Survey/ offshore funds: It's not just for the rich and criminals, ordinary savers can prosper as well
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Your support makes all the difference.Investing offshore is usually seen as being something only for the very rich, expatriates who work and live abroad, people wanting to hide their funds from the tax man or for crooks wanting to launder their loot.
This is misguided. The name of the offshore investment game has changed. As with most financial products, it is now mostly about tax planning rather than tax dodging. There are still tax havens where anything goes. Ordinary UK investors use them at their peril.
Rather, by using the offshore offices of well-known names, usually based in centres such as Dublin, the Channel Islands, the Isle of Man and Luxembourg, you can accumulate funds in a tax-efficient way. Whether looking at retirement, mitigating the effects of inheritance tax, building a nest egg to pay for school fees or an income for a child that will be going to university, offshore investments offer the ability to defer tax.
It is this that makes them an attractive means of saving, not just for the rich but also for the ordinary investor.
This survey guides you through the maze of putting funds safely overseas and highlights some typical products. The aim is to give a few ideas of what can be done with your money. We look not only at the regulations and taxation effects of investing offshore but also at the types of investment and the fund managers involved. Before you make a final decision, be prepared to carry out your own research. Most importantly, talk to an expert in this area. Offshore investment is not fantastically difficult. It is not for novices either.
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