{"id":3613,"date":"2013-10-28T12:53:25","date_gmt":"2013-10-28T10:53:25","guid":{"rendered":"https:\/\/clusterfamilyoffice.com\/blog\/?p=3613"},"modified":"2013-10-28T12:53:25","modified_gmt":"2013-10-28T10:53:25","slug":"que-es-un-outpost-family-office","status":"publish","type":"post","link":"https:\/\/clusterfamilyoffice.com\/en\/que-es-un-outpost-family-office\/","title":{"rendered":"What is an Outpost Family Office?"},"content":{"rendered":"

\"\"The concept is new and meets a logical and increasingly common need in a globalised world. It is common knowledge that Family Offices are companies or groups of professionals that are essentially dedicated to the management and control of the assets of one or several families, as well as to attending to all aspects that may affect these family groups, such as taxation, legal advice or assistance in family logistics and concierge services (concierging), among others. But the new figure that has appeared for the users of a Family Office (whether they are Clients of a Multi-Family Office, or owners of a Single-Family Office), is that of the Outpost FO, or global support network for a Family Office.\u00a0<\/strong><\/p>\n

These are other (Sinlge or Multi) Family Offices located in other countries far from the original Family Office that, on an occasional or recurring basis, provide logistical, legal, tax or investment advisory support for the local needs of these users or owners of Family Offices in other countries. In other words, they act as remote representatives of the original Family Office for the needs of the clients or owners of FOs when they wish to visit, study, work or invest far from their country. The use of large law firms and their global networks of associated law firms, but in this case of Family Offices that cover all the needs of their Clients, which as is well known cover 360\u00ba including everything related to money and Family members. Here are some examples of needs that any family of a certain level of wealth may have on a global basis:<\/p>\n

The logistical support of a family office may be a necessity. in situ<\/em>, when our children are going to study\/work abroad, in which case the Outpost FO<\/strong>\u00a0may look for and maintain the property where the person concerned is to reside. Or it can look after the expenses and needs of these descendants throughout the time they have to be away from their country of origin. And of course, they can manage academic enrolment and other formalities with the universities they wish to attend, as well as all the documentary procedures with the immigration authorities and local embassies or consulates, etc... They can also advise them and intercede for them with the local labour market, getting them internships or prestigious jobs in companies that the Outpost FO must know perfectly.<\/p>\n

Another essential task that these on-site or external Family Offices can perform through the original Family Office contracted by the Family, is to analyse and provide local investments that are of interest to the Clients. For example, what better than a prestigious and trusted local Family Office to determine a good real estate or corporate investment to make in a country that is distant and unknown to us? We say trusted, because it is vital that our original FO has an exquisite selection of FOs around the world on which to rely in order to optimise the global attention to the needs of its Clients.<\/p>\n

It should not escape anyone's notice that making an investment, whether corporate or real estate, in a remote and unknown country is difficult to carry out successfully. And good local advice is key to making the investment without running the risk of making mistakes or having unpleasant surprises due to misunderstandings or lack of knowledge of local laws and regulations on such important issues as taxation or accounting standards. In many cases, these Output Family Offices will also have to act as property managers for the investments in these countries that the original FO Clients may have, managing their rents (repatriating or reinvesting them), taking care of all types of works and repairs, taxes and municipal legal documentation, maintaining a high level of occupancy, etc.<\/p>\n

It is true that the original Family Office could look for and find specific companies in those distant countries that could provide specific solutions for each of its Clients' needs all over the world. But everything will be much simpler and more efficient if it is channelled and centralised through a good local Family Office, which in turn will already have solutions available.\u00a0inhouse<\/em> or subcontracted to cover all these needs for their own Clients and in their own country.<\/p>\n

If there is no trusted network of Family Offices at a global level or Outpost Family Offices, what will happen in practice is that -no matter how much international vocation the FO has- the bias of its investments will be more local. And the universe of external support of all kinds available to its clients will be smaller and much less tested than the network of solutions available to the respective local FOs in each part of the world.<\/p>\n

All this is of vital importance in an increasingly global world. In which the economies that are growing and will soon dominate the world are far away from the Old Continent. And it will not only be vital to have this global network in order to have the best attention and logistical support for the whole Family that hires the services of a Family Office, but also to be able to have an investment universe that includes as a priority the new centre of the economic world (Asia). Making this remote continent much closer and more accessible for our money, and also for our family concerns of all kinds. For this reason, because the world is more global than ever, and because the economic centre has moved from Europe\/USA to Asia, the figure of the Outpost Family Office is a concept that is increasingly necessary and whose reality is here to stay.<\/p>","protected":false},"excerpt":{"rendered":"

El concepto es novedoso, y viene a cubrir una necesidad l\u00f3gica y cada vez m\u00e1s com\u00fan en un mundo globalizado. De todos es sabido que las Oficinas de Familia o Family Office, son empresas o grupos de profesionales que se dedican esencialmente a la gesti\u00f3n y control del patrimonio de una o varias Familias, as\u00ed […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[54,57,58,39,52,37,48,49,50,55,56],"tags":[],"class_list":["post-3613","post","type-post","status-publish","format-standard","hentry","category-asesoramiento-patrimonial-deportistas-artistas","category-funcionamiento-family-office","category-crear-mi-propio-family-office","category-crear-mi-propio-family-offices","category-asesoramiento-patrimonial-multi-family-office","category-reflexion","category-asesoramiento-patrimonial-multi-family-office-crear-mi-propio-family-offices","category-funcionamiento-family-office-crear-mi-propio-family-offices","category-crear-mi-propio-family-offices-crear-mi-propio-family-offices","category-necesito-un-family-office","category-que-es-un-family-office"],"_links":{"self":[{"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/posts\/3613","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/comments?post=3613"}],"version-history":[{"count":0,"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/posts\/3613\/revisions"}],"wp:attachment":[{"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/media?parent=3613"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/categories?post=3613"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/tags?post=3613"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}