Many people assume that offshore world is accessible only to super rich looking to increase their wealth, or to large multi national corporations looking to escape taxation. But truth of matter is that offshore world is accessible to everyone!
Placing money or assets offshore is a legal and often worthwhile undertaking and it is something that anyone living in, for example, UK, Europe, Canada, Australia or America can do easily and with potentially great effect.
Before I continue it is imperative to point out that suitability of entering offshore world for saving, banking, asset protection or any other reason can only be determined on a case by case basis. While ‘going offshore’ might be most effective way for one person to operate, it might be totally unsuitable for next person because of their personal circumstances. It is essential that anyone considering going offshore seeks advice of a professional financial adviser. This article does not constitute advice.
The potential benefits of saving money offshore, investing offshore or placing assets offshore are manifold, here are just 7 ways that you might be able to take advantage of all that’s on offer…
1) If you’re an expatriate living, working and paying taxes overseas, chances are you can secure your savings in a low to no tax offshore jurisdiction where they will grow tax free. Without burden of taxation, savings will benefit from compound growth.