If you`re investing for the first time in an offshore account, it can be confusing. You must choose a reputable bank and handle the ins and outs of offshore accounting procedures. There are no first time investing procedures to follow. However, the following five simple steps will give you the information you need.
First, figure out how much you want to invest. If you can only invest $1,000, focus on the institutions that allow that minimum.
Next, which jurisdictions do you have access to? Keep in mind that the bank or institution must be authorized to deal with your particular country of residence. If jurisdictional issues prevent fund access, you may be required to use an appropriate structure; you can always use a mail redirection service as well to access to offshore investments without much problem.
Next, which specific fund do you want to invest in? To choose, search the Internet, read offshore investment guides and publications, or use an investment information provider.
Your research should focus on the fund's previous performance, its management and assets. Watch it for three to six months before you invest, and don't rush into anything.
Next, before you can invest, decide whether you want a broker or will do this yourself. If you choose a broker, you`ll next need to call the broker and have him or her make the needed arrangements. If you decide to do it yourself, request a current copy of the fund's prospectus and then begin the proper investment proceedings from there. To obtain a prospectus from the fund, fax a request for it. The following is a sample of how you might word it:
Dear XXXXXXXXX,
I am the investment administrator of a company domiciled in (insert tax haven here).
I would appreciate a current copy of your prospectus so that I may invest in your fund.
My mailing address is XXXXXXXXXXXXXXXXXXXX
Kind regards,XXXXXXXX
I have used this type of letter often. Even when I used an Australian postal address, the fund still sent the prospectus, even though they also sent a letter stating that they were not authorized to deal with Australian residents, and therefore could not take my investment. They did give their account details, though, for my information.
Finally, if you`ve met all criteria and want to go ahead with the investment, a bank draft is the easiest payment method. Just attach the check to the completed prospectus and send it to the fund.
When you set up the bank draft, if you use a bank with an international essence, you`ll likely raise fewer questions. You also cannot post the prospectus from a country that the fund is not authorized to deal with.
The above five steps should make your first offshore investment experience relatively easy and even fun. You should know that the fund may still deal with you even if all their criteria are not met, but following the steps above should be your easiest route to opening an offshore account.
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3 Major Reasons To Bank Offshore
One of the biggest decisions you may ever make is selecting a bank, so knowing all the facts is very important. Many people are choosing to open offshore accounts. Why does offshore banking seem to be so great? The 3Ps, or privacy, protection and profit are the three major reasons to consider investing offshore. We will look at them in this article.
15 Things You Should Know About Offshore Fund Managers
Do you know the person managing your money? If you don`t, you need to; knowing who is managing your fund is as important as knowing where your money is. It`s absolutely essential, and you should not hesitate to ask as many questions as you wish so that you`re sure you`re comfortable with where your money is being invested.
Who Else Wants Better Returns With An Offshore Account
National boundaries have usually not dissuaded investors who want to most effectively use their investment capital. In fact, those with expertise in offshore investing state that about 50% or a little more of your investment portfolio should be based in foreign markets. If you really want your money to work for you, you`ll eventually see that you need to invest in foreign markets to get above average returns.
