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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?
Lock in to Headline Offshore Savings Rates But Not for Long!
Tue, October 20, 2009 - 11:04 am EET
No one knows which way economies and stock markets are going to go at the moment, history is writing itself with no help from analysts and those who predict the market for a living. Interest rates are at an all time low in the UK for example, and people’s savings and investments have all taken a battering of late.
If you’re an expat you’re not immune to the economic knocks and bumps that impact our wealth, and according to Halifax International’s survey of expats, over 60% have witnessed a real and impacting depreciation in the value of their portfolios over the past year.
However, there is some good news, and that is that there are hot deals on offer from some of the offshore banks and financial institutions because they’re after fresh cash! But our suggestion to you would be perhaps lock in to these preferential offshore savings rates, but not for long because if interest rates rise, you may well find you’ve locked in for less.
QROPS, Offshore Pensions and Retirement Options for Expatriates
Tue, October 13, 2009 - 9:13 am EET
According to the Sunday Times there has been a significant increase in demand from those seeking to leave the UK and take their pension abroad with them – in part they put this down to the impending 50% tax hike in Britain, but in part we would say it has a great deal more to do with people being prepared to turn their backs on the UK for good.
With the news out yesterday that the government is seeking to sell off about 3 billion pounds worth of public assets in a bid to ease national debt, (that apparently already exceeds the 1 trillion pound mark – we’re thinking ‘drop’ and ‘the ocean’), it’s easy to see that things in great Britain are not going to get any better for a long time, and in fact, they’re highly likely to get an awful lot worse…
So, it’s no wonder that people like you may want to move abroad – and you probably want to take your savings with you as well. After all, would you leave your money in a bankrupt country willingly? No – neither would we! So, here for your assistance today is a report about QROPS, offshore pensions and the retirement options for expatriates so that you can take all your savings offshore and overseas to safer, more tax friendly havens.
Onshore Savings Advice is Valid for Your Offshore Savings Too
Fri, October 02, 2009 - 9:26 am EET
The wonderful world of offshore really isn’t so complex, and in many fundamental and important ways it isn’t so different to saving, investing or banking onshore. Having said that, and before going any further, of course it has to be said that the argument between onshore and offshore for your own personal finances is one that you and only you can decide upon with the help and advice of a qualified adviser!
That said, some offshore savings advice is valid when it comes to your offshore savings too – and in this article we’re going to impart 10 top tips for savvy offshore saving that apply to your onshore cash deposits too. It’s mainly about taking a commonsense approach to managing your money, and beating the banks at their own little games that otherwise see you losing out potentially.
So, if you’re an expat with your money invested offshore, this article is very much for you – however, if you’re thinking about the cash you also have onshore, or you’re thinking about one day repatriating, then this article will still be of value!
