Sally Pederson is a speaker, business and life coach, and a Global Citizen. Sally has lived in five countries, having traveled to over 45 countries, having multiple residencies and dual citizenship, legally reducing her taxes to low single digits, owning companies and real estate in various countries, and having multiple bank accounts around the world. In addition, she is a certified life coach. Sally Pederson is uniquely qualified to help Business Owners become Global Citizens and legally reduce their taxes to zero or single digits and protect their assets.
Sally Pederson, Business and Life Coach
Can you tell us how you first got into the business of helping entrepreneurs and business owners diversify their life and reduce their taxes?
As an entrepreneur, my journey toward helping other business owners and high-net-worth individuals began when I faced an unfair audit by the government. Despite having an accountant prepare my tax return and claim deductions for my rental property, the auditor deemed all my receipts and deductions as invalid, which were given to me by my property management company. They accepted the income, but not deductions like maintenance, landscaping, utilities, etc. The result? I owed thousands of dollars in taxes and interest. It was then that I realized the importance of gaining knowledge on taxes and regulations and playing the game by the rules.
For over a decade of research and experience, I discovered that each country has its own set of tax laws and percentages. I understood that being a resident or citizen in a particular country wasn't necessary to open a company there and legally pay zero to low taxes.
My experience with the unfair audit result sparked my curiosity and ignited my passion for helping others navigate the complex world of taxes and international living.
How do you enable your clients to legally reduce their tax burdens to zero or single digits?
We help our clients legally reduce their tax burdens through several strategies. I say we because it is not just me. I have an amazing team of people around the world that work together. I also must give a disclaimer, I am not an accountant, I can not give legal advice, and I work with those who can.
Firstly, we work with clients to identify countries with favorable tax environments that suit their specific needs. By establishing a company in a country with low tax rates, my clients can legally minimize their tax liabilities while protecting their assets.
Secondly, we assist our clients in obtaining residency or citizenship in countries that offer attractive tax regimes. By becoming a tax residents in a country with low-income tax rates, my clients can significantly reduce their tax burden. We strongly believe every person should hold at least two citizenships.
Thirdly, we help clients take advantage of tax treaty benefits that exist between countries. For instance, double taxation agreements between two countries can allow business owners to move money between countries without paying excessive taxes.
Lastly, we provide guidance on the structuring of investments or business ventures, enabling clients to achieve maximum tax efficiency. By utilizing sophisticated structures such as trusts or foundations, my clients can legally protect and grow their wealth while minimizing their tax exposure.
In short, our approach to tax planning is designed to ensure my clients pay the lowest amount of tax legally possible. By leveraging our expertise and knowledge of international tax law, I have been able to help entrepreneurs and high-net-worth individuals legally reduce their tax burdens to zero or single digits, providing them with the financial freedom to live and invest where they choose.
Can you share an example of a successful client you helped to accumulate international investments while protecting their assets?
When it comes to helping our clients accumulate international investments while protecting their assets, we take a personalized approach that is tailored to each client's unique needs and goals. As a team, we work closely with our clients to understand their investment preferences and help them choose the right investment vehicles that align with their financial objectives.
We take confidentiality very seriously, but we do have a successful client case study we can share. For instance, we had a client who had purchased property in two different countries. For legal and tax reasons, we structured each property as its own entity and protected them with a corporation and a trust in different countries.
By establishing separate entities, we were able to protect our client's assets so that if one property faced any legal or financial issues, it wouldn't affect the other property. Furthermore, we were able to help our client minimize their tax exposure by strategically structuring their investments.
However, it's worth noting that international investing and asset protection can be complex, as there are pros and cons to every structure. That's why we take a detailed approach, considering both our client's short-term and long-term goals, as well as their specific risk appetite. By taking this comprehensive approach, we can put in place the right structures and strategies that give our clients the peace of mind they seek.
At the end of the day, we believe that wealth management is all about creating the right framework that helps our clients achieve their investment objectives while minimizing risk and providing a solid foundation for future growth. With our team's extensive experience and knowledge, we can provide our clients with the necessary support and guidance they need to achieve their investment goals with confidence.
What sets your approach apart from other tax planning and wealth management services?
What sets our approach to tax planning and wealth management apart is our team's vast knowledge and experience in the international tax arena, as well as our personalized, comprehensive approach.
Our team is led by experts with over a decade of experience in the field, who have a deep understanding of the complexities of global tax laws, investment, and asset protection strategies. We have worked with entrepreneurs and high-net-worth individuals from various countries, and our extensive network of global partners allows us to provide first-rate advice and support in multiple jurisdictions.
What distinguishes us from others in our industry is our ability to provide solutions that are tailored to each client's individual needs, goals, and unique circumstances. We don't offer a one-size-fits-all approach like many other tax and wealth management services. Instead, we take a deep dive into each client's situation before devising a tailor-made approach that takes every detail into account.
We also pride ourselves on staying up-to-date with the latest changes in tax laws and regulations in various countries. By staying ahead of the curve, we're able to offer our clients innovative and effective solutions that help them achieve their financial objectives.
Our team's expertise, personalized approach, and up-to-date knowledge of international tax laws and regulations set us apart from other tax planning and wealth management services, making us the ideal partner for entrepreneurs and high-net-worth individuals seeking to optimize their financial position on a global scale.
How do you ensure that your clients remain compliant with tax and residency laws across various countries?
Ensuring that our clients remain compliant with tax and residency laws across various countries is a critical component of our work. Just like in the country you live in, every person has a personal responsibility to comply with the laws and regulations in the jurisdictions where they operate. Of course, clients have lawyers and accountants to help them.
At our firm, we work tirelessly to keep clients in compliance with the legal requirements in each jurisdiction. Our team comprises tax and legal experts who keep track of changing tax laws and regulations across different jurisdictions to ensure that our clients comply with the latest rules.
Along with providing comprehensive personalized approaches and utilizing our team of legal and tax professionals, we also work closely with our clients to help them understand their obligations and responsibilities regarding tax and residency laws. This education and transparency help maintain compliance, and we ensure that our clients are fully aware of the risks and potential consequences of non-compliance with the law.
We believe that the key to maintaining compliance with tax and residency laws across various countries is to provide our clients with the best possible advice, support, and education. Our authoritative approach, coupled with our experience, knowledge, and network of experts, allow us to remain vigilant and ensure compliance with the tax and residency laws in each jurisdiction.
How do you stay current and adapt to changes in tax laws and regulations?
We use various resources to stay informed about changes in tax laws, such as attending conferences, networking with other experts in the international tax and wealth management field, and subscribing to various professional and news publications.
Also, our talented team has extensive experience in managing international tax planning and wealth management for clients from around the world. This enables us to identify tax implications before issues arise and adapt to the latest changes in tax laws accordingly.
We take staying current and adapting to changes in tax laws and regulations seriously. We understand that tackling this issue proactively is vital to our client's financial success, and our approach ensures they remain in compliance with the latest tax laws and regulations.
Can you discuss the benefits of obtaining multiple citizenships or residencies for entrepreneurs and business owners?
We think everyone in the world must have at least two citizenships. Obtaining multiple citizenships can be an excellent way for every person to enjoy many benefits and freedoms. Having multiple residencies also has its advantages, but there are fewer benefits with residence, than citizenship.
First, it offers greater freedom and flexibility for where people live and conduct their business operations. This can help to diversify their income streams, take advantage of new business opportunities, and access different markets, all while maintaining the same level of legal protection.
Second, having multiple citizenships or residencies can also provide tax benefits. It can allow business owners to choose the country or countries where they pay lower taxes, helping reduce the overall tax burden, which will result in a significant increase in profitability.
Third, multiple citizenships or residencies provide better access to global investment opportunities. By having multiple residencies or citizenships, entrepreneurs can benefit from country-specific tax incentives and investment opportunities that they might not have access to with their current citizenship.
Lastly, in times of political instability, not trusting the direction the government is going for whatever your reason or beliefs are, having multiple citizenships or residencies can provide a crucial level of security for people and their families.
Obtaining multiple citizenships or residencies provides people with much greater personal freedom and flexibility to conduct their business as well as benefit from tax efficiencies, investment opportunities, and quality-of-life benefits across different jurisdictions.
What advice would you give to entrepreneurs who are new to the concept of wealth diversification?
Well, wealth diversification is a crucial concept that every entrepreneur should familiarize themselves with. As someone who has firsthand experience with international tax planning and helps others diversify their income and reduce their taxes, I have a few tips for those who are new to the concept of wealth diversification.
First, it's essential to understand that wealth diversification is not just about investing in multiple assets; rather, it's about spreading your investments over multiple asset classes, such as stocks, bonds, real estate, and different countries. This strategy helps to minimize risk while maximizing returns over the long term. It’s like the saying “don’t keep all your eggs in one basket”, you don’t want to keep all your assets and investments in one country.
Second, take the time to research and understand the tax laws and regulations of different jurisdictions. With an understanding of these rules, you can strategically structure your investments to minimize the tax burden legally.
Third, it's important to have a long-term investment plan in place that aligns with your financial goals.
Establishing investment objectives and timeframe while paying attention to the investment risk is essential. Wealth diversification can require a longer-term perspective and requires that you have patience.
Fourth, build a team of professionals who can help you make informed decisions on wealth management and tax planning strategies. A team that includes specialized lawyers, accountants, and financial advisors who are well-versed in international tax laws.
It's essential to have a solid foundation in place before exploring new investment opportunities. This includes having a personal budget, paying off debt, and building emergency funds. Wealth diversification is an essential concept and requires a unique approach for every entrepreneur. By following the above tips and finding a trusted advisor, you can successfully navigate this path.
What is your vision for the future of tax planning and wealth management for entrepreneurs and business owners?
I believe they are rapidly evolving and becoming more complex, but my vision for the future is a world where individuals have the tools and resources to legally and ethically reduce their taxes, protect their assets, and diversify their holdings across the globe.
I see a future where entrepreneurs and business owners are no longer beholden to any one government or tax system, but instead have the freedom to choose their preferred country of residence, citizenship, and investment opportunities. This will allow them to optimize their wealth and reduce the risks associated with regional and national economic downturns.
With the evolution of technology and the digital economy, people are becoming global citizens and are no longer tied to a geographical location for their business or their personal lives. In this new world, entrepreneurs and business owners will be able to benefit from the expertise of specialists and platforms, like mine, that provide access to international tax advisors, financial institutions, and legal experts on asset protection.
Ultimately, my vision is for people to feel empowered to take control of their financial future, and not be limited by traditional tax systems or financial structures. By embracing a forward-thinking approach to wealth management, entrepreneurs and business owners will be able to thrive on a global scale, create generational wealth, and contribute to the greater good of society.
How can people contact you or get more information?
Our website is GlobalCitizenLife.org, and we are on social media. However not very active on the platforms, but I will be working on that. People can also email us directly at info@GlobalCitizenLife.org
Follow me on Facebook, Instagram, LinkedIn, Twitter, and Youtube, or visit my website for more info!
