Offshore investment offers a range of equities, funds, commodities and currencies to expats which often come with attractive tax incentives. The investment opportunities available will depend on the place where an expat lives, as local laws and tax rules will make some investments more worthwhile than others. The vast array of products includes the Qualifying Recognised Overseas Pension Scheme (QROPS), investment bonds and direct investment into equities. Watch out for scams!
Expats are top targets for investment scams, which can range from freeing up pension cash to buying into dream holiday resorts. The general rule is non-regulated advisers selling investments with yields that seem too good to be true are probably fraudsters. Do not part with any cash or sign any contracts until you have run the proposition past a professional adviser.
Typical scams have warning words to watch out for, such as carbon credits, hotels and resort development, ethical investments, coloured diamonds and fine wines.
Fraudsters are good talkers but ask yourself why they have approached you, because it is likely to have been a chance meeting in a bar or a cold-call. Then ask why they are offering you the opportunity, because if it is so good they would keep the details private and take the profits.
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DISCLAIMER: This video is to show how we can help expats to SAVE their money or income. This is not a professional financial literacy.
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