Advisors Worldwide

There is a common misconception that offshore wealth management is a tool used only by the wealthy to avoid taxes. Although there certainly are individuals and corporations that structure their wealth in a way that minimises taxes, we are now starting to see more and more average wage earners look to the offshore sector. Offshore finance can sound like an array of loopholes and regulations, but in truth an individual can arrange an offshore platform for his wealth using little more than a carefully selected bank account or credit card that opens up access to international markets.

The majority of financial news reported these days tends to focus on stocks and shares and quite frequently overlooks the importance of offshore finance as a cornerstone of the economy. It is a multi-billion dollar industry and its influence is apparent in every major financial institution all over the world. Companies that specialise in anything from tax planning to trust funds all have major offices located in an offshore jurisdiction such as the Isle of Man or Switzerland.

Offshore finance could be defined as a number of strategies designed to cover all aspects of one's personal wealth that occur outside your home country or country of employment in a low tax jurisdiction. Most people who live abroad are able to benefit from clauses such as lower taxes or less charges using offshore products but they are simply not aware of the variety of advantages that are available. There are many reasons to explore the world of offshore finance, but let us list some of the most common areas where people benefit:

Confidentiality:In many jurisdictions it is difficult to get any privacy when it comes to your financial affairs. A majority of onshore financial institutions are required by law to divulge your personal information to governmental bodies. Many offshore environments do not have these reporting requirements, ensuring that your accounts receive the highest level of client confidentiality available.

Beneficial Tax Laws:It is possible to store your wealth in a jurisdiction with minimal or no tax legislation. There are a number of different countries that offer this tax exemption, for example the Isle of Man which holds a AAA rating is generally considered to offer the best level of consumer protection and returns. Because the tax you are paying is minimal or in some cases non- existent it allows your investments and holdings to garner far greater returns than it would in a conventional tax environment.

Protection of Assets:Offshore jurisdictions offer world class investor protection which is a vital cornerstone of any individual's wealth management. Because no one can predict the future we emphasise asset protection as a necessity for anyone's portfolio. As we have seen recently with a number of financial institutions failing, simply putting your money in the bank is no longer a guarantee that it will be safe in the future. T he islands of Jersey, Guernsey and the Isle of Man offer the best level of protection in the world, guaranteeing policy holders up to 90% of their investment value in the event of the financial company not meeting its obligations. These isles also offer a priority system which prevents the 'investor compensation scheme' proceeds from being used fund creditors should the financial institution fail.

Estate Planning:Offshore jurisdictions also work favourably for persons who have invested in property. Many offshore tax centres offer incentives for homeowners and can make the whole estate planning process less complicated and more beneficial.

International Market Access:Having access to international, rather than regional markets, gives people a greater choice and better opportunities on all sorts of different investment vehicles and funds.

In summary, there are numerous advantages for expatriates and international investors alike to turn their attention to the offshore sector. These include:

• A wider range of funds and products to choose from
• Higher confidentiality
• Dedicated personal service
• Risk solutions
• Custom strategies
• In depth financial analysis

At Advisers World Wide, many people we have assisted and nurtured through their finances were simply not aware of how drastically improved their finances can be by looking offshore. Our aim is to offer a tailor made personal service that suits you, whereas onshore more often than not looks to suit your demographic. We will take the time to sit down with you, hear your goals and ambitions and offer a steady hand to advise and guide you through the pros and cons of your financial aspirations.