I am looking at starting some investments and have been told to do this offshore. What does this mean and is it recommended?Thinking about investing offshore, any advice?
Going offshore means you are investing outside your own country. If you are an American then offshore could mean investing in Germany. The US has many laws and regulations to reduce the odds that people are cheating you. Some other countries have similar laws like Canada but others have very few (much of Africa or China). So there is added risk going offshore but it depends a great deal on the country involved.
There are also tax implications - you need to insure you pay taxes in both the US and the foreign country. If you bought a mutual fund that invests overseas then they make the tax issues easy but depending on the investment you may need a tax professional to assist you.Thinking about investing offshore, any advice?
Who is recommending you invest offshore?? What's so great about offshore? Did the person recommending this to you not explain it??
When you go offshore, you don't have the same protections as at home. When you invest offshore, it is much easier to part you from your money.
What is this great offshore investment - a savings account, a stock, a bond, real estate, etc?
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