A Different ‘Offshore’ - Wealth Management For Asian Clients

For that tax-efficient, wealth-protecting offshore jurisdiction, don't just look at the Caribbean. Guernsey can offer everything you need to keep your wealth intact, says Fiona Le Poidevin, CEO of Guernsey Finance.

There is a growing awareness in Asia of the products and services which offshore centres can provide to Asian high net worth individuals (HNWs). An offshore jurisdiction provides a third-country location from which Asian families can protect and even enhance their wealth for the benefit of future generations.

However, what we are still finding is that many in Asia still equate offshore with only those jurisdictions in the Caribbean and in particular, the British Virgin Islands (BVI) and the Cayman Islands. Asian clients and their advisers need to understand that offshore extends beyond those jurisdictions and indeed, not only are there other international finance centres but these offer a very different and in many cases better proposition. For