Offshore savings plans offer a flexible way for
expatriates to save money for their children's
education costs, retirement and other future
obligations because of the following features.
The
plans move with you
Offshore savings plans go with you wherever you
choose to live, work, and allow you to continue
to contribute to your plan so your pension
planning does not need to stop.
Multi purpose
You can use offshore savings plans to save for
more than one reason for example you could
combine your pension and children’s education
savings.
Contribution flexibility
Offshore savings plans provide the flexibility
to take contribution holidays or reduce premiums
subject to the terms and conditions and allow
you to increase your premiums and add lump sums.
You can make monthly, quarterly, six monthly or
annual contributions by bank standing order,
visa and master card.
Investment flexibility
Offshore savings plans offer a wide range of
funds and provide the freedom to easily switch
between funds giving you the ability to tailor
your fund selection to suit your ongoing savings
requirements and attitude to risk. The
investment flexibility also enables you as you
near your chosen retirement date to switch to
low risk fund options to preserve gains.
Withdrawals
Offshore savings plans allow you to make partial
withdraws and withdraw the full amount as a lump
sum when you retire.
Security
Offshore savings plans provide a high level of
client protection and confidentiality because
there established in highly regulated offshore
centres.
Tax
Offshore savings plan funds enjoy tax-free
growth. The plans add investment growth to your
plan without deduction of tax (with some
exceptions in jurisdictions where withholding
taxes imposed on dividends are not recoverable).
You will also receive the proceeds of your plan,
or any partial withdrawals, without the
deduction of tax by the offshore company.
