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Offshore Collectives

Investing in Offshore Collective Funds

Offshore investment vehicles include unit trusts, mutual funds or investment companies, and may be open or closed. The offshore company normally pays no tax on its income or gains. However, the income it receives may be subject to withholding tax, which the company will not be able to reclaim. For the policyholder, all gains are fully taxable at the time of encashment.

Risk & Reward

Offshore funds offer greater returns and often greater risks than onshore funds, however many countries restrict investment in such funds by their citizens, and also restrictions are placed on the marketing of offshore funds to their citizens. The UK's regime, whilst permissive, is still not very flexible. The laws and regulations of high-tax countries in respect of offshore funds are directed not just to limiting the behaviour of their citizens but also to preventing 'money-laundering' and other illicit uses of International Offshore Financial Centres (IOFCs).

Financial Conduct Authority Recognised Funds

These are funds which, although managed overseas, are permitted to market themselves directly to UK private investors. Having the 'Financial Conduct Authority Recognised' tag simply means that the UK authorities acknowledge the regulatory regime in the overseas territory is of a standard at least as 'good' as in the UK.

There may however still be higher risk funds which the Financial Conduct Authority doesn't recognise even though they are based in territories with 'good' regulatory regimes.

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OFFSHORE COLLECTIVES ARE COMPLEX INVESTMENTS AND ARE NOT SUITABLE FOR EVERYONE, YOU SHOULD SEEK FINANCIAL ADVICE BEFORE ENTERING INTO THIS TYPE OF INVESTMENT.

INFORMATION IS BASED ON OUR CURRENT UNDERSTANDING OF TAXATION LEGISLATION AND REGULATIONS. ANY LEVELS AND BASES OF, AND RELIEFS FROM TAXATION, ARE SUBJECT TO CHANGE.

THE VALUE OF INVESTMENTS AND THE INCOME FROM THEM MAY GO DOWN. YOU MAY NOT GET BACK THE ORIGINAL AMOUNT INVESTED.

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Pedr Financial Planning is an appointed representative of TenetConnect, which is authorised and regulated by the Financial Conduct Authority. TenetConnect is entered on the Financial Services Register (www.FCA.org.uk) under reference 149826. Registered office: 20 High Street, Lampeter, Ceredigion, Wales, SA48 7BG. Registered in England & Wales: 07048010.

 

The Financial Ombudsman Service is available to mediate individual complaints that clients and financial services businesses aren't able to resolve themselves. To contact the Financial Ombudsman Service please visit: http://www.financial-ombudsman.org.uk/contact/index.html

 

The guidance provided within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.

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