| |
| |
|
Wealth Building Information |
|
|
|
7 Wonders of the Offshore World
Many people assume that the offshore world is accessible only to the super rich looking to increase their wealth, or to large multi national corporations looking to escape taxation. But the truth of the matter is that the offshore world is accessible to everyone! Placing money or assets offshore is a legal and often worthwhile undertaking and it is something that anyone living in, for example, the UK, Europe, Canada, Australia or America can do easily and with potentially great effect. Before I continue it is imperative to point out that the suitability of entering the offshore world for saving, banking, asset protection or any other reason can only be determined on a case by case basis. While 'going offshore' might be the most effective way for one person to operate, it might be totally unsuitable for the next person because of their personal circumstances. It is essential that anyone considering going offshore seeks the advice of a professional financial adviser. This article does not constitute advice. The potential benefits of saving money offshore, investing offshore or placing assets offshore are manifold, here are just 7 ways that you might be able to take advantage of all that's on offer? 1) If you're an expatriate living, working and paying taxes overseas, chances are you can secure your savings in a low to no tax offshore jurisdiction where they will grow tax free. Without the burden of taxation, savings will benefit from compound growth. 2) By placing money or assets offshore an individual can potentially protect their financial assets from domestic personal or business litigation. 3) The offshore world sometimes offers individuals a way to reduce or negate inheritance/death/estate tax that will become liable to be paid on their estate in the future. Certain offshore structures such as trusts can sometimes help in the struggle to legally avoid death duty. 4) Many offshore jurisdictions offer greater levels of personal privacy and also security which means a person's private or business transactions are dealt with confidentially and securely. 5) As offshore jurisdictions are less restricted by reporting requirements etc., people with a high risk tolerance who invest offshore often have access to more exciting and potentially better potential returning investment vehicles. 6) Domestic savings and investment policies are restrictive for some people; by investing offshore these people have access to the global investment market place which opens up many more opportunities to them. 7) Some offshore savings vehicles pay higher levels of interest than an individual could gain domestically. Because the offshore world is so flexible and open and offers such a wealth of diverse opportunity for saving, investing and protecting isn't it time you seriously examined the options available to you? Rhiannon Williamson is the publisher of ShelterOffshore.com - the online resource for offshore, expatriate and international investors. For personalized investment and offshore advice, readers of Shelter Offshore benefit from the site's strategic alliance with deVere and Partners, the world's largest offshore financial advisory. Visit the deVere and Partners offshore advice service page to find out more.
MORE RESOURCES:
Wealth-Building - Google News |
|
|
|
RELATED ARTICLES
If You Know These 5 Wealth Secrets Then You Are Probably Already A Millionaire Wealth Secret 1 - Decide Your Outcome Right Now.Unless you are incredibly lucky you will not be successful straight away. Learn How to Bank Like a Banker The business of banking has changed dramatically over the last decade. Because the cost of doing business the old-fashioned way is no longer effective, banks are interested in changing their customers' behavior by encouraging electronic banking alternatives whenever possible. Dont Leave Your Financial Success To Chance Recently I was reading a book called The Millionaire Mind. The book offers an intriguing look into the minds of those that have attained over one million dollars in net worth (there's far more to it then this, but I won't get that in depth for the purposes of this commentary). The Morphing of Thought and Cash Here are some thoughts about the morphing of thought and cash. What do I mean by morphing? I mean the transformation of something from one form to another. The Making Money Obsession - Discover The Real Truth In most societies, we are raised to believe in the myth that "it's spiritual to be poor". Or we use such phrases as "filthy rich", or "Money is the root of all evil". How to Grow Your Very Own Money Tree Okay. So money doesn't really grow on trees. Does the Moon Have Covers? Recently, one late winter night, my four-year old son and I counted stars with one another. After a few minutes, he pointed to the bright moon and asked, "Why doesn't the moon have covers?""Covers? What do you mean?" I inquired. Building Blocks of a Financial Foundation You can't build a house from the roof down, and you can't build a financial fortune from the roof down either. You have to build a foundation first. Your Wealth Cycle Foundation The four main steps in building a wealth cycle foundation are:· Pay yourself first · Understand the legal entities available to you and the tax implications of each · Determine whether to be an active or passive investor and using the appropriate strategies · Develop and commit to your money rulesPAYING YOURSELF FIRSTPaying yourself first is a money rule. Can you imagine how much you would be worth if, from an early age, you had been conditioned to pay yourself first by depositing a portion of your earnings in a wealth account? Even if you only put in $1 per week, today you would probably be sitting pretty. Principles to Ensure a Fantastic Financial Finish Most people want to get to the end of their lives and be able to live comfortably, take care of themselves and leave something for their children. These are admirable goals and very achievable - especially if you have a good plan! While I am not giving specific financial advice, these are the principles I live by and believe can bring anyone to a fantastic financial finish! As always, check with a financial consultant before taking action. My Ambitious Niche - A Completely NEW Way To Find Ambitious Wealth Turn to the year 1999, a couple of friends sitting on a deck drinking beer and having a few laughs. The intelligent looking one (ME) sips a bud as he looks over to where his wife is, over through the window in the kitchen. The Mathematical Formula For Making Money No matter what markets you serve; what products you sell; or what marketing tools you use, in business there's one truth you cannot escape.Embrace this truth and profits will flood your business. Tax Strategy - Theres More to Building Wealth than Clipping Coupons We talked recently about the wealth formula:Spend less than you earn and save the difference. Initially, you may have to cut back to "find" the money to save. Prosperity An ellipsis to your success is hidden in the word prosperity. Take a letter; make a word; assign a meaning, discover a pathway to your prosperity. Money Mastery Money can be your servant or it can be your master. The choice is yours to make. Real Estate Stories that Show You How! Let's begin easing you out of the pits. I mean, comfort zone! I'm going to slowly and methodically give you as many little sparks and insights to the relatively simple ways that ordinary people use real estate to achieve extraordinary results. Financial Planning For Singles Financial planning often gets a bad rap. Part of the problem is self-inflicted, since some industry participants would rather sell you a product than address your financial concerns. Create Tax Savings And Transfer Wealth To Your Child With A Roth IRA Parents must give serious thought to protecting their family through estate tax planning. While life insurance and trusts should be a part of every plan, Roth IRAs can be a simple tool for passing money to your child on a tax-free basis. Building Wealth: Its An Inside Job - Part 2 Let's quickly review the principles discussed in the first part of building wealth. We established that prosperity consciousness must first be developed mentally to acquire any real wealth. Turbocharged Financial Planning Financial planning is an ongoing process individuals and businesses should implement by organizing all aspects of their finances. This will assist in identifying financial goals, providing a comprehensive written Financial Plan, and implementing the plan in accordance with the objectives that are most important to you.
|
| home | site map |
| © 2006 |