Many ex-pats enjoy the financial benefits of working in
tax-friendly countries overseas. But sadly, many have
also found out the hard way what can go wrong too.
- Regulation for offshore-based financial advisers is either poor
or non-existent – in most cases
- They don’t even need to have a proper qualification to offer advice
- They are still paid on a commission-based model (now illegal in the UK)
– but while you pay for it, they do not need to disclose how much you’re paying
- Lack of clarity on costs with hidden high charges and fees
- No financial ombudsman to go to seek redress if things go wrong
Taking that all into account, you can see why many unsuspecting investors have
ended up being mis-sold to or losing money. Ask yourself ‘what if?’ and you’ll
see that it’s not worth the risk.