| While you might presume anyone with 'money in | | | | |
| offshore accounts' is involved in some | | | | Money funds are a high risk form of investing |
| scurrilous business affairs, the truth is | | | | - your funds will be pooled with those of |
| that anyone can use this form of investment | | | | other investors' and used to buy |
| as a totally legitimate way to defer or | | | | international currency at wholesale rates. |
| reduce your tax payments. | | | | Your shares will be exposed to the vagaries |
| | | | of international exchange rates, and this can |
| Locations for offshore accounts can be held | | | | be a nerve-wrackingly unpredictable way to |
| in banks in British waters - the Channel | | | | invest abroad. |
| Islands or Isle of Man for example, or you | | | | |
| could look further afield to the Republic of | | | | More and more people are choosing to buy |
| Ireland or Luxembourg. As with other | | | | property abroad - whether as future dream |
| investments, there are different ways to send | | | | retirement home or as profit making venture. |
| your money abroad, with different levels of | | | | In Eastern Europe and the Middle East you can |
| risk attached. | | | | pick up property for remarkably low prices - |
| | | | developments and agencies advertise in the |
| Some of the benefits include current accounts | | | | property sections of newspapers, and websites |
| with higher levels of interest - check out | | | | abound. While this could prove a sound |
| the high street banks, many of which offer | | | | long-term way of investing, there are |
| offshore instant access accounts. These are a | | | | numerous things to take into account - the |
| relatively safe way to invest. There are also | | | | stability of a country's economy, complicated |
| 'notice' savings accounts which can yield | | | | legal agreements and the cost of travel to |
| exceptionally high rates of interest. | | | | and from the property are major factors. |
| | | | |
| You may choose to put money into an offshore | | | | Different countries operate wildly different |
| investment fund, which is similar to the | | | | property law, and you will need to get sound |
| normal onshore type, only you usually find | | | | advice on all the implications before buying |
| that you pay a performance related fee to | | | | abroad. Check things like inheritance law - |
| your fund manager. This could mean that they | | | | for example, in France, there are obstacles |
| have more incentive to make sure your money | | | | to simply leaving property to named |
| is working hard for you. Check investment | | | | recipients in your will. If you do buy |
| companies like Schroders and Gartmore for | | | | abroad, you will probably find it useful to |
| this type of fund. | | | | open a multi-currency account. |