There are two primary ways that individuals can monitor and control their financial assets. The first option is to manage everything independently, a task that can take hours each week, particularly if you want to study international markets and invest in a wide range of industries and nations to minimize risk.
The other option is offshore asset management, where a financial expert manages your assets and makes the best choices for the protection and growth of your assets according to your preferred risk level.
While there are countless benefits to offshore asset management, the following are the top five.
1. Keeping Assets Offshore May Reduce Your Tax Liability
A definite advantage of having your assets managed and stored offshore is that your tax liability can be potentially reduced.
Offshore assets may not be subject to the same tax rates as those in your country of residence, and many jurisdictions won’t have any capital gains taxes for foreign investors. This translates to less money going out each year and more profits to be reinvested into your portfolio.
2. You Can Free up Time and Know Your Assets are Still Growing
If you have unlimited time to monitor your assets, as well as a strong and current knowledge of international markets, finance, global industry and currency exchange, then you may not require offshore asset management. For the rest of us, however, having a financial expert guiding every move means more free time in the schedule and less worrying about the state of a portfolio or the particular trading price of stocks at any given time.
3. You’ll Gain Peace of Mind About Earmarked Funds
A big concern for many individual investors is that they won’t have access to their assets when they are needed most. When you opt to work with an offshore asset manager, you can state exactly what your concerns might be.
Offshore asset management can allow you to enjoy peace of mind that you’ll have enough money to enjoy a comfortable retirement, pay for your children’s education or earmark money to go into a trust for your loved ones in the future.
4. You Can Explore Lesser-Known Investment Opportunities
Offshore asset management provides a way for everyday investors to access new, promising and lesser-known investment opportunities. A man from Delaware, for instance, may not be aware of commercial real estate in Belize, vacation properties in Panama or venture capitalism in India.
Financial experts who manage offshore assets, on the other hand, make it a priority to know as much as possible about the potential financial opportunities that could benefit their clients and boost profits.
5. You’ll Geographically Diversify Your Holdings
Diversification is always important, but it is becoming an increasing priority for investors who are wary of things like major political changes, currency devaluations and lending bubbles.
By choosing offshore asset management, you’ll be mitigating risk by having assets in more than one country and tied to more than one currency. This reduced vulnerability in a major way, which is always a good thing.
These five benefits highlight just how much offshore asset management can improve your life as well as your finances.