| Offshore Finance Guide |
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Isle of Man Offers a variety of financial products including Life assurance bonds, offshore bank accounts and funds. IOM’s reputation has been steadily improved by clever politics and attractive tax rates. This year, the jurisdiction gave a commitment to the Organisation for Economic Cooperation and Development to reform its tax practices (but structured the deal so that it faces no commercial threat). IOM has also introduced uniform domestic tax rates that are extremely attractive to international businesses. Jersey The biggest of the Channel Islands finance centres, it is a hive of Banking, fund management, portfolio management, Offshore trust and company formation, and Life assurance activity. With Banking licences granted only to companies within the world’s top 500, Jersey is more immune from bank collapses than many other offshore centres. Could be blacklisted by the Organisation for Economic Cooperation and Development, though. Offshore Finance Guide - Laundering Laundering Turning money earned from crime into legitimate assets. Common techniques include setting up a company and putting the ‘dirty’ money through its accounts. Expatriate investors should avoid centres that may launder ill-gotten gains because the centres could face punitive action from onshore governments. Life assurance An Insurance policy that pays out in the event of a policyholder’s death. Expatriates can pay for life cover either via a lump sum or through regular premiums, usually monthly. Isle of Man is a major life-assurance centre. Offshore Finance Guide - Luxembourg Luxembourg One of the most reputable onshore ‘offshore’ centres. Hosts many of the world’s largest fund groups and is currently number 5 in the world by measure of funds under management. Pretty good for a country with a population of only half a million. Managed currency fund This is a fund that has holdings in more than one currency and seeks growth by switching between them. Managed currency funds differ from money funds because money funds will take positions in one currency only. Medical expenses Insurance See Healthcare Money fund These funds operate by finding the market’s most suitable deposit accounts |
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