Your complete, clear and concise guide to successful offshore saving and investing…
Investing offshore is seldom synonymous with ‘accessibility’ or ‘convenience’ - in fact just the thought of ‘offshore investments’ turns many people cold with confusion.
Yet offshore investing is accessible to all - and the bottom line is it can be a straightforward way to optimise your financial returns whilst minimising your taxation burden.
So, if you’re considering offshore investments for the first time and would like a helping hand, or you’re already a savvy investor but would like a few top tips, this guide gets down to the basics of successful investing and saving and shows you how and why the offshore world is accessible to all.
Now, don’t forget that everyone’s personal circumstances are unique, therefore any decision you make regarding the management and investment of your money has to suit you, your goals and your objectives.
This guide is designed to give you advice, tips and pointers but the information can only ever be generalised, you may find some of it does not apply to you and therefore, it is always, always essential to get personalised advice from an investment expert before making any final decisions…right, let’s get on with it!
1) Understanding our investment objectives and goals.
Why do you want to save?
As no one knows what tomorrow will bring…apart from bills probably…by saving you can: -
a) protect yourself
b) protect your family
c) protect your lifestyle
d) protect your FUTURE and get the best out of life
If you have money in reserve for
a) a rainy day
b) a wedding
c) that dream holiday
d) your child’s education
e) your retirement etc., etc
you are better protected, you are better covered, you are in more control.
That is ultimately why most people choose to save. If you keep that in mind you won’t go far wrong!
2) So, what is offshore?
In the context of investments and banking and all things money, ‘offshore’ generally relates to a low tax jurisdiction, and it certainly relates to a jurisdiction other than the one in which you reside.
Some of the more common jurisdictions that you may already be familiar with like the Channel Islands and the Isle of Man for example, offer the sort of flexible laws, financial incentives and tax breaks synonymous with ‘offshore.’ I.e., you may well benefit financially if you choose to invest or bank in these jurisdictions.
The specific financial advantages an investor may achieve from an offshore centre will of course depend on a myriad of circumstances - from how an individual invests, where they reside, how they choose to draw an income from their investments etc., etc. But some examples of financial advantages achievable by ‘going offshore’ include no or very low tax liability locally on any income derived from savings and investments held by an investor regardless of their country of residence, to total local tax exemption for non residents of the given offshore jurisdiction.
