Why Offshore Banking?

You're moving offshore. Why not get a bank account that travels easily too?
Your life is busy - extremely so. A new move. A new environment. New challenges, foreign cultures, tax systems and financial practices - it can be confusing.

Yet one of the great advantages of being an expat is the opportunity to maximise your income potential. However, where do you start?

Some of the questions you may be asking are:

How easy is it to open an offshore bank account?
How can I get immediate access to my cash across the world?
Does my local bank understand the issues that face me as an expat? For example, how to move money across the world?
Is my money secure? Is it safe from political or economic problems that could decrease the value of currency?
Where do I get reliable independent advice on how to maximise returns on my money?
Am I minimising the amount of tax I pay on savings and investments? How do I find out about the tax system in a new country?
What are my advantages as an expat?
Does my bank have language or cultural problems in helping me?
Do I have round the clock access in the currency of my choice?
Do I have to open a new bank account with all the subsequent admin problems every time I move?
These could be some of the issues you're facing. So much so, in fact, that there are specialist offshore solutions provider to cater to expat needs.
You'll find all the answers to all the above questions, and more, in the offshore advantages section

Offshore Banking
Offshore banking can present solutions to many of the issues facing expats, providing a range of "hassle-free" products and services designed to take the worry out of living and working abroad. With expats often needing to move their lives and their finances around the world, offshore banking can help to ease the transition to a new country, company, culture and financial system.

No matter where in the world customers are located, offshore banking can offer a global service that is always close at hand.

Instant access and availability are important to expatriates, as you are constantly "on the move". Account information needs to be accessible 24 hours a day, seven days a week. Automated telephone and internet banking services are pre-requisites together with a website offering a comprehensive range of product and service information plus financial and lifestyle tools.

Current Accounts
Interest bearing current accounts, which provide a flexible and secure

Debit Cards
Internationally accepted debit cards, available in sterling and US dollars and with global payment and cash withdrawal facilities, provide easy access to cash, wherever in the world you might be.

Savings Accounts
Offshore banking offers an extensive range of savings accounts in a variety of major currencies. Instant access, notice and fixed term deposit accounts pay attractive interest rates which increase with the size of the deposit so that you're able to enjoy the highest qualifying rate on the whole balance.

Investments
Specialist teams of financial advisers can offer a wide range of investment, property, and retirement planning solutions. Qualified professionals give genuinely independent and impartial financial guidance, selecting all products on strict performance criteria.

Mortgages
For those who are house hunting and require a mortgage facility, a range of schemes is available for property purchases in the UK, either as a primary home, second home or to rent out or live in. Property purchases in France can also be arranged.

Insurance
Will provide once we are "up and running" with our new alliance - Portfolio

Credit Cards
A choice of sterling credit cards are available, all offering convenience and financial flexibility. With interest free periods available, these cards can help you make the most of your money.

Internet Banking
Internet banking enables you to take control of your finances from the comfort of their own home or the workplace. Ability to view account balances, send payments worldwide, transfer money between accounts, view credit card transactions and set up regular payments are a must, together with the support of a professional and experienced team of staff, on hand to offer assistance if required.

Tax advice
Regular financial reviews plus suggestions on how to exploit the possible tax benefits not only whilst abroad, but also prior to moving away and upon returning home. A tax advisory service, brochures, tax planning tools and country guides all help to take the mystery out of tax matters.

Offshore Investing - What's in it for your money?

The possibility of significant tax savings
Competitive returns
Diverse range of investments
Access to the world's major markets
Security and confidentiality
Investment choices
Capital protected; income generating; capital growth. The offshore market can offer whatever your money needs.
There is a huge selection of investment products available in the offshore market place. When making a decision about where to invest and how, it is often useful to first establish how risk averse you are - and then select an appropriate investment portfolio.

Generally, offshore investment products can be categorised as follows:

Capital Protected Investments
These products are low risk and are designed to return the money that you invest, even if the financial markets fall. The potential growth is provided by a link to a choice of stock markets from around the globe. The majority of these funds have a fixed term - usually between 3 and 5 years.

Income Generating Investments
Bond/gilt funds - provide an income by investing in a collection of Government Securities (in the UK these are known as Gilts) and/or bonds. They are classed as low risk and income can either be reinvested or paid to your bank account (usually quarterly).

Annuities - this is when your capital is given to an insurance company who will pay out an agreed level of annual income for the rest of your life. The level of income is dependent on the age and health of the investor and interest rates at the time the annuity is purchased.

Capital Growth Investments
Offshore funds - invest in the world's equity, bond and money markets. A large variety of funds are available with different levels of risk and exposure to a variety of markets worldwide.

Managed offshore funds :

A professionally managed portfolio of offshore fund investments where you choose which level of risk you wish to accept. These funds are designed to achieve long-term capital growth.

Insurance bonds :

are available from a range of assurance companies. These bonds are designed for tax efficiency and to allow investment into a choice of managed funds. They include an element of life cover and provide the opportunity to achieve long-term capital growth.

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