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Expat Investor : September 2007
encompass accounts denominated in US dollars and euros. The Platinum range of notice accounts offers rates of interest which track UK base rate, US Federal Funds rate and European Central Bank rates respectively. Interest is paid annually and, says the Bank, clients can choose from four options available to suit their preferred notice period, these being 32, 60, 90 or 180 days. The account is available to both personal and corporate investors, with a minimum deposit of £25,000, US$50,000 and 50,000. Additional deposits can be made at any time and statements are issued on a quarterly basis. At the launch of these new developments, Aidan Doherty, managing director, told Expat Investor, "Our new Platinum Offshore Notice Account range is geared towards the depositor who is looking to take advantage of a product where the interest rate payable will track market rates. "Clients who invest in the Platinum Offshore Account will benefit from very attractive interest rates, which are some of the most competitive in an extremely crowded marketplace." As well as being competitive in the offshore savings accounts market, Irish Permanent International (IPI) has also carved out a niche for itself providing expats with offshore mortgages -- and, in particular, buy- to-let mortgages which are designed to assist expatriates looking to purchase or re-mortgage investment properties in the UK. As IPI explains, "A buy-to-let mortgage can be a valuable product to assist applicants looking to retain or establish a property link to the UK. "While rises in UK property prices over recent years have offered attractive investment returns to property investors, this has also forced many people to consider remaining on the UK property ladder, rather than sell existing properties while moving abroad to work. "Similarly, other investors seek to purchase property on an investment basis and establish a link for longer- term financial planning reasons over and above any investment returns that might be sought." IPI goes on, "Buy-to-let mortgages offer applicants the opportunity to purchase property for investment and borrowers seek to use the rental income to service the mortgage repayments. "Returns over time are then utilised to provide longer term capital gains and an asset or income for the future." Irish Permanent International offers a variety of competitive buy- to-let mortgage products for expatriates with lending available up to 85% loan to value (LTV), subject to status, with rates available from bank base rate +0.49% to bank base rate +1.24% on its Tracker mortgages. "We also offer a variety of offshore deposit accounts with flexible terms to suit individual needs, with competitive rates available on instant access, notice and fixed currency deposit accounts from a starting balance of £/$/ 500," adds IPI. ISLE OF MAN September 2007 EXPAT INVESTOR 17 Financial Services Commission 77410 Alliance & Leicester International 77411 Anglo Irish Bank (IOM) 77412 Bank of Scotland International 77413 Bradford & Bingley International 77414 Britannia International 77415 Derbyshire Offshore 77416 Fairbairn Private Bank 77417 Irish Permanent International 77418 Kaupthing Singer & Friedlander (IOM) 77419 Nationwide International 77420 Standard Bank Offshore 77421 Zurich Bank International 77422 For more information just enter the above numbers on the Reader Reply Ser vice coupon on page 20 or visit www.expatinvestor.com FAST FACTS Measures of protection DEPOSITORS' COMPENSATION SCHEME The amount of compensation payable to each depositor is an amount equal to 75% of the eligible protected deposit liability, subject to a maximum compensation payment to any depositor of £15,000. Protection is extended to foreign currency as well as sterling deposits. POLICYHOLDERS' PROTECTION SCHEME In the event of a life assurance company being unable to meet is liabilities to its policyholders, up to Focus, our award-winning, innovative and cost-effective platform, is a fully integrated banking and investment service. Designed to make your life easier, Focus can save you time and money. To find out more about our first class wealth management services, call us on+44 (0) 1624 645000 or visit www.fairbairnpb.com Focus Have Focus. Achieve More. (EXINV) First class service from the best International Investment Platform Provider 2007 Winner Best International Private Bank Best International Investment Platform Provider 2006 Winner Best Offshore Bank Best Commitment to Service 2005 Winner Best Offshore Bank Best Offshore Bank Product (FOCUS) Best Internet Service 2004 Winner Best Offshore Bank 2003 Winner Best Offshore Bank Best Offshore Bank Product (FOCUS) 2002 Winner Best Offshore Bank Best Offshore Bank Product (FOCUS) 2001 Winner Best Offshore Banking Product Range distinctly different Fairbairn Private Bank is a registered trade name of Fairbairn Private Bank (IOM) Limited and Fairbairn Private Bank Limited. Fairbairn Private Bank (IOM) Limited is licensed by the Isle of Man Financial Supervision Commission for Banking and Investment Business and its principal place of business is in the Isle of Man. Fairbairn Private Bank Limited is regulated by the Jersey Financial Services Commission to carry on deposit-taking and investment business under the Banking Business (Jersey) Law 1991 and Financial Services (Jersey) Law 1998 respectively. Registered office: 28 New Street, St Helier, Jersey. Latest audited accounts are available on request. Fairbairn Private Bank (IOM) Limited and Fairbairn Private Bank Limited are not subject to the provisions of the UK Financial Services and Markets Act 2000. Accordingly investors entering into investment agreements wil not have the protections provided by the United Kingdom regulatory system, including the Financial Services Compensation Scheme. The advertisement has been approved for circulation in the United Kingdom by Old Mutual Asset Managers (UK) Limited, which is authorised and regualted by the Financial Services Authority in the UK. Registered address: Old Mutual, 2 Lambeth Hill, London, EC4P 4WR. Of all the international finance centres, the Isle of Man can boast the most extensive layers of depositor and investor compensation and protection. 90% of the liability to the protected policyholder will be met. The Isle of Man's scheme operates globally, providing protection to policyholders no matter where they reside. INVESTORS' PROTECTION SCHEME Compensation is paid to investors in authorised collective investment schemes if a manager or trustee of an authorised scheme is unable to satisfy clients in respect of a civil liability incurred by them in connection with their business. Compensation is paid on a pro rata Fast Facts 77014 basis up to a maximum pay-out of £48,000. FINANCIAL SERVICES OMBUDSMAN SCHEME The Island provides a free, independent dispute resolution service for customers worldwide who have a complaint against an Isle of Man financial firm, including the Island's banks, insurance companies and financial advisers. The scheme's adjudicator has the power to impose directors to remedy the position, and can make monetary awards of up to £100,000.
July August 2007