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You may
have heard the term "offshore" in relation to investments or
some sort of insurance – but what exactly does offshore mean? First of all
it could be any type of investment, such as a bank account
or a collective investment, or insurance product.
There is
however
no definitive definition of the term “offshore” but it is
generally accepted to mean one of a number of locations
which are major financial centres such
as:
-
Isle of Man
-
Guernsey
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Jersey
-
Dublin
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Bahamas
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Bermuda
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Gibraltar
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Luxembourg
-
British Virgin Islands
There are
in fact a number of other countries and territories which
are well known as offshore financial centres.
Offshore
investments and protection – the advantages
-
Most
are low, or no tax charged environments
-
Able to
offer different types of investments and insurance
-
Offer
confidentiality
Not all
offshore centres are the same
Some
offshore financial centres have limited regulation and
financial security, whilst others offer financial protection
which is as good, and sometimes better than the world’s main
financial centres.
Economic and
political stability is another issue to consider when
considering which company to use if you’re thinking of
investing offshore. Only consider using a specialist offshore independent
financial adviser and ensure it only uses companies based
in economically and politically stable offshore centres such
as Guernsey, Isle of Man, Jersey, Gibraltar etc.
Many
offshore investment and insurance companies are subsidiaries
of large financial institutions, although they are run as a
separate business, so your information remains
confidential, but secure. The parent company will of course
have its reputation to protect too.
Here are
some examples of offshore companies and the location where
they are based which are ultimately owned by large
international financial institutions. There are in fact 100s
of similar companies.
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Barclays Bank International |
Isle of Man |
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Canada Life International |
Isle of Man |
|
Cater Allen |
Jersey |
|
Friends Provident International |
Isle of Man |
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Generali International |
Guernsey |
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HSBC Bank International |
Isle of Man |
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Lloyds TSB Offshore |
Isle of Man |
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Royal Skandia |
Isle of Man |
|
Scottish Life International |
Isle of Man |
| SFM Fund
Managers |
Luxembourg |
|
Zurich International |
Isle of Man |
So if
you’re an expatriate, and want to know more about offshore
products or want to speak to an offshore
independent financial advisers,
then
contact us - free
and without obligation on +357 99 159 857 or
contact
us online.
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