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Offshore Savings Accounts and Interest Rates
Thu, November 12, 2009 - 9:35 am EET
An assumption can often get us into trouble – for example, if we assume that the weather in the Mediterranean will always be warm and sunny and we relocate to Cyprus and discover that actually, in the winter it’s cold and it rains, such an assumption will find us wet and miserable!
When it comes to money matters – any assumption can be highly costly! For example, if you assume that an offshore savings account will offer you the best interest rates simply because it is offshore, you could well be barking up the wrong tree.
Some offshore savings accounts offer more dire rates of interest than you can actually get by staying onshore – and they lure you in to taking out such an account with the taxation saving advantages that you may be able to prosper from with such an account! The moral of the story therefore is that when it comes to your money, it matters so much that you really need to look closely to make sure you’re getting the best deal for your wealth.
Why Offshore & Expatriate Financial Advisers Don’t Want American Clients
Tue, November 10, 2009 - 9:37 am EET
It’s not a good time to be an American if you want advice about how to grow your wealth – even if you’re an American living abroad no one will give you financial advice! The IRS is cracking down on tax evasion – and in so doing it is turning American citizens into pariahs in their own country and overseas.
We understand why the American authorities have launched an all out assault of taxation evasion in a bid to prevent it, bring all their citizens in line and in some small way shore up the American economy, but their incredibly heavy handed approach is the equivalent of using a sledge hammer to crack a nut.
It is because the American authorities are being so threatening in their pursuit of supposed lost revenue that offshore and expatriate financial advisers do not want American clients – it is just not worth the risk and the hassle. You see, American tax authorities are now opening new offices around the world in a bid to streamline their investigations into taxation avoidance – and they are looking at who has advised Americans and who has assisted them in going offshore. So it’s no wonder no one wants to touch American clients, after all, who wants to be the subject of an investigation.
Retire Abroad But Don’t Lose Out On Your Pension
Mon, November 09, 2009 - 9:13 am EET
Those who have already retired abroad away from the UK have lost out to the tune of billions just from currency fluctuations over the past two years, and even greater numbers of British retirees are losing up to 40% a year on what they should be receiving from their annuity.
Retired Brits abroad are being charged monthly for international transfers of their pension income as well, and all in all, Brits who should be living the dream abroad in retirement are being ripped off left right and centre. Are you in the same boat?
In this report we’re going to highlight the financial pitfalls that you need to be aware of when you’re planning on retiring abroad, and we’re going to show you how you can retire abroad but not lose out on your pension income. If you’re also thinking about going to work overseas before your retirement, there are ways that you can further enhance your future pension gains through the utilisation of far more attractive offshore savings vehicles than a traditional pension.
How Do Expats Invest Their Money?
Tue, November 03, 2009 - 10:03 am EET
According to one of the most influential studies of expatriates globally, over two thirds of the world’s international citizens are able to save far more intensively once they have moved abroad, directly as a result of their expatriate status.
The HSBC Expat Explorer Survey reveals that 68% of expats are actively able to save and invest more than when they lived in their original home nation – and these international individuals are really taking the expatriate advantage by the horns and making the very most of their time abroad financially speaking.
So how do expats invest their money? Do they place it all offshore to grow in a savings account, do they invest in the stock market at home or overseas, or do they give it all to a financial adviser to manage for them? We thought we’d have a look into expatriate saving and investing habits to see how the increasingly wealthy are managing their money. For those of you who are moving abroad and for those of you who are already working overseas and in a position to save more wealth, the findings may well prove interesting and even inspirational.
Isle of Man Savings Accounts
Tue, November 03, 2009 - 8:19 am EET
The Isle of Man as a jurisdiction has taken a battering in recent months because of the collapse of the offshore arm of the Icelandic bank, Kaupthing Singer & Friedlander on the island. The investor protection scheme in place in the Isle of Man has been criticised for not offering enough protection to those who choose to place their money with institutions within the jurisdiction for example.
What’s more, the Isle of Man financial authorities have been called to account by many as they feel that they were not tough enough in terms of the regulations they had in place to prevent financial institutions from collapse. So, are Isle of Man savings accounts worth taking a risk on, and why do so many expatriate financial advisers still recommend the jurisdiction to savers and investors?
We’re going to examine the Isle of Man and its suitability as an offshore jurisdiction for expatriate savers, revealing the truth behind the regulations and protection in place for those who do business through the island, and explaining why it is still so highly regarded by those in the financial services industry.
UK Expat Savings Accounts
Mon, November 02, 2009 - 8:55 am EET
The pound is going through a period of wallowing at an all time low in the face of major currencies around the world, and so for expatriate Britons, going to live and work abroad can be an escape not only from the gloom of the Great British winter, but an escape from the weakened pound as well.
However, where can UK expat’s save their hard earned cash – after all, keeping it onshore in the UK is not going to ensure a good interest rate on any invested cash is it? The best rates kicking about at the moment are in the region of 3 – 4% at an absolute maximum, with most barely offering much more than the base rate.
UK expat savings accounts held offshore on the other hand can attract an altogether better deal potentially – you just need to know where to look to find the best deals! In this report we’re going to guide you towards finding the best home for your cash savings whilst you’re living abroad.
Best Savings Offshore - How To Get Higher Interest Rates
Fri, October 23, 2009 - 8:29 am EET
A recent survey by Halifax International reveals that over 60% of expats have seen the value of their investments and savings pots fall over the past year to eighteen months – which is really unsurprising given the fact that stock markets have suffered, property prices have dwindled and interest rates have dropped to record low levels during that period of time.
The good news is that for anyone looking for a better return on savings over the longer term, now could be a great time to dive in to the market because not only are banks competing for your business, but stock markets are starting to bounce back, the price of gold is strong, new property funds are coming to the market with low initial investment criteria, and there are options and alternatives out there that you can embrace for the health of your wealth.
In this report we’re going to talk about getting the best savings offshore – and more specifically, how to get higher rates of interest and returns on your savings and investment portfolios – because did you know that some of the most exciting savings solutions offering the best interest rates are never advertised?
