Hetal Sanghvi

Spear's Review

Hetal Sanghvi of Edwin Coe caters to two unique but significant wealthy client bases: Indian HNWs based in the UK and global Indian families — all of whom she says have a UK nexus, be it their residency or the location of their assets. 

'The tax system in the UK can be difficult to navigate and there are a number of capital restrictions in India,' she tells Spear's. One strictly enforced rule that proves troublesome for HNWs outside India is a $1 million (plus current income) annual limit placed on transferring capital outside of the country. 'There's also a limit of $250,000 for Indian FEMA residents. For a wealthy family that has hundreds of millions of pounds in assets, that's not enough to be able to pass on wealth to the next generation,' she says.

Sanghvi often works with Indian banks to pioneer 'clean capital' whereby money can be remitted to the UK 'without further tax to pay and remain invested onshore in India.'