Go Back   Internet Business Forums > Money & accounts

Reply
 
Thread Tools Search this Thread Display Modes
Old 09-12-2008, 06:49 PM   #1
DJB
Junior Member
 
DJB's Avatar
 
Join Date: Nov 2008
Location: Around
Posts: 16
Default offshore investing?

Hi guys,

As some of you might know am I currently working on a private megayacht owned by an saudi arabian prince. I have been doing this for a year soon to get rid of some ridiculous high school dept and to travel and save up some money.

If I stick to my savings plan will I end up with 15.000 euros around April/May 2009, which all are money I would like to invest for the next 5-10 years.

I have been thinking a lot about offshore investing due to some tax reasons but I am not too sure about it - anybody who has any experience in handing over your savings to an offshore investing company or is it simply just too dodgy?
DJB is offline   Reply With Quote
Old 10-12-2008, 12:01 PM   #2
frauke
Member
 
Join Date: Aug 2007
Location: Hampshire
Posts: 64
Default Re: offshore investing?

I know quite a few people who have used HSBC in Hong Kong, but the amount of money you have is too small.

Once I would have said go to your Bank is see what they have on offer. Even now its not a bad idea, except make sure it stays in cash and that you understand exactly what they are doing. You need to make sure what ever they recommend comes with lots of guarentees and back up!

I have a number of clients who I have suggested to shop arroung for a Cash ISA, go to the Bank and end up with a equity based ISA, which has been completely unsuitable, because they didn't understand there was a risk involved with a equity based investment - whereas the Cash ISA is risk free.
frauke is offline   Reply With Quote
Old 10-12-2008, 03:01 PM   #3
Brian Turner
Business Guru
 
Brian Turner's Avatar
 
Join Date: Dec 2003
Location: Near Inverness, Highlands, Scotland
Posts: 7,951
Default Re: offshore investing?

Do be aware that offshore investments are not covered under the government's savings protection scheme - so if you invest with a company that goes bust, they take your savings with them - as some investors in Landsbanki Guernsey found out.
Brian Turner is offline   Reply With Quote
Old 18-12-2008, 12:59 PM   #4
frauke
Member
 
Join Date: Aug 2007
Location: Hampshire
Posts: 64
Default Re: offshore investing?

If you are travelling so living overseas, and have no income other than from interest in the UK, you can register to have the interest paid Gross on money on deposit in the UK.

As long as the interest you receive is below your Personal Allowances (which you are still entitled to as a British passport holder living abroad) you will not have any tax liability.

So unless the interest you will earn is over your personal allowances - there is no reason to keep the money "offshore".
frauke is offline   Reply With Quote
Old 04-08-2011, 07:20 AM   #5
offshorecompanyformation
Offshore Company Form
 
offshorecompanyformation's Avatar
 
Join Date: Aug 2011
Location: London
Posts: 3
Default Re: offshore investing?

Luxemburg also is good offshore jurisdiction
offshorecompanyformation is offline   Reply With Quote
Old 30-08-2011, 11:07 AM   #6
inthebox
Junior Member
 
inthebox's Avatar
 
Join Date: Aug 2011
Location: London
Posts: 1
Default Re: offshore investing?

No idea about offshore company...
inthebox is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT +1. The time now is 03:45 AM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2018, Jelsoft Enterprises Ltd.

All times are GMT +1. The time now is 03:45 AM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2018, Jelsoft Enterprises Ltd.