You may already be aware that Britain has a series of offshore financial centres of its own – these are Jersey, Guernsey and the Isle of Man. Physically located close to Great Britain, these centres are considered some of the most sophisticated, well-regulated and superior offshore jurisdictions in the world.
Offering financial security, personal and transactional confidentiality and tax efficiency within a well-regulated environment, means that Britain’s own offshore financial centres are widely used by qualifying individuals and companies resident both inside and outside the European Union. The three centres each specialise in certain specific financial fields – from fund management to insurance, from financial law to international estate planning for example – and the international banking and finance community generally respects the efforts that each island’s individual governing body makes towards regulating and supervising those who operate and practice within their boundaries.
If you’re an expatriate it could make significant financial sense for you to explore your personal options and opportunities available within the UK’s offshore financial centres of Jersey, Guernsey and the Isle of Man. Alternatively, if you’re an expatriate within the European Union and potentially affected by legislation such as the EU Savings Tax Directive, another jurisdiction closer to home might suit your needs – namely Dublin. Dublin is of course in the Republic of Ireland rather than the UK, but geographically and culturally it is incredibly close to Britain. But this jurisdiction has unique advantages that make it more appropriate than the UK offshore financial centres for some people. It is also an exceptionally well-regulated and respected jurisdiction, which is why it is worth considering depending on your personal circumstances.
Again, please remember that at Expat Money Guide we can help and guide you according to your own personal circumstances, and even put you in touch with recommended and recognised industry experts. Determining the best location and savings and investment path for your funds can be a daunting task – but you needn’t attempt the impossible and go it alone. This guide has been written under the guidance and expert supervision of industry experts – and they are also available to assist and advise you. If you have any questions or require specific advice, get in touch with us and we will assist you or put you in direct contact with an adviser who can help you. Simply email [email protected].