Expatriates that have relocated to a foreign country for the umpteenth time or have elected to retire abroad require special thought to how their money is managed and invested
A very popular consideration for these transient expats is moving their funds offshore, some of the key drivers for this are, being able to maintain a consolidated view of all their investments, easy access to their funds from any jurisdiction, tax efficiency, and statuary consumer protection
Some examples of these premier offshore investment centres include the Isle of Man, Guernsey, Jersey, Luxembourg and Mauritius to name a few. All of these jurisdictions benefit from stable governments, strong regulatory controls and measures to protect policyholders.
The big question is what do you invest in offshore? This is a very personal choice and is different for each individual depending on their circumstances. The whole point of making use of an international offshore investment centre is to build capital in the most effective way. This can only be done with putting the correct strategies in place that consider inflation, tax and capital growth.
It is important to seek the advice of a good offshore advisory that can assist expats with the following typical services:
- Open offshore bank accounts with global access and management of their funds
- Move money offshore at extremely low rates from South Africa to to Australia, New Zealand, USA, Canada, UK and other countries worldwide
- Invest their money in the most tax efficient way In order to stimulate real compound growth
- Unlock or move their pensions to favourable jurisdictions that provide greater flexibility in managing their retirement funds (Nationality dependent)
- Diversify their portfolio by having access to far more investment opportunities offshore than would be readily available onshore
- Protect their assets by restructuring ownership through trusts
- Maintain a level of Investor confidentiality
- Hedge against currency fluctuation