An investment designed for the British living in France!

An investment designed for the British living in France!

by | Oct 6, 2008

With Sterling weakened against the Euro and uncertainty caused by the credit crunch, where does one place their money? Should one invest in the UK or France, Sterling or Euros? Maybe money could be placed in some offshore tax haven, with the possibility of arousing the suspicion of the fiscal authorities.

As a British national living in France, there is often a need to access and switch between currencies or hold a mix of the two. There are offshore investments can offer Sterling and Euros, but they are not approved for use in both France and the UK, or possibly neither. There are also huge concerns regarding the security of capital. This investment has been designed to address all those needs.

The investment is with a subsidiary of two companies (neither of which are banks) with combined funds under management of €130 billion in a location with amongst the best and most stringent investor protection laws in the world.

This is a unique offshore investment in that it has been approved for use in France by the French fiscal authorities, giving tax efficiency in France and the UK, as well as the highest levels of security and unparalleled currency and investment flexibility, whilst also offering funds with guarantees.

This investment is in Luxembourg, where 100% of assets are held by a Luxembourg Life Office, supporting liabilities to policyholders, must be deposited with an independent custodian bank, under the supervision of the Luxembourg insurance authorities.

Since the custodian bank is never the owner of the assets, if it itself failed, a new custodian would be appointed. This level of investor protection far outstrips that offered by either the UK or France, making this investment a very secure place to put your money.

The fact that this investment is not in France, means there are considerable advantages for the new French residents for reducing or completely avoiding wealth tax for up to five years, due to recent legal changes.

Moreover, this investment is multi currency, denominating in Sterling and Euros, or indeed a mix. You may easily switch between currencies, within the investment, removing the need for expensive and time consuming bank transfers, offering you great flexibility to plan with currency and deal with exchange rate fluctuations and uncertainty.

This investment has access to a vast array of international funds, but more interestingly, to funds that offer a guarantee, of not just the capital, but the return as well.

As far as we are aware this is the only Luxembourg investment designed and authorised for sale in both France and the UK, giving the necessary flexibility for the investor who may move between the two countries.

Robert Kent

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 Disclaimer: The information in the above article concerning taxation is based upon our understanding of the taxation laws and practises in France at the time of writing. These taxation rules are subject to change and as such, Kentingtons cannot be held responsible for any inaccuracies that may occur. The information in this article does not constitute personal advice. Individuals should seek personalised advice in relation to their own situation.

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