Offshore Investment, Savings & Banking Guides and Advice

Why do Shelter Offshore Readers Hate the Isle of Man?

Friday, July 03, 2009 at 10:43 am

Since publishing an article this week about saving offshore in the Isle of Man we have been inundated with complaints by our readers who point out the scandals and negative headlines that have dogged the jurisdiction over the past twelve months or so.

But why do Shelter Offshore readers hate the Isle of Man so much? Are so many of them victims of the collapse of Kaupthing, Singer & Friedlander or are they victims of the misinformation that has been spread about the island ever since?

We decided we needed to set the record straight on the Isle of Man’s behalf. We don’t have a preference over offshore jurisdictions, but we do feel that the negative publicity the island has been suffering is actually unfair. Yes, Kaupthing, Singer & Friedlander collapsed and resultant concerns have not been handled swiftly, efficiently or comprehensively enough for some victims…however, that is only one part of the story.

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Switzerland a Top European Tax Haven

If you wanted to know where the super wealthy like to hide away from increasing taxes in countries like the UK, a new survey of the so called ‘mobile wealthy’ – i.e., those who can relocate overseas and not have their working lives affected by the move – prefer Switzerland above all other offshore tax havens.

The survey, which is a brand new one launched by Scorpio Partnership, strategic advisors to the wealth management industry, spoke to high net worth individuals and their advisers in 11 nations internationally to determine which country stands out as a top tax haven.

Switzerland came out on top and proved itself to be almost the perfect jurisdiction for everyone, as it practically all things to all men (and women)!

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Mapping Your Path to Financial Success Abroad

Thursday, July 02, 2009 at 1:10 pm

If you’re planning a new life abroad I’m sure you know where you’re going! You’ll have your destination all mapped out, you may even have a job you’re going to, perhaps you’ve even purchased the house you’ll be living in? All of this planning is essential for the move overseas to be a smooth one…but what about mapping out your path to financial success once you move abroad?

Are you thinking of leaving your savings ticking over as before, perhaps you haven’t given your pension a second thought? And what about your mortgage back in the UK, how will you still afford to pay that when you’re earning in a different currency? Then there are the questions about your life insurance and your health insurance. Have you taken all of these into consideration when planning your relocation overseas?

Few people take the time to get their financial affairs fully in order before they move abroad – because there is just so much more to get organised, and finances can often wait. As long as you have the money to make the move and you have an income to support you once you’re living overseas, that’s the main thing in terms of initial financial planning. However, there is so much more to successful expatriate wealth – and in this report we’ll map out the essential considerations for you. Follow our lead and you’ll discover your own path to financial success abroad.

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Why Expats Really Have No Excuse When it Comes to Pension Saving

Wednesday, July 01, 2009 at 11:02 am

If you don’t save for your pension you are the only one who will be damaged by your lack of financial commitment. You are the one who will suffer financially, you are the one who will have to work on way beyond state retirement age, you’re the one who will miss out on the golden years.

And you know what, expats have even less of an excuse when it comes to pension saving and investing than their peers back onshore – and that’s because they have so much more choice of saving and investment vehicle to use to save towards retirement.

In this report we’ll look at why you, as an expatriate, really should be saving towards retirement, and how it is actually so much easier for you now that you’re living abroad and have so many more pension options available to you…

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Offshore Savings in Isle of Man

The Isle of Man is one of Great Britain’s offshore jurisdictions, and it has an exceptionally good reputation directly as a result of the supervision regime in place on the island governing the financial institutions that operate therein, and because of the investor protection scheme in place.

Many of the most reputable financial advisories recommend funds and savings based products based in the Isle of Man to their clients, as part of a balanced portfolio. This is because of the jurisdiction’s reputation on the one hand, and because of the wealth of offshore savings and investments available in the Isle of Man on the other.

If you’ve been recommended the jurisdiction or you’re wondering about the island’s offerings, in this report we examine why the Isle of Man is so well respected, and what kinds of offshore savings, funds and investment account solutions you can find therein.

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Boring As It Is, Why You Need a Financial Review

Thursday, June 25, 2009 at 10:57 am

If you follow the guidelines that we offer up on this website and you’re an expatriate, chances are you have your financial affairs nicely in order. You’ve worked to pay back any substantial debts, you have an emergency fund close at hand, all of your essential insurances are in place, and finally, you are growing a healthy financial portfolio that is well diversified and perfectly aligned to suit you and your requirements.

Or at least the above is the plan you’re slowly but surely working towards…

Well then, having taken the time to align your expat financial affairs correctly, why do you suddenly need to think about reviewing your finances? In this report we will show you why, as boring as it is, you need to have a regular financial review. And we’ll try not to bore you any more, we’ll just present you with the pertinent facts and information that you need!

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Offshore Havens Doing Their Best Despite Criticism!

Since America and Britain dragged themselves and the rest of the world into financial turmoil, countries like the US and Germany have been tackling the issue of illegal tax evasion head on in a bid to claw back taxation revenue to try and block the holes in their own economies.

They have been joined by nations across Europe initially, and then by all G20 countries – and now the latest news is that sanctions have been agreed upon and that they will be imposed on non-cooperative tax havens.

However, most offshore tax havens are doing their absolute best to comply with exchange of information requests for example, and they are doing so despite criticism still being levelled against them. It seems that some countries are desperate to try and deflect attention away from their own economic incompetence, and instead shine a spotlight on offshore jurisdictions such as Switzerland and Luxembourg…

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Most Important Money Information for Expats Ever!

Wednesday, June 24, 2009 at 12:17 pm

Well, this article has a lot to live up to if the title of it is anything to go by, we haven’t put pressure on ourselves here or anything! But yes, we are about to impart what we feel is the most important money information for expats ever!

It has to do with making sure that you have a safety net when you move abroad and are living life overseas as an expatriate, it’s about how and why to build that financial safety net and where you can put it to keep it safe.

Many people are aware that they have to have cash on standby for a rainy day, but in this article we’ll go over all elements of this theory, and why expatriates are especially vulnerable if they don’t have money put by, and where that money should be stashed so that it is safest.

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Living Abroad Insurance Tips

Tuesday, June 23, 2009 at 12:01 pm

Getting everything arranged for your move abroad takes a great deal of time and effort, and to get it right lists have to be written, plans have to be adhered to and there is a lot of stress that goes with the inevitable excitement. If you manage this part of the move successfully however, it will set up your new life very well indeed.

And we feel that this is key to getting off on the right foot abroad, after all, if you arrive in a state of disarray and then have to face the inevitable chaos that ensues when you attempt to get your new life in order, you’ll be drowning in cardboard boxes for months!

On top of all the arrangements that have to made to ensure that your move abroad goes swimmingly, is getting all of the essential insurances in place to make sure that you and your family, your health, wealth, wellbeing and even personal possessions are covered at home, on the move and abroad. In this report we’ll cover all of the living abroad insurance tips that you need so that you don’t even have to write your own ‘to do’ list, we have it covered for you.

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Why Do Expats Need Specialist Financial Advice?

Friday, June 19, 2009 at 10:40 am

If you’re a regular Shelter Offshore reader you will have noticed that we’re always banging on about the importance of seeking financial advice from qualified, professional and experienced expatriate financial advisers. We like to impress upon our readers that when it comes to getting their finances in order, they need this specialist advice – but why do expats need specialist financial advice?

Well, that is a very fair and good question – after all, it could just be that we’re trying to sell you a line or drive you down one particular route. However, the fact of the matter is actually far more transparent and simple than this. When you move abroad your taxation status changes and this has a significant and far reaching impact on every single area of your financial affairs.

If you embrace your new situation correctly and you enhance your savings, investments and banking practices appropriately you can make the most of living offshore and being an expat – and it is these expatriate financial advisers who we talk about who are best trained and who correctly understand your situation and how best to make the most of it. In this report we will talk in depth about why expats need specialist financial advice…

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