Particularly in uncertain times, you may be thinking about moving some of your wealth offshore. As well as being one of the best ways to diversify your investments, it’s a move that could offer lucrative rewards.
A brighter financial future for your family is a dream for many. You can achieve this by using an offshore asset management company. And you’ll also have more time to spend with your family, friends, and on your business ventures as well, which is priceless.
So if you’d like to become one of the 69% of Americans that retires before the age of 65 then read on to discover our tips for finding the best offshore asset management company for your needs.
1. Choose a Jurisdiction That’s Politically and Economically Stable
Keeping your risks low is an important factor when you’re considering moving your money to an offshore entity. You must ensure that you do due diligence on the country you’re planning on moving your money to.
There’s always a small chance of a change in politics that may put your assets at risk or an economic crash that could affect your money. But good research and preparation for your future tax plan puts you in the best possible position.
2. The Importance of Security – You for Assets and Your Information
Expanding your investments to an offshore asset management company requires trust in the company’s reputation.
You should feel assured that the bank you choose has a good liquidity plan for the short and long term.
Another sign of a reputable company is one that takes the privacy of its customers seriously. This is important for those wanting to protect the information of benefactors of a trust or to keep their financial dealings secure.
3. Find the Most Favorable Tax Rates
Moving your wealth and investments to an offshore asset management company can be very beneficial for your tax payments.
Depending on which jurisdiction you choose for your circumstances, you could pay little or no tax on your assets, compared to that of your country of residence.
By making this smart move to diversify your investments offshore, you can make impressive savings that will benefit your business interests. You’ll be able to expand and grow at a much faster rate.
4. Get Support for Your Growing Investments
The best offshore asset management companies will take a supportive interest in your investments and give you expert advice about expanding.
If you have real estate interests, for example, you can seek advice about new areas of investment, suitable enterprise asset management (EAM) software, or countries with the best tax rates for your type of investment.
5. Live and Work Outside of the Jurisdiction
It’s worth mentioning that for most offshore activities, you can’t live permanently, or conduct business in the same area as your offshore company.
Depending on your lifestyle and how you conduct your business, you’ll have to consider what country or countries you are a citizen of, where you are a resident, where you conduct your business, and where your customers are based.
6. Think About What You Want from Your Bank
Whether it’s the ease with which you can set up a company, the features included in the banking product, or a dedicated personal service, it’s important to consider what you want from your offshore asset management experience.
7. What Type of Offshore Structure Do You Want?
With several options available for offshore companies you could form as part of your diversified wealth and investments, you should spend some time researching which is right for you.
An International Business Company (IBC) is a great option for some people. It can be formed quickly and doesn’t require any business to be conducted within the jurisdiction of the company.
LLCs, ABCs, partnerships and hybrid companies are just some of the other options you have when forming a business offshore.
Take the Next Steps with an Offshore Asset Management Company
If you want to protect your assets, build a secure future for your family, diversify your investments and grow your wealth for the long term, then take the next steps to incorporate your business and manage your assets overseas.
Contact us today to find out how we can work together.