Offshore Savings and Investment

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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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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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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Five Fab Finance Tips to Help Expat Savers

Thursday, June 18, 2009 at 10:54 am

If you’re moving abroad then the financial pressure is really on, and at a time like this when there is not a lot of spare cash floating around for anyone, you need to be as frugal and as careful as you can be.

Alternatively, if you’re already living abroad and perhaps suffering the effects of a weak home currency and a now much more expensive lifestyle thanks to currency fluctuations, time can be equally tough and you may well find that you too need to be careful with every penny to make sure nothing’s wasted.

Well, in this report we have 5 fabulous finance tips to help expats and to help expats to save a little money as well. After all, we’re all aware that money moguls say we need 3 months salary squirreled away just in case, so here’s how to be healthy with your cash so that you can stash some of it away for a rainy day.

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Expat Savers Encouraged to Start Small Rather Than Not at All

Monday, June 15, 2009 at 10:12 am

Moving abroad, setting up a new life in a new country and building a fantastic international lifestyle (!) are expensive undertakings – which is why many expatriates end up in debt as soon as they arrive overseas. Some are in such a dire financial state that they never recover, and we at Shelter Offshore always try and encourage anyone who’s thinking about moving abroad to get their finances in order first.

If you’re moving to live somewhere in Europe at the moment you’ll already be aware that your British pounds are buying you less, but no matter where you relocate to in the world, you will take a major financial hit – unless of course your company is paying for your emigration!

So, to suggest that expatriates immediately embrace their expatriate advantage and start squirreling away millions into offshore investment solutions is perhaps a little over optimistic – at best! But actually, expat savers are being encouraged to start saving small amounts as soon as they become tax resident in a new nation, rather than not saving at all. And we’ll explore why in this report into expatriate finance and making the most of the money you have.

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Offshore Savings Accounts for Expatriates

Friday, June 12, 2009 at 12:53 pm

You may well be wondering whether there is any point in opening an offshore savings account. Perhaps you prefer to manage all your money onshore in your new nation of residence now that you’ve moved abroad, or maybe you still have everything going through the British system as that is what you know and trust.

However, when you move abroad and lose your tax residency status in the UK, you can potentially benefit substantially from even the simplest form of offshore savings account. This is because your interest earned on such an account can be paid gross of tax, allowing you, depending on your circumstances and the nation in which you reside and are tax liable, to either legitimately avoid tax on your savings, or to defer the payment of taxation.

Even if you can ‘only’ defer payment of tax by having an offshore account, you can still benefit substantially – this is because you can defer it to the point at which perhaps your tax status is such that you pay reduced taxation, or else it allows a greater compounding effect to benefit your money. In this report we’ll take a look at the offshore savings account options for expatriates – so that whether you have a great deal of wealth to save and a requirement for a complex solution, or you just want to drip feed an account and get a better interest rate offshore, we will show you your options.

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Offshore Interest Rates More Attractive

Thursday, June 11, 2009 at 11:54 am

In this current economic climate it’s getting increasingly hard to find a bank account or savings scheme that will return interest rates that even beat inflation – therefore, the news that offshore interest rates are more attractive should be music to your ears!

Expatriates who have any money on deposit in their new nation of residence or even in their old nation of domicile, may well find that if they choose to offshore their excess cash, their savings and their investments, that they can have access to far more attractive rates of interest and returns in general.

But how do you actually find these higher interest returning savings and investment schemes, where can you find an offshore bank account that pays interest on deposits, and how can expatriates take advantage properly of all the offshore financial facilities available to them? In this report we take a closer look at the world of offshore money for expats…

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Offshore Savings and Investment

Offshore Investment