, electri- aspect is currency. Quite a
hip or place of residence. all the information I city etc. -- and you must number of people come to
need? match this to the revenues see me to open a US$
We definitely can offer an you will have when you account, whereas there
advice on various issues. Yes, of course. We could retire." Most probably, the are so many other factors
have given you global Pension Fund will provi- to be taken into considera-
We always regret it when advice on the subject and de almost all of the reve- tion. Here again, there is
clients tell us that they be satisfied with this. nues for the budget and, if not just one answer: the
have made a decision and However, you cannot there is a shortfall, we can reference made to the
that they did not know move ahead in such and try to cover that by dollar value, taxation
financial making some invest-
that we were able to pro- important issues, inheritance, etc.
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