Managing your wealth offshore can offer you a range of advantages:
The term “offshore” originally comes from banks located offshore from England in the Channel Islands, but is now used figuratively to refer to banks in many regions, particularly Bermuda, the Cayman Islands, Bahamas and politically neutral European jurisdictions such as Switzerland and Luxembourg.
Individuals or organizations may be interested in placing assets offshore for a variety of legitimate reasons, including:
- If you live in a country where you would prefer not to hold all of your financial assets, you can protect your wealth and invest your money how you want to, through secure financial institutions based in locations such as Jersey Guernsey and the Isle of Man. These locations are protected by the United Kingdom and offer excellent investor protection laws.
- You can access a diverse range of investments or other financial products that might not be available in your home country, as there are over 10,000 investment funds available to you.
- There may be certain tax advantages to holding your wealth offshore. This depends on your particular circumstances, where you live and where you pay your tax, we can assist you in ensuring your current structure is as tax efficient as possible for your circumstances now and in the future. Access to politically and economically stable jurisdictions. This may be an advantage for individuals who reside in politically unstable regions in which they cannot be confident as to the security of their assets.
- Tax neutral. Having no added local tax burden is a useful advantage for individuals who are not obligated to pay tax on worldwide income, or who may be able to defer taxation. It also allows individuals to structure their assets without having to worry about local tax complications.
- As part of estate and/or asset protection planning.
- Broader “global” view than often found with onshore institutions.
- Strong privacy and confidentiality laws to help protect depositor’s privacy.