Client story
Client's Story
Where they started
Vladimir worked for international companies throughout his career and carefully accumulated pensions in reliable jurisdictions—a private pension fund in the United Kingdom and a pension plan in the United States. By the time of retirement, this provided him with a respectable passive income in pounds and dollars, on which he planned to live in Europe.
Why the standard route did not work
The problem emerged with the first payment. The British fund withheld tax at source before transfer, citing that the recipient was a tax resident of a country with which there was no convenient tax treaty mechanism. The American plan behaved similarly. As a result, a noticeably reduced sum reached his account, with the prospect of additional taxation in his country of residence making the situation even more unfavorable.
What BRIDGES had to solve
Vladimir did not attempt to evade taxes—he was prepared to pay where legally required. However, he did not want to pay twice on the same money he had been setting aside for decades. He needed a clear European tax status that would allow him to apply tax treaty benefits and receive his full pension.
Why a standard answer would not do
He came to us with a straightforward request: arrange for his pension to be received in full and legally, without surprises from the funds and without double taxation.
I set aside money for this pension for forty years and paid all taxes while earning. Now they're taking a portion again before the money even arrives in my account. I simply wanted to receive what is mine in full—and for it to be legal. BRIDGES explained how to do this through Malta.
