Living offshore can often provide expatriates with an exciting lifestyle and an enriched living experience. However, our long term standing within the offshore arena has taught us that the majority of our clients are less inclined to cater for the unforeseen circumstances that will inevitably affect their lives from time to time. Ensuring that you have sufficient capital set aside for such events is a vital component of the financial planning process sitting in tandem with pension planning and other more common financial needs. Indeed, the events of 2008 and the economic woes it brought have heightened the need to plan adequately for our families’ futures. Once we add the ever present nemesis of ongoing inflation into the equation then saving now for the future becomes even more prescient.
As an expatriate you are in a unique position in that you are able to utilise offshore jurisdictions that provide you with the ability to reduce or often eliminate any tax on your savings. These jurisdictions also provide enhanced confidence through the high levels of capital protection they implement, particularly pertinent in an environment where even major banks continue to show signs of weakness.
