Evaluation
We evaluate every option through four lenses.
Offering Structure
Legal Structure: We evaluate local entity formation alongside U.S. regulatory and securities law compliance.
Vehicle Quality: We assess whether an offering is professionally structured or serves as a veneer for low-cost developer financing, evaluating whether the investment holds independent merit beyond its residency program association.
Liquidity Timeline: We model redemptions, lock-up periods, and capital return schedules for U.S. taxpayers.
Investor Classes & Rights: We analyze voting powers, distribution priorities, and class-specific protections.
Disclosure Quality: We review offering memorandums, promotional claims, and material risk factors.
Governance & Oversight: We examine board composition, management mandates, and fiduciary controls.
Custody, Audit & Valuation: We verify independent asset custody, annual audit standards, and valuation methodologies.
Fees & Sales Practices: We audit subscription loads, performance splits, and distributor compensation models.
Conflicts of Interest: We identify related-party transactions, self-dealing risks, and affiliate fee structures.
Tax Exposure
Local Tax Exposure: We evaluate host-country income, withholding, and transaction tax obligations across foreign structures.
U.S. Tax Exposure: We analyze entity classifications under Passive Foreign Investment Company (PFIC), Controlled Foreign Corporation (CFC), and grantor trust, and consider Original Issue Discount (OID) and self-directed IRA (SDIRA) rules.
IRA Mechanics & Prohibited Transaction Risk: We review self-directed IRA funded transactions to assess the risk of IRC § 4975 prohibited transactions and UBTI exposure.
Reporting Obligations: We test for filing requirements for Form 8621, Form 5471, Form 3520, and FBAR/FATCA compliance.
Information Impossibility: We identify structural reporting gaps where foreign managers fail to supply required U.S. accounting data or access to data overall.
Enforcement Risk: We analyze audit risk and illustrate failure-to-file penalties and statute of limitations extensions under IRC § 6501(c)(8).
Tax Compliance Costs: We weigh recurring accounting, legal, and diagnostic advisory expenses against projected net investment returns.
Legal Obligations
Regulatory Alignment: We analyze compliance with local jurisdiction regulations and relevant U.S. federal law.
Regulatory Enforcement Risk: We evaluate potential exposure to regulatory investigations, sanctions, and enforcement actions.
Legal Recourse: We assess investor remedies and enforcement mechanisms under both local and U.S. law.
Offering Documents & Risk Disclosure: We review private placement memorandums, terms, and formal risk disclosures and measure them against regulatory standards.
Consistency of Marketing, Subscription & Reporting Materials: We verify structural consistency across promotional claims, subscription agreements, and ongoing investor reporting.
Whether Sales Promises are Reliable Representations: We audit promotional commitments against binding contractual terms and operational realities.
Alignment of Offering with Immigration Program Requirements: We verify that investment terms satisfy statutory program criteria for residency by investment programs.
Realistic Program Timelines and Access: We evaluate operational processing schedules, program milestones, and access parameters.
Global Positioning
Residency by Investment (RBI) Program Benefits: We evaluate residency rights, mobility privileges, and statutory entitlements under foreign investment immigration frameworks.
Timeline to Access and Maintain RBI Benefits: We analyze processing intervals, physical presence requirements, and renewal milestones necessary to preserve status.
Legislative Risk: We monitor retroactive policy shifts, program restructuring, and statutory modifications within host jurisdictions.
Currency Risk: We assess foreign exchange volatility, capital controls, and repatriation restrictions impacting asset valuation.
Social Risk: We evaluate geopolitical stability, public sentiment toward immigration programs, and local integration factors.
Our Approach
Evaluate
We interpret each opportunity through four analytical lenses. We measure exposure and identify risks and ROI.
Illuminate
We translate off-shore offerings into their U.S. implications, decoding structure, timelines, obligations, and risk.
Integrate
We align insights and anchor a shared understanding across clients’ advisory teams: tax, wealth, and investment.
Scope and Boundaries
Scope
Education and evaluation of structure, disclosures, processes, compliance, risks, and implications
Action items and next steps
Coordination with client's tax, wealth, and legal advisors
Not Included
Recommendations or sales of securities in any jurisdiction
Filing immigration applications or regulatory forms
Legal, tax, wealth, or investment advice
Evaluate Your Next Adventure
Offerings in Residency-by-Investment markets vary widely in quality, regulatory compliance, tax reporting, and transparency.
Evaluation helps you see how program rules and investment materials intersect with your goals, values, needs, and with U.S. law before capital is committed.
