Offshore investments used to be associated with only the wealthy but this this is no longer the case. Many more individuals both UK residents and those living overseas are able to consider this investment option.
Investing offshore via insurance based products, principally Investment Bonds can offer many advantages:
Investment Flexibility
Investments can be spread across a wide range of funds and asset classes, often Offshore Investment Bonds offer a wider range of funds than can be accessed by their Onshore counterparts.
Convenience
The provider will keep track of the funds held within the investment and produce consolidated valuations. It is also possible to switch funds within the investment as your requirements change.
Tax Benefits
Offshore investments benefit from a more advantageous tax regime, meaning that funds accumulate gross which can potentially lead to greater overall returns. It should be noted though that when money is taken out the tax implications vary from country to country, we will of course be able to provide you with advice on the relevant laws that apply.
There are disadvantages to Offshore Investments, for example the charges are often higher than if an investment were to be made onshore and the taxation situation is certainly more complex. It is, therefore, vital to discuss your own individual situation and also your future plans in some detail to ascertain whether this type of investment is suitable for you.
