- You are my client
You are an ultra high net worth individual (UHNWI) operating worldwide and you are exploring your options as you invest, operate or relocate to the UK or Switzerland.
Either you have become a very successful high earner in your own right or you need to protect, grow and expand your family’s wealth and preserve its historic legacy. You are looking for a better global wealth strategy, which applies to your unique set of circumstances and requirements.
You want to venture out on your own, create and grow your own bespoke global investment and business opportunities. You are constantly on the lookout for what else is possible. What is the next most exciting project for you and your business or the next required step to protect your family’s historic legacy.
You have a large family or come from a large closely-knit family and there are certain sensitivities that you wish are addressed and protected as you continue to explore your and your family’s options in the UK or Switzerland. You are reconsidering your family’s investment, trust, business and fiduciary structures.
Quite possibly you are a member of a royal family, a ruler, a presidential candidate, a celebrity, a well-known public figure or a best-selling author. You need that extra layer of assurance that whatever you say or do remains private and protected; as you do not want your personal exploits to become the latest scoop entertained in international tabloid press.
Likewise, you are not interested in becoming a sales pitch for multiple services you do not need that may unnecessarily expose you or make you vulnerable. You want to work with somebody who understands and who will only offer the right expertise for the specific services you need.
You may be looking to start your own international investment fund. You want to make it attractive to your co-investors and make sure that their interests are protected, as well as, your own.
Maybe you are just an international individual who wants to become an investor, entrepreneur or a business owner and needs that extra layer of professional expertise, which is not as readily or as widely available. You understand your matter is complex and you need to access the right expertise to deal with it.
- Welcome to Family Office in London
I am the single point of contact for ultra and high net worth individuals who need to develop their global wealth strategy, which aligns with their personal vision, their business and investment goals and then meets regulatory, legal and compliance requirements.
I help them navigate the applicable regulatory and legal framework and tailor bespoke and comprehensive approach across UK immigration law, global financial structuring and tax advice, set up, administer and review their trust, business and fiduciary structures and benefit with cost effective foreign currency conversions.
As their trusted adviser, I preserve the integrity of their global vision and keep their personal and business matters private and protected; while they build, grow and expand their wealth worldwide.
- About Saule Voluckyte and Family Office in London
Saule Voluckyte is the founder of the Family Office in London. This is her story.
Early curiosity and career
I studied International and European Union law while at the university when I came across the 1998 OECD Report on Harmful Tax Competition. The annexes of the study were showing paradise destinations which were offshore centres utilised for international structuring.
Even then I was able to identify that this was a unique area of expertise which is not learned at the university. Ever since I kept an active interest in this area and I have been asking myself where I could learn this and specialise as a unique area of expertise.
Notwithstanding, I had an extremely successful career as soon as I graduated from the university. I was invited to work for the government of Lithuania. My expertise in the International and European Union was in high demand and sought after at the time. I was more than delighted to contribute my knowledge and serve the purpose greater than myself.
Every morning I was waking up with a big smile on my face as I had this amazing opportunity of learning and working alongside some of the highly established and accomplished professionals. I felt a constant hunger for new knowledge so that I could bring value and relevant expertise.
Still under the age of 25, I ended up working as a delegate for my country at high profile meetings in international organisations. I was trusted to do good work in sensitive and highly political environments. I loved every minute of it.
I absolutely loved my role as the senior expert who had the final say on compliance with the International and European law and the European Convention of Human Rights of the draft law prepared by the Parliament, the Government, individual ministries and other government agencies and sometimes the acts of the President. I was happy serving all the branches of power within the state structure.
There was still this nagging feeling that there is still so much more out there that I wanted to learn. I was especially attracted to the complex world of finance. I wanted to learn more about how it really worked. I knew I would never gain the knowledge I was thirsty for within the remit of my home country.
At some point in my life, I looked at myself and where I was professionally and asked myself: “is this all there is to life?”. Life felt to have become too predictable and not challenging enough anymore. I decided to seek out new professional opportunities.
Moving to Mayfair, the heart of London and meeting the professional needs of UHNWI and their families
I moved to London and started my new career in Mayfair.
Mayfair is the most affluent area of private wealth in London. It is the backdrop of many novels in English literature.
I became my own favourite heroine based in Mayfair just off Grosvenor Square on the famous Brook Street. Just a few steps away from the Claridge’s.
From January 2008 I worked exclusively only with ultra and high net worth individuals (UHNWI) who were primarily investing and operating in Mayfair and Switzerland.
I received specialist training and on the job experience. I became in charge of specialist teams and operated worldwide. Whatever the solution the client needed, it was provided to this client.
We knew exactly why the client needed a specific setup, structure or a jurisdiction. Everything was carefully thought through, vetted and chosen. We were not chasing just the latest fads or the flavour of the week. We served our clients the best solution we could find in the industry tailored to their specific circumstances, needs and requirements.
Our solutions were always legal and compliant, which means that they served the clients’ best interests and protected from unnecessary exposure, which did not make them vulnerable.
I especially loved the quality of connection while working with specific clients and their respective families for a long period of time. I loved the role of their trusted adviser. I very much enjoyed being of service and providing the answers and solutions they required.
I was their first port of call when they needed to vet their potential business partners, specialist advisers, needed to discuss their new business ventures and a possible structure or setup.
I specialised in finding the private banking solutions where the clients met the bank’s criteria and were ideally suited. This means they were always well looked after and their needs were met. Especially, in the challenging regulatory environment where banks started to become more picky with their clients.
I became the go-to person for the clients when things were turning sour and the legal advice they were receiving was inadequate or letting them down. I was sought out by high profile people and their family members. We never specifically marketed to attract these types of clients.
The word of mouth spread, my professional network and equally my existing clients thought that I was the right person to handle highly sensitive situations. Especially, where sensitive scenarios involved celebrities, high profile politicians or members of royal families.
Unfortunately, a lot of times it was too late in the process in order to save the clients from a vulnerable position and turn the matters around for them.
Initially, I was looking where I could refer my clients to somebody knowledgeable and competent who was able to work with some of my favourite clients. Only to see that regular traditional lawyers and accountants could not understand my clients’ problems.
There are specialist rules surrounding international individuals, which is a niche knowledge and requires specialist training and expertise.
I also did not like seeing how clients were mishandled and exposed by badly trained AML teams not trained to work with ultra high net worth individuals.
Becoming the single point of contact for international clients
I built the specialist knowledge and expertise required to service ultra high net worth individuals investing, operating and relocating to the UK or Switzerland. I passed some of the most competitive specialist exams in the UK where the national pass rate is 20%.
I am specifically regulated for every piece of expert advice I give my clients, which means I am qualified and carefully vetted by respective regulatory bodies to give this type of advice and share my expertise with my clients.
I have gained the unique expertise built around the requirements of ultra high net worth individuals operating internationally.
I am able to deliver a comprehensive approach to my client across global wealth management, UK immigration categories and UK international taxation requirements while benefiting my clients with cost effective foreign currency conversions.
Expertise in UK Immigration law
I was a foreigner for the whole of my life. I only lived 3 years of my adult life in my own country of origin. I was born behind the Iron Curtain. I was learning English. However, the real prospect of travel and living the life I wanted became only possible after the fall of the Berlin Wall.
We travelled shortly as a family once my country reclaimed its independence after 50 years of absence from Europe’s political map. We travelled only to find ourselves in a similar situation featured in the movie The Terminal. In the movie, Tom Hanks’ character finds himself at the airport in a foreign country after his country was erased from the political map.
Similarly, a political coup in Moscow, Russia meant that my country’s international political destiny was uncertain. We decided to wait out the coup and return once the international political climate became more predictable. I am perfectly familiar with political scenarios which may leave entire families in a limbo.
At the same time I am able to fully appreciate the reasons behind the personal choices of certain clients irrespective whether they are members of a royal family or presidential candidates who make it known very early in the process that they would not be seeking a citizenship by investment or the British citizenship, but they would be looking for a viable legal solution to be present and live in the UK.
I never intended to build my professional career in immigration law. I added this area of expertise when I could no longer watch my clients being constantly let down, their UK immigration record compromised and losing money, especially, when pursuing the UK Tier 1 Investor visa route.
Their substantial wealth did not mean they were accessing the best professional advice for them. On the contrary, their wealth was making them vulnerable.
A lot of my work in this area consists of reversing the consequences of really bad UK immigration law advice given by regulated solicitors. They should know the law, but it was the experience of my numerous clients that this is not the case.
I am regulated by OISC (Office of Immigration Services Commissioner). My immigration services are listed and promoted by the Home Office on the UK government’s site.
My background in International and European Union law coupled with my experience in public service adds that extra consideration for my clients. I am not just filling out the form, but making sure that my client’s story and circumstances are duly represented, so that it was an easy “yes” from the UK immigration authorities.
I was successful in getting visas approved within 24 hours for politically exposed people coming from the jurisdictions where the UK is not giving out visas as easily even to the elected members of government and its ministers.,
I have experience in facilitating visa approvals under the rules of international law.
Expertise in UK international taxation
This is another area of expertise which I added because my clients needed this niche knowledge. I undertook the specialist training, which is typically facilitated to benefit the Big4 professionals. I passed professional exams, which have a 20% national pass rate.
I went through this process to bring this expertise and focus on the fiscal affairs of my international clients. The clients were typically coming to me ill-advised. Showing the advice they received about their extensive UK tax liability where in fact there was none under the specific UK tax rules, which is a niche knowledge.
It became extremely rewarding to me to be able to point out that their initial assessment and advice was wrong. The best part was when the HMRC confirmed my professional advice and assessment with their letters.
This area of expertise enabled me to navigate a number of my international clients through a number of different complex rules and unique fiscal scenarios.
The overseas clients investing, operating and living in the UK were concerned with the changes in the rules of the UK international taxation. Major changes took effect from 2008, which drove a number of affluent clients away from the UK.
The legislative effort did not settle until clear tests were introduced to assess the UK tax of an international individual investing, operating and living in the UK. Some clients chose to continue to operate in the UK by not becoming UK tax resident, while others specifically sought to become tax resident in the UK.
Further legislative changes were introduced to tax high value property. UK tax initiatives targeted sophisticated overseas family wealth structures that hold prime real estate in London.
The UK is well-known for its sophisticated tax avoidance and evasion schemes. Some of our clients were involuntarily caught out by these schemes. It does require a specialist knowledge in order to determine that these are indeed sophisticated tax avoidance and evasion schemes. The international clients walked into them unsuspecting as they relied on the professional integrity of their advisers, which they thought they chose carefully. Only to find that they became the focus of HMRC tax evasion efforts.
In relation to more compliant international clients, efforts to facilitate the exchange of information of overseas individuals tax residents in the UK intensified. UK tax authorities wrote letters to otherwise compliant clients that needed to be appropriately handled.
All these new complex issues required niche expertise and up to date knowledge, which I was more than willing to provide in support of my clients and represented them successfully before the HMRC.
Expertise in international structuring, trust, business and fiduciary structures
Over the years I have observed how different jurisdictions intersect and operate with each other. This facilitated my ability to understand the unique operational nuances of different jurisdictions. My attention focused on their compliance and the ease to operate in order to serve specific clients’ needs and requirements, while observing the implications of their tax status.
Most of the fiduciary services providers are dependent on external tax expertise in order to serve their clients. This is not the case here.
Over the years the expertise and knowledge of the best practices was built. Even now, I would look at the sophisticated, bulky, inefficient and highly expensive structuring efforts devised by some of the industry leaders that actually harm and unnecessarily expose their client.
This is not the standard of service, which is observed here. The needs of the client and the integrity of their structure which is the solution that works is my primary focus and concern.
Expertise in FOREX for high value transactions
From the very beginning I worked to facilitate only high value transactions. There were the issues how these transactions should be structured and how they fit within the strict standards for compliance.
International high value transactions appear in different shapes and sizes. These are high value prime luxury real estate, art collections, luxury yachts and private jets.
These are typically cross-border transactions that need to be carefully prepared for and adequately structured.
Most of these transactions are facilitated through international private banking arrangements, which are by the very design costly and inefficient.
The FinTech industry is catching up. However, their solution is not designed with a private client in mind.
Recently, I did extensive research on the major players of the FX market, the type of clients they are able to serve, how their compliance systems operate and what IT platforms and solutions are utilised.
There are only very few industry solutions that are able to facilitate complex high value cross-border transactions made in different foreign currencies. We are one of them.
I am regulated by FCA (Financial Conduct Authority) for the purposes of the Small Payment Institution (SPI).
The Bespoke Approach across the areas of expertise
The bespoke approach across the different areas of expertise were designed with an UHNWI client in mind. After watching their suffering and inconvenience I asked myself:
“What if the client came to me first and I could guide them to access the best options for them from the very beginning?”
So that they could avoid a lot of frustration and inconvenience as they continue to invest, operate and live in the UK. My goal was to reduce my clients’ pain points and discomfort. I became very good at delivering the results my clients wanted.
Working with UHNWI requires a slightly different skillset, unique approach and understanding. When working with me my clients always emphasise that not only they feel listened to, but they feel heard and understood, too.
Within the industry, I am the single adviser who is able to traverse the different areas of expertise and bring a comprehensive approach across these distinct areas of expertise.
Normally, the clients seek and receive good legal advice in isolation. However, they quickly find out that actually good legal advice is not enough as they need to receive a comprehensive approach in order to address their global position and bring it to alignment with their own specific goals and comply with regulatory and legal requirements.
The word of mouth spread. I was invited to contribute my expertise to the House of Lords specialist National Review initiative, which focused on the UK’s legal and regulatory requirements and how these different UK immigration and tax requirements affect the UHNWI community.
My focus remained my clients. Especially in the midst of the Brexit initiative. I wanted to give them real and effective solutions, which protected their rights, which they earned by living and working in the UK for decades.
Newly introduced rules meant that these individuals could be easily caught out if not careful and did not assert the status they already had. My expertise was sought by international media outlets and the local international communities alike. I was happy to serve.
My expertise in UHNWI services were sought out by members of the overseas royal families and presidential candidates. I was asked to run bespoke projects for my clients and delivered on results initially promised to them. I was able to solve complex problems and achieve success for them and their projects in a matter of days where they have previously experienced lengthy hindrance and delays of months and years.
Department for International Trade promoted my services to overseas businesses, which they handpicked to expand to the UK. Not only I was able to secure the necessary UK immigration arrangements for the entrepreneurs and their families, but prepared them to be compliant with UK international taxation requirements, while preserving their bespoke overseas structural arrangements.
I thrive when I am invited to walk alongside my clients as they set out to accomplish their personal, business and investment goals. I find it very rewarding when my clients succeed and accomplish their goals.
- Let’s get started!
The easiest way to get started to work with me is by booking a virtual meeting. As you press on the virtual meeting link and scroll down you will be able to pick the date and time most suitable for you, as well, as how you wish to be contacted in a secure manner. You can always e-mail me: Saule@FamilyOfficeinLondon.com
Credentials: Saule Voluckyte
- public accountant regulated by the Association of International Accountants (AIA)
- regulated by the Office of Immigration Services Commissioner (OISC) for UK immigration services
- regulated by the Financial Conduct Authority (FCA) for the services of a Small Payment Institution (SPI)
- regulated to provide trust and fiduciary services by PolyReg in Switzerland where able to transact with financial institutions on the counter-party basis