The importance of having an offshore bank account in the UAE
As an expat in /location/ you are probably familiar with Sharia Law, but do you know what this could mean for your family’s security should the worst happen?
The famous legal maxim “Give that which is yours while it is yours; after death it is not yours" is quite apt as should the worst happen, your bank account and assets could be frozen and it can be months before your partner can access your shared wealth, at a time when they need it most.
Unfortunately, simply having a joint bank account isn't enough to prevent this from happening either.
Protect your loved ones when they need it most, download our free e-guide to discover:
- How Sharia law can affect your finances should the worst happen
- Why having a will alone isn't enough
- Ways to protect and grow your wealth
- How you can safeguard your assets whilst working in //location//
Once reserved for the uber-wealthy, an offshore bank account is viewed by many expats in location as a necessity to provide security and peace of mind.
What is an offshore bank account?
Put simply, it's the name given to a bank account in a different jurisdiction to where you currently reside. With offshore banking comes a much greater choice and options allowing you to select an account in a location that suits your individual needs whilst having access to a range of interest rates, incentives and something about security.
Benefits of offsore banking can include:
- 24/7 access to your money
- Convenience should your life take you to further destinations
- Improved tax efficency
- Greater investment flexibility
Guardian Wealth Management use UK Crown Dependencies or territories with similar protection and the same transparent regulations. This allows us to offer tax efficient investments and savings with high levels of investor protection which gives peace of mind to our clients.