Case Studies

Case Study

A regular savings account will allow this client to maximise his time as an expat and to build up his wealth over the medium to long term.

Our 32-year old client has been an expat for about 10 years and doesn’t ever plan to return to Europe. He’s single, with no children. He doesn’t own his own property, but has some savings in the bank and has a relatively small company pension scheme.

Our client wanted a regular savings tool that helped him build his wealth and savings up over time with the benefit of dollar cost averaging.

Our fact find identified that he considered himself a defensive investor who is more comfortable with the banks, but wanted to build up savings for a deposit on a house and for his retirement.  We identified a Singapore-domiciled savings account which benefited from 95% government-backed protection. Although he aims to put aside ¬£1,000 every month, the account offers full flexibility within the plan for him to be able to save according to his situation each month.

The account allows him to stop and start when he wants, to take a premium holiday, increase or decrease premiums, and even to withdraw cash penalty free after 18 months. It also offered him an enhanced allocation offer of 7.5% on the first 18 months of premiums and a loyalty bonus at end of its term.
With 23 years until his planned retirement age of 55, the tax free compound growth – with no onshore tax at source on any gains – from the funds he selected to match his risk profile should allow him to build up his wealth over the medium to long term.

Tax efficient regular savings investments for expats in Asia

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