Why Save or Invest Offshore?

Summary: According to recent figures published by a leading building society in the UK, the average expatriate household's disposable income has risen 28% in the last twelve months, isn't it time we all defined our saving and investment objectives and made the most of any excess and disposable income?

According to recent figures published by a leading building society in the UK, the average expatriate household’s disposable income has risen 28% in the last twelve months, and people seem to be confused as to what to do with this extra income other than enjoy it!

There’s much to be said for having a good time, especially when you’ve relocated overseas and there are so many opportunities to enjoy your new country of residence, but with the increasing pressures being placed on people globally to fund their children’s education, pay university tuition fees, assist with first time house purchases, save for retirement etc., isn’t it time we all defined our saving and investment objectives and made the most of any excess and disposable income?

Apparently up to 70% of those with disposable income to potentially save or invest offshore haven’t actually defined any investment goals whatsoever, and so goal defining is the most logical place to begin.

The bottom line with putting money aside is security.  By saving today you build security for tomorrow.  You can choose to save to protect yourself, you can invest to protect your family, you can put money aside to secure your lifestyle in retirement and you can basically allocate money towards securing your future and that of your family. 

If you are one of the few people who already have specific investment objectives, for example paying for your child to have a first class private education or affording to personally retire at 50, then you need to begin to understand the added advantages you can give your money by exploiting the whole host of offshore opportunities available to you.

If you’re an expatriate or an international investor, chances are you can benefit from the tax saving opportunities offshore.  Furthermore you might find your money attracts better interest rates offshore and you will have access to such a wide variety of financial products and investment methods once you free yourself from the shackles of the domestic financial world, that you can pick the very best and most attractive products to suit your specific short, medium and long term financial goals.

The very first step you have to take is to undergo what’s known as a financial health check.  This will set you on the right track for offshore investment success by securing your financial position today and aligning your offshore saving and investing appropriately to fulfil you financial goals.

A financial health check is something you must undergo regularly to ensure that you haven’t missed any areas of financial planning that are essential to the overall fulfilment of your lifetime investment objectives.  Furthermore by taking such action you keep abreast of any changes or new opportunities in the offshore world.

By defining your goals, undergoing a financial health check and broadening your perspective to embrace the opportunities offshore, a good financial adviser will then be able to assist you with recommendations of products, services, structures and vehicles to help you establish long term wealth building success.

If you would like to speak to an adviser about any of the points discussed in this article please complete our offshore advice form and we will contact you.

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