by clicking the arrows at the side of the page, or by using the toolbar.
by clicking anywhere on the page.
by dragging the page around when zoomed in.
by clicking anywhere on the page when zoomed in.
web sites or send emails by clicking on hyperlinks.
Email this page to a friend
Search this issue
Index - jump to page or section
Archive - view past issues
Expat Investor : September 2007
September 2007 EXPAT INVESTOR 9 PRACTICAL BANKING A.E.R. is the annual equivalent rate and illustrates what the interest rate would be if the interest was paid and added each year, rounded to two decimal places. Fixed term investment, no withdrawals permitted. Full terms and conditions are included in the product literature, available on request. Investment returns are paid gross. Your tax position will depend on your personal circumstances and you may wish to seek guidance from your tax adviser. It is the depositor's responsibility to declare all returns earned to the appropriate tax authority. This is not an invitation to make deposits in any jurisdiction to any person to whom it is unlawful to make such an invitation or offer in such jurisdiction. Calls may be monitored and/or recorded. Britannia International is a wholly owned subsidiary of Britannia Building Society. Registered in the Isle of Man No. 50583. Registered office: Britannia House, Athol Street, Douglas, Isle of Man IM99 1SD, British Isles. With paid up share capital and reserves of £42.9 million as at 31/12/2006. Copies of our most recently audited accounts are available on request. Deposits made with Britannia International are not covered by the Financial Services Compensation Scheme established under the UK Financial Services and Markets Act 2000. However, under Isle of Man legislation, eligible deposits made with an Isle of Man office of Britannia International are covered by the Isle of Man Depositors' Compensation Scheme contained in the Isle of Man Banking Business (Compensation of Depositors) Regulations 1991 (as amended). For your further protection Britannia Building Society has given a legally binding undertaking to discharge all liabilities of Britannia International should Britannia International be unable to do so whilst it remains a subsidiary of the Society. Complaints we cannot settle can be referred to the Financial Services Ombudsman Scheme for the Isle of Man. Britannia International is licensed by the Isle of Man Financial Supervision Commission for Banking and Investment Business. EXINV09/07 BEST OFFSHORE BANK GROUP BEST OFFSHORE STRUCTURED PRODUCT PROVIDER Tel +44 1624 681100 Fax +44 1624 681105 www.britanniainternational.com 3 ways to plan for Many Happy Returns There's cause to celebrate with Britannia International -- the 21st issue of our popular Optimum Growth Bond and a new 3 and 5 Year Guaranteed Capital Bond. These bonds offer highly attractive earning potential, letting you benefit from stock market performance with no risk to your capital. And with three available, you can now choose the potential return and length of investment term most suitable for you. Limited Issues -- close 4 October 2007 (unless fully subscribed earlier). Optimum Growth Bond Issue 21 offers a return of 165% of actual FTSE® 100 Index growth over 6 years, subject to final year averaging, but has the potential to mature early after 2 or 4 years so you can benefit from strong short-term growth. The Guaranteed Capital Bond Issue 5 offers up to 50% gross/8.45% A.E.R. potential return. The minimum investment is just £10,000 and you can receive an early investment bonus up to 0.40% depending on the date of your deposit. Invest with award winners Britannia International, a subsidiary of one of the UK's leading building societies, and you could have future reasons to celebrate too. Visit our website or call for further details. Moving from a family house surrounded by green fields to a small flat on the 43rd floor of a high-rise block overlooking the sea is about as dramatic a move as anyone could make. It's a change that Louise Curtis embraced when she swapped her Cheshire home in the UK for a new life in Hong Kong. Louise had worked for Lloyds TSB in the UK for 23 years when her husband, John, was headhunted for a job in Hong Kong back in October 2005. She immediately investigated her own options and quickly landed a post running the International Pe r sonal Banking service in Lloyds TSB's Hong Kong office. "The timing was perfect," she laughs. "If you read it in a book, you wouldn't believe it. From start to finish we had four weeks to move." A new way of life Letting out their UK house, the Curtises rented a flat in Hong Kong and threw themselves into their new jobs. John works for an insurance company, while Louise leads a team of four providing offshore banking to expats and British Chinese who like the structure and commitment of a British owned bank. Almost every aspect of their day-to-day existence has been transformed, Louise says, from the food they eat to the way they get around. "We loved our cars and used them a lot," she says. "But we sold them both when we moved because we would have had to pay so much import tax. But public transport here is so fantastic, we haven't missed driving at all." A free shuttle service whisks Louise to work every morning -- they live right in the centre of Hong Kong island, so the office is just 20 minutes away. She has found the working day much longer -- 9am to 8pm is typical -- but the Chinese are very sociable, going out together after work and never skipping a lunch break. "It's normal to eat out four or five nights a week," she says. "Living space is so limited that lots of people don't have large kitchens, so there is a real culture of eating out." It makes financial sense, too -- two bags of groceries can easily set you back £40. Any trepidation she had about the language barrier quickly evaporated. "I should be learning Mandarin or Cantonese, but the girls in my team speak fantastic English. When we go out together they explain the menu to me and order for me." The food is exciting and Louise enjoys trying different cuisines, but she admits to missing bacon sandwiches. In their free time, the couple love to travel. During their first year as expats they have visited 10 new destinations, including the Philippines and Bangkok. They have also made three trips back to the UK to see family and friends, which has meant Louise has not suffered too badly from homesickness. "We'd like to stay out here as long as they'll An expat banker's story Fast Facts 77007 After her first year in Hong Kong, Lloyds TSB Offshore's Louise Curtis takes stock of her new overseas lifestyle. have us. The quality of life is better and we are enjoying the 'work hard, play hard' ethos. We feel we are living an exciting and rewarding life and have to pinch ourselves to believe it's real." Louise's tips for new expats Don't get stressed about changes; instead, regard them as an adventure. "Of course it's never going to be the same as the UK, but that's why we wanted to do it," says Louise. Be willing to adapt your working style -- management techniques that work well at home don't necessarily translate to other cultures. "I find I have become much more aware of my management style and the effect it has on others." Don't forget to explore what's on your doorstep as well as venturing further afield. "There are loads of places close at hand that we haven't yet been to." The International Account from Lloyds TSB Offshore International Account features Choice of accounts in sterling, US dollar and euro. Debit cards available in all 3. Sterling cheque book. Competitive interest rates. 24/7 Internet banking and PhoneBank service. Dedicated and experienced relationship management team. Advisors based in our offices around the world on hand to help clients. Interest is paid without deduction of tax. Makes moving your money easy through telegraphic transfers, international drafts, direct debits, standing orders and more. International Account benefits Introduction to a reputable international tax expert who can provide specialist advice. Will writing service. American Express® charge cards. Fr ee Sentinel® International card protection. Discounted Priority Pass membership. Lifestyle Service. Help with local banking Discounted worldwide travel insurance. Discounted international private health insurance. Quarterly Shoreline magazine. Fr ee country guides. Louise enjoying Hong Kong life with her husband, John.
July August 2007