With currency being an extremely hot topic at the moment (when is it not though) it might be a good time to look at how your money is being banked or invested. It no secret that having one hundred percent of your empire stashed in one place whether its property, shares, investments, a single currency or any other single place that can drop and leave you desolate in a moments notice is not wise. Diversifying your money is a way of making sure this doesn’t happen.
Diversifying allows you to spread your assets in different investment opportunities incase one sector goes bust. By allocating your money into different sections of an investment portfolio, you don’t have all your eggs in one basket, so to speak.
There are various ways of breaking up and distributing your money. Putting your money into an overseas account is helpful, easy and low-risk way to start diversifying your wealth. Here are a few reasons to think about putting your money into an overseas account.
With so many global opportunities its wise to have offshore accounts in countries you are wanting to invest in. Having a local account in the country you are doing business with makes investing less of a hassle and can come with a lot of benefits. Start up hubs like the EUA make an ideal place to set up an offshore account. Dubai-offshore can open offshore accounts in the EUA making it easy to invest your money in the country.
Having money offshore can have great tax benefits. Keeping a portion of your money out of the tax jurisdiction in your home country can drastically reduce your tax bracket. Many times off shore accounts will not charge you for capital gains or gains made in stocks or investments.
Exchange and Transferring money
Having the option of withdrawing and transferring money out of two account with different values is beneficial when needing to exchange funds or putting money in other accounts. The services are fast and typically free or very affordable.
Borrowing and Credit
Needing to find alternative mortgages or mortgage rates are a benefit of having an off shore account. Same goes for credit or lending services. Rates and interest can be much better than in your local account.
You’re money in offshore accounts will be available 24 hours 7 days a week. For many of these accounts, service is set up knowing that many foreigners have their money set up in their accounts. They add extra services in order to meet these clients needs.
Many times these accounts offer greater security, increased privacy and greater financial freedom. Security is taken vary seriously for these banks