NH Investment & Securities announced on May 20 that it will hold a "Special Seminar on Reverse Immigration Support Services" for Korean residents in Los Angeles.
This seminar will be held on May 27 in LA County and on May 29 in Orange County. It aims to provide practical and professional information to Korean residents considering reverse immigration, covering topics such as strategies for responding to tax audits upon returning to Korea, asset transfer during reverse immigration, and tax-saving strategies.
Recently, more than 2,000 Koreans in the United States have chosen to return to Korea each year. The biggest challenge in this process is the issue of taxes. When a U.S. permanent resident or citizen returns to Korea, they become a resident under both U.S. and Korean tax laws, making it essential to devise tax-saving strategies that take both countries' tax systems into account. For example, if a parent makes a certain amount of gifts to their children in the United States using the unified tax credit before returning to Korea, they may not need to pay additional gift tax on those assets in Korea. Various tax strategies like this are available.
Additionally, when transferring assets from the United States to Korea during reverse immigration, the timing and method can affect the tax burden. By seeking expert advice and establishing a tax-saving strategy, unnecessary tax payments can be minimized. However, there have been practical difficulties in establishing comprehensive tax-saving strategies, as U.S. tax issues must be addressed by a U.S. accountant and Korean tax issues by a Korean tax advisor.
The NH Investment & Securities TAX Center is distinguished by its ability to provide one-stop solutions for such complex tax issues, as it is staffed with tax experts, including former officials from the National Tax Service of Korea and specialized tax professionals in various fields.
Another important consideration during reverse immigration is the selection of a place of residence and the management of real estate assets. The NH Investment & Securities TAX Center has four real estate specialists who offer comprehensive services, including recommending customized properties in high-value investment areas, consulting on real estate purchases and sales, and providing capital gains tax consulting related to asset transfers. For those with mobility issues, specialized housing options such as silver towns and residences are also introduced. If requested, clients can receive real estate and tax consultations simultaneously, allowing them to resolve the complex reverse immigration process in a single step.
NH Investment & Securities’ reverse immigration support services are available through a variety of non-face-to-face channels, including email, VoiceTalk, and video conferencing, allowing clients to consult with experts anytime and anywhere. A KakaoTalk open chat room is also operated to provide real-time answers to questions related to reverse immigration.
Seats for this special seminar in LA and Orange County are limited, so only those who register in advance can attend. Participation is open to non-clients of NH Investment & Securities as well, and after the seminar, participants will have the opportunity for one-on-one consultations with the speakers to address any in-depth questions they may have about reverse immigration.
Kim Hwigon, head of the NH Investment & Securities TAX Center (Director), said, "We will provide customized solutions across all areas that Korean residents preparing for reverse immigration are most curious about, including tax, real estate, housing, and healthcare," adding, "We hope this seminar will be of practical help to Korean residents in the United States in successfully returning to Korea and establishing asset management strategies."
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