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 : January February 2008
guaranteed capital products, such as its Optimum Growth Bond series, which pay a return based on the performance of the stock market but without risking your investment capital. Such products have proved popular with expats. And if it's a mortgage you're looking for, whether for the family home or a buy-to-let investment, ISLE OF MAN January/February 2008 EXPAT INVESTOR 15 A tailored bank account from Standard Bank Offshore John Coyle, Managing Director, says, " At Standard Bank Offshore, we have designed a flexible range of bank accounts to hold your cash in any major currency. "As an expatriate, it's likely you will have a need for typical day-to- day banking, but you may also want to build up your savings while abroad and we have created a combination of accounts to meet both objectives. without notice or penalty in any given quarter. "Further withdrawals are permitted but 90 days notice has to be given. If notice is not provided, 90 days interest on the amount withdrawn is forfeited. "The account requires a minimum opening balance of £10,000, US$25,000 or 25,000 and is available as an online banking service. "An extra feature of the account is the optional ability to defer receiving interest until the time the account is closed, which can be helpful if an expatriate is planning to move to a more favourable tax jurisdiction. "For those that need to make regular transactions, we recommend that the Expatriate Savings Account is combined with the Optimum Account, a flexible interest bearing demand account, also available online, which has the optional benefit of a debit card. If the account is in sterling, it's also possible to have a personalised chequebook. "Interest is paid quarterly and an opening balance of only £3,000, US$5,000 or 5,000 is required to open the account." Continued on page 16 "Our Expatriate Savings Account pays a high interest savings rate but still permits one withdrawal of up to one quarter of the account balance, why not take a look at Irish Pe r manent International (IPI)? Here, the Bank explains why a UK buy-to-let mortgage might be useful if procured through Irish Per manent International. "Our buy-to-let mortgages are designed to assist expatriates looking to purchase or re-mortgage investment properties in the UK. 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. "For expatriates, investing in UK property can offer a degree of security for their capital and a way to retain a foothold in the UK. "Investing in property, like other for ms of investment carries risk, but, over time, property can often offer attractive returns on the initial investment. "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." IPI offers a variety of buy-to-let mortgage products for expatriates, with lending available up to 85% loan to value (LTV), subject to status, with competitive rates. IPI says its newly launched fixed fee term tracker loan features a low rate for the life of the loan of 0.99% above Bank base rate, a fixed fee of £1,295 and low early repayment charges. The minimum loan is £75,000 with a maximum loan of £750,000 per property. The Island's two well-known private banks are Kaupthing Singer & Friedlander (IOM) and Fairbairn Private Bank. Fairbairn Private Bank,a member of the Old Mutual Group, claims to operate a comprehensive private and personal banking operation on behalf of a wide range of clients. These include private individuals, small and large companies, trusts, governments and institutional investors. The Bank confirms that a full range of banking, investment, trust and corporate services can be accessed through its offices in the Isle of Man, Jersey and its representative office in South Africa. Fairbairn Private Bank offers its Focus account to expats. This banking and investment solution is available to clients with a minimum initial combination in cash and/or investments of £50,000, US$75,000 or 75,000, of which at least £5,000 (or currency equivalent) must be in cash. The Bank also offers practical solutions towards investment diversification. "As the investment world is increasingly viewed as a volatile and complex environment, the importance of diversifying your investments has never been more essential. A popular process used to achieve this is asset allocation, whereby a portfolio is split across a number of major asset classes, including: cash, bonds, property, equities and alternative investments (such as hedge funds or commodities, like gold or oil). In fact, research over the past thirty years has established that the determination of asset allocation is the main driver and contributor to overall investment gains." Fairbairn Private Bank has developed its Strategic Asset Allocation Service (SAAS) which can be denominated in either sterling or US dollars for a minimum of £100,000, or currency equivalent. The service targets a real return in excess of risk-free cash interest rates over a three to five year period. Investment is made in all the major asset classes and the asset allocation is actively managed to reflect changing market conditions. Costs are rigorously controlled to further enhance compound investor returns, using methods such as selecting low cost Exchange Traded Funds (ETFs) as opposed to expensive managed funds; particularly in developed markets where active management can rarely be justified. This strategy also means, in certain markets, there is a much higher certainty of achieving the benchmark return than by using managed funds. Kaupthing Singer & Friedlander (IOM) is busy promoting its online banking service to the global expat community. Aidan Doherty, Managing Director, explains, "If you had suggested ten years ago that clients of international private banks would conduct their business online -- and do so happily -- doubts would have been cast as to your sanity. But this is the position in which we find ourselves today and institutions VISIT www.expatinvestor.com Request more information Read updated news Links to advertisers Fast Facts -- WHEREVER YOU ARE IN THE WORLD