Countries all over the world offer amazing advantages to wealthy investors looking to grow their portfolio, take advantage of safer banking, save on taxes, or seek a better quality of life. When choosing a country in which to invest, wealthy individuals need to prioritize which advantages they care about the most.
While many of these offshore jurisdictions offer more than one advantage, some stand out in certain realms. For example, while Switzerland is great for many reasons, it especially stands out in the world of offshore banking.
In this article, we look at what makes just some popular offshore jurisdictions special. This does not take the place of thorough offshore guidance, so if you have any questions about taking your wealth offshore and which jurisdiction is right for you, contact the expert team of Alpen Partners below.
No country tops Switzerland when it comes to banking. Whether you are looking for security, investment opportunity, services, or another offshore banking advantage, Switzerland truly is the best.
When looking for an offshore bank, one should choose a country with a strong economy. Since we’ve already established that, we can now look into even more reasons why an account in Switzerland is one of the best offshore bank accounts.
Banks play an important role in the Swiss economy. Because of this, Swiss banking is also highly regarded around the world. They are well known for sophisticated and discreet banking services. In 2017, it was reported that $7.5 trillion in assets are held in Swiss banks, and almost 51% of that is generated from clients outside of the country. Choosing Switzerland as a banking destination is choosing years and years of financial stability and growth.
Privacy is a leading factor for those looking to bank offshore. With the same expectations as doctor/patient confidentiality, Swiss laws forbid bankers to disclose that someone even holds a bank account or any information about it without the consent of the account holder. If any of the information is divulged, laws require that immediate prosecution begins.
Holding a bank account in Switzerland is ideal for many because their home country is not as economically nor politically stable as the Swiss government. They are worried about the security of their domestically stored funds.
Investing in the United States gives wealthy investors, and their families access to topnotch schools, medical care, career industries, and more. For those looking to pursue the American Dream, the E2 visa can gain qualified investors easier access.
In 1986, The US and Grenada signed a bilateral investment treaty that allows a citizen of Grenada to apply for a Treaty Investor visa, also knows as the E-2 visa, based on an investment in a US business enterprise. The E-2 visa is based on an investment in an active US business enterprise.
Today the list of countries signed under the Treaty of Trade and Commerce has expanded, and the E-2 visa can be utilized by foreign entrepreneurs to enter and work in the US based on a substantial investment.
E-2 visa holders can work legally in the company in which the funds are invested to earn the residency, travel in and out of the US freely, live within the country as long as they maintain E-2 qualifications, and bring along dependents under 21, relatives, and spouse. Spouses can also work, and dependents can attend locals schools, colleges, and universities without having to apply for an additional visa.
Some countries grant wealthy investors the opportunity to save on taxes. Take the flat tax legislation introduced by the Greek government this year.
Seeking to create growth since July of 2019, the Greek government revealed in November 2019 a new tax law that will allow qualified wealthy investors to pay a flat tax rate of €100,000, or $110,000. These qualified investors must be willing to change their country of residence.
Investors who want to take advantage of this appealing program will need to live in the country for at least 183 days every year while investing €500,000 in the national economy over their first three years of residents. The initial plan says the program will run for fifteen years.
As you may know, many countries offer residency through certain investments, such as the E2 visa above. Portugal grants investors who want easy European residency to achieve it through a real estate purchase. With a relatively low pricepoint, wealthy investors can get a lot of bang for their buck.
The Golden Visa program in Portugal is the most popular route to citizenship in Europe. This visa offers investors flexibility and benefits. The program, launched in 2012, grants residency to those who invest €500,000 in Portuguese real estate. The residency is also extended to family members, including spouses and dependent children. The visa needs to be renewed every two years and only requires holders to stay in the country for two weeks every two years.
There aren’t many requirements for the program. First, you must keep the investment during the term of your residency. Second, the money that you are placing into the investment needs to come from a source outside of Portugal.
Panama is a beautiful country with a very low cost of living. It is also very easy to make real estate investments.
Foreign buyers have the same rights as a Panamanian when it comes to purchasing property, ensuring safety and ease. Investors often use their real estate purchase as a second home for vacations or retirement.
There are many different kinds of options for real estate investors in the country, and residency is easy to obtain. Panama also has one of the fastest-growing economies in the Western Hemisphere. Whether you are looking for returns or a new retirement home, Panama is a good choice.
Don’t know which country to choose? That’s okay! The right fit may not even be on this list! If you are a wealthy investor looking to expand your portfolio with an offshore investment. Contact the expert team of Alpen Partners today. With partners all over the globe and years of experience, our team can find the right offshore fit for you.
Not only will we help determine your perfect country, but we will also help create and implement a hands-on plan and be there every step of the way.
No matter the problem, Alpen Partners will handcraft a solution for you. We know that there is no one-size-fits-all when it comes to financial success. Our approach involves working with our clients to make a unique plan to meet their needs. Rest assured that we will work hard to guide you through the process of meeting your financial and personal goals.
Contact us to enhance your financial plan today.