hollywood billionaire

Chapter 5 Real Estate Demand

“您的账户自2011年10月21日创建，11月2日通过审核成为私人银行客户……2012年2月13日开通摩根大通的财务管理账户。”

Having said that, Fernando Gonzalez glanced at the documents in front of him seemingly casually.His description was very simple, but the customer information in front of him was densely written.

2011年10月21日，一家注册于北卡罗莱纳州的夏洛特市，名叫S42H19的有限责任公司通过公司账户在大通银行为韩易存入第一笔500万美元的款项。

You read that right, S42H19 is the name of the company.In the United States, many rich people will set up this kind of limited liability company composed of meaningless letters and numbers when buying properties or transferring assets. Some are to conceal their true identities, and some are to avoid personal income taxes.After all, natural persons with an annual income of more than US$41.5 need to pay a personal income tax of 39.6%, while corporate income tax is paid in a step-by-step system. Even if an income of more than US$1800 million is reported, the tax rate does not exceed 35%.

Of course, this is the tax rate under the Democratic administration. In 2017, the 115th Congress, controlled by the Republican Party, passed Public Law 115-97, also known as the Tax Cuts and Jobs Act, which slashed the corporate tax rate to 21%.

For the flow of large amounts of funds, Chase Bank naturally conducted detailed due diligence. After discovering that the funds came from overseas, the bank even mobilized the Los Angeles, California and federal leaders of the Financial Crime Compliance Department to participate in the investigation.

The source of the funds is very clear. It was wired to S42H19’s account in the United States by the Canadian Imperial Bank of Commerce, which received the money from CIBC First Caribbean International Bank. CIBC First Caribbean International Bank is no stranger to ultra-high-net-worth individuals in the United States. This bank was formed by the merger of the Caribbean operations of Barclays and Canadian Imperial Bank of Commerce. It has offices in Barbados, the Bahamas and the Cayman Islands. There is a branch, and the money was remitted from the account of the Cayman branch.

Within two years, S42H19 made as many as 167 transfers to Han Yi's Chase account, ranging from hundreds of thousands of dollars to tens of millions of dollars, and paid income tax in full for each remittance. According to the IRS data, from 2012 to 2015, Han Yi’s 1040-ES and W-9 forms were filled in impeccably, and the declaration of personal income and income tax forecasts were not faulty, and could even be called The above is an exemplary tax individual who can be recognized by the federal government.

This is why Fernando Gonzalez and his colleagues are in awe of Han Yi, or the "family" behind him.

Do not rely on gray remittance methods to directly contact Chinese banks in North America, nor establish local trust funds, and avoid taxes through complex income structures.Instead, the family sent Han Yi US$1.85 million in cash from the Cayman Islands, a tax-free paradise, through direct wire transfers from Canada to the United States, eating up all personal income taxes.

Just to let him exercise his independent financial management skills?
There are only two possibilities for choosing to do this. The first is that the family is so stupid that they don’t know how to avoid taxes. The second is that the $1.85 million and the resulting taxes are not worth mentioning to them.Just to let Han Yi be 100% legal and use the funds without any scruples.

Will the family that can earn $1.85 million be the first type of person?
Thinking of this, Fernando Gonzalez cleared his throat, and the arc of the corner of his mouth rose a little more.

"Your Chase trading account currently has 52890454.76 US dollars, you can withdraw this money at any time, and the annual interest rate is 0.1%"

"0.1%?" Han Yi raised his eyebrows. This figure was too low for him to understand. His basic account at Wells Fargo Bank without any upgrades has an annual interest rate of 0.15%. If you deposit 100 million US dollars, you can upgrade To a platinum account, Wells Fargo can even offer an interest rate of 1.98%.

With $5289 million and an annual interest rate of just 0.1 percent, Chase's private banking service looks like a misnomer.

"We really don't offer interest rates that exceed industry standards, Mr. Han." Fernando has been asked this question too many times by customers, and his answers are mechanical, neat and standardized, "But we can provide a complete service with zero fees, ATM cash withdrawals, domestic wire transfers, international wire transfers, online transfers, overdraft protection... We do not charge for all services that private banking customers will involve.”

“Other than that, we offer the best home loan deals. The average federal home loan rate right now is, let me see... ah, 3.65%, as of February 2th. And what we can do for you What I offer, Mr. Han, is a 11% discount. In other words, you can take out a home loan at an interest rate of 0.5%. If you count your extremely high credit score, this number can be as low as 3.15% or even more.” Fernando folded his hands on the table, explaining to Han Yi methodically every one of his rights as a private banking client.

"I believe you can see that everyone sitting here is a one-on-one personal consultant assigned by Chase Bank. I am in charge of the daily management and maintenance of your assets, and Joseph is in charge of your investment consulting in Chase Private Bank. If you need to build a real estate in the federal territory, our great guy Ryan can help you complete every step of the work required to purchase real estate. If you want to run a business in the United States, Jamal can help you through his keen business sense and extensive and deep knowledge. The relationship chain builds a basic platform for you."

"More importantly, Chase Bank cares about every detail of your life, not just wealth. Olivia will be your all-round assistant in your private life, including bills, transportation, accommodation, travel, and even concert tickets, Oscar invitations Letter, you can set Olivia as the first number on the speed dial, because she can help you solve everything with just one phone call."

"Of course, what Chase Bank is most proud of is JPMorgan Chase's wealth management business."

Chase Bank has never been very friendly to ordinary customers. The annual interest rate of savings on ordinary accounts is a very insulting 0.01%. Even for private bank customers, it is only a maximum of 0.1%.The main purpose of Chase in doing so is to attract customers to use JPMorgan Chase's financial management services.

"Most of your cash assets in our bank are also being managed by the elite team at JPMorgan Chase. Specifically, I would like to ask Mr. Patel to introduce you to...Mr. Patel."

"Okay, thank you, Mr. Gonzalez." Akash Patel nodded slightly and greeted Fernando Gonzalez.Akash's complexion is slightly lighter than Fernando's, but the features of the Indian subcontinent are still obvious, with large raised light brown eyes, thick ochre-colored lips, and a bushy beard that can be seen with traces of meticulous repair .

No matter what race or culture they come from, the managers of Chase Bank are carefully wrapped in the glossy skin made of money.

"First of all, JPMorgan Chase currently manages a total wealth of $133772890 for you, which allows you to be identified as the highest-level customer of JPMorgan Chase. The annual fee for our financial management consultants starts from 1.45% of the total assets under management, and then Decrease with the increase of total assets. Your consultant fee rate is only 0.3%, which is our lowest standard. Since 2014, we have also implemented a three-year 25% temporary consultant fee reduction discount. The current annual rate Only 0.225%."

"Based on a co-signed statement of investment objectives - the details of which can be found in Exhibit A of the contract - we have divided assets into several small investment portfolios. Of the $1.33 million, 54% participated in our fixed income advisory plan, FIAP, which is about US$7182 million. 23% of this part of assets goes into JPMorgan Chase’s own investment funds, 76% goes into external funds that guarantee a fixed rate of return, and 1% is traded in JPMorgan’s cash account. We are You are guaranteed an annualized rate of return of at least 3.86% per annum, and the actual figure last year was 5.66%. Need to remind you that we charge an additional 0.7% management fee on the income of the FIAP project, so you will find out what you actually received The payments will be less, but not too much."

"Another 25% of funds use our liquidity management strategy to ensure you the highest cash liquidity and return on income, of which 33% are in our self-holding funds, 66% are in short-cycle external funds, 1% Keep it in our cash account."

“The remaining 21% is split equally between the Dynamic Diversified Assets Plan, the Emerging Markets Development and Income Plan, and the Sustainable Fixed Income Plan...In 2015, we earned over 8.12% on your assets, of which The Emerging Markets Development and Income program yielded an astounding 23.34%."

Akash's memory is quite amazing. When Fernando introduced the team members, he kept his head down and silently reviewed the report.However, in just a few minutes, he memorized the important data exactly, and recounted it accurately and eloquently.

"Is this the 2015 annual report?"

Han Yi clicked on a loose-leaf folder that Olivia pushed in front of him, and asked.

"Yes, Mr. Han. After the end of each financial quarter, we will submit the quarterly report to you within 45 to 12 working days. The annual report is 31 to 45 working days after December 2015 of each calendar year. It will be completed within a few days. What you are seeing now is the income report of your investment portfolio in [-]... The electronic version of the report has been sent to your reserved mailbox, yes[email protected],Is it right? "

"That's right." Han Yi looked up at Akash Patel without showing a hint of surprise.Since they can perfectly and legally operate hundreds of millions of dollars of international transactions, why should they be surprised if they reserve their school mailboxes in advance as the contact information for obtaining reports?

"Excellent explanation, Akash, but I have one more question."

"Please tell me, Mr. Han." Akash sat up straight and looked at Han Yi seriously.

"How soon can these investment portfolios be withdrawn?"

"Ah... Our agreement is very concerned about the liquidity of funds." Akash was stunned, he obviously didn't expect this to be the first question raised by the other party, "That's why you can see, Only 7% of the funds are invested in sustainable long-term investment plans. Most of the funds directly managed by JPMorgan Chase are investor funds with a one-year settlement period, and most of the external funds we choose are also operating Private equity funds with a short cycle. However, in order to maximize returns, some funds are invested in projects with a payback period of 3-6 years.”

"Your first financial quarter of this year has started on February 2th. According to our agreement, you must submit a termination agreement or partial termination 12 days before the last financial quarter of each year. That is to say, you will If it is terminated on March 30, it will be able to get about 1 million US dollars in cash in March 10."

Akash helped the rose gold frame, and glanced at Joseph Braun beside him.

"Mr. Han, if you need to use a large amount of funds in a short period of time, we can provide you with a mortgage loan on cash assets."

"Yes, Mr. Han, we can provide you with a loan of 75% of the total assets in Chase Bank." Joseph wiped away a strand of gray hair that fell on his forehead, and nodded in agreement.

"That's not necessary. I don't have any special plans for now." Han Yi quickly calculated the total amount of funds available from now to this time next year, and waved his hand.

"However, I do have a plan to buy a home. I will live in the United States for a long time and need to buy some assets."

"That's great, Mr. Han, how can we help you?" Fernando Gonzalez said with a smile.

"First of all... I want to buy a new car." Naturally, Han Yi didn't need to deliberately mention the brand or budget, as the few people in front of him knew his wealth very well.

"I want the car now." Han Yi thought for a while and added.

"Thomas O'Gara is a loyal long-term customer of Chase Bank. I have been his business relationship consultant for the past six years." Together, hold them up, "The O'Gara dealership under his name is one of the most prestigious luxury car dealers in Beverly Hills. Their garage has the most complete collection in Los Angeles. If you Convenient, I can make an appointment for you to show this afternoon."

"Great." Han Yi nodded with satisfaction, "Also, I want to add another property."

"This is my specialty, Mr. Han." Ryan McConaughey was the youngest manager in the room, his voice full of the pride and energy of a recent graduate.

"Is there an area you are interested in buying a house? I can help you contact real estate agents in any community in Greater Los Angeles."

Hearing Ryan's question, Han Yi didn't speak in a hurry. He turned his head to the outside of the French window, and tapped his finger in the air.

"There."

Everyone in the conference room looked in the direction he pointed, and at the end of their eyes, there was a shining piece of human galaxy built by wealth and power.

　Thanks to Chang Sheng, ZZZ, the God of Short Hair, and the monthly ticket for the spring breeze gone!

　　Thank you Chang Sheng and grayfox for your tip!
　　
　
(End of this chapter)