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AisaDirect Ltd, an Independent Financial Adviser authorised and regulated by the Financial Services Authority in the UK only.
1/2 Fordbrook Business Centre, PEWSEY, Wiltshire, SN9 5NU Registered in England: 3621676
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This website contains information which may or may not be applicableto your own situation and circumstances.
Any information or advice on this site does not constitute a personal recommendation. If you have any doubts as to whether a product or service is suitable for you, please seek independent advice.
Offshore Advice
Offshore Trusts, companies and investments often scare people - it is a mixture of the unknown, perceived lack of security and increased risk as a result.
Three points:
- The United Kingdom is used successfully as both an onshore and an offshore tax haven to those mainly non-domiciled here (but some high net worth domiciles as well)
- Basic Financial Advisers are often limited to only providing Offshore Bonds (with or without a trust wrapper) which are usually very expensive (commission & intermediary charges) and off-putting for clients but there are other fee based possibilities.
- There are many countries (for example, Panama) in the world that provide suitable vehicles that are safe and transparent (to those you intend) that will work happily with the asset (for example, cash) being resident in another nation with that nations protection (for example, Isle of Man)
The reality is that wealthy people throughout the world take advantage of offshore companies and status, without fear of loss, because they have taken appropriate advice. For example, many Russians and Far East investors use the UK to shield and protect their own money. Is it not common sense that people in the UK do the same if they can afford to do so?
Many already do, with rock stars being the obvious example. So, how much money do you or your company need to be making, and how much protection are you seeking, in order to make this something worth considering.
General Point
If you meet a financial adviser they will invest as little as £50,000 into a bond offshore. We are unconvinced by this and see little benefit at this level. Really you need in excess of £150,000 spare investments and that is after you have taken full advice on the remainder of the portfolio. This £150,000 level applies equally to companies or private investors.