7 Wonders Of The Offshore World
By Rhiannon Williamson, Thu Dec 8th
Many people assume that the offshore world is accessible only tothe super rich looking to increase their wealth, or to largemulti national corporations looking to escape taxation. But the truth of the matter is that the offshore world isaccessible to everyone! Placing money or assets offshore is a legal and often worthwhileundertaking and it is something that anyone living in, forexample, the UK, Europe, Canada, Australia or America can doeasily and with potentially great effect.
Before I continue it is imperative to point out that thesuitability of entering the offshore world for saving, banking,asset protection or any other reason can only be determined on acase by case basis. While ‘going offshore’ might be the mosteffective way for one person to operate, it might be totallyunsuitable for the next person because of their personalcircumstances. It is essential that anyone considering goingoffshore seeks the advice of a professional financial adviser.This article does not constitute advice. The potential benefits of saving money offshore, investingoffshore or placing assets offshore are manifold, here are just7 ways that you might be able to take advantage of all that’s onoffer… 1) If you’re an expatriate living, working and paying taxesoverseas, chances are you can secure your savings in a low to notax offshore jurisdiction where they will grow tax free. Withoutthe burden of taxation, savings will benefit from compoundgrowth. 2) By placing money or assets offshore an individual canpotentially protect their financial assets
from domesticpersonal or business litigation. 3) The offshore world sometimes offers individuals a way toreduce or negate inheritance/death/estate tax that will becomeliable to be paid on their estate in the future. Certainoffshore structures such as trusts can sometimes help in thestruggle to legally avoid death duty. 4) Many offshore jurisdictions offer greater levels of personalprivacy and also security which means a person’s private orbusiness transactions are dealt with confidentially and securely. 5) As offshore jurisdictions are less restricted by reportingrequirements etc., people with a high risk tolerance who investoffshore often have access to more exciting and potentiallybetter potential returning investment vehicles. 6) Domesticsavings and investment policies are restrictive for some people;by investing offshore these people have access to the globalinvestment market place which opens up many more opportunitiesto them. 7) Some offshore savings vehicles pay higher levels of interestthan an individual could gain domestically. Because the offshoreworld is so flexible and open and offers such a wealth ofdiverse opportunity for saving, investing and protecting isn’tit time you seriously examined the options available to you? About the author:Rhiannon Williamson publishesShelterOffshore.comfor offshore & international investors Readers ofShelterOffshore benefit from the site’s alliance with deVere andPartners offshore financial advisory. Visit the deVere and Partners page to find out more |
