As a foreign national, or more commonly known as an EXPAT living in Latin America you may wish to consider engaging a financial advisor to provide you with different investment options that meet your financial needs. With that said and before investing as an EXPAT it is important to consider, what are your investment needs? What are your financial objectives? And what is your risk tolerance?
In this article we will explore these points further, but first:
What should you expect from your financial advisor?
Before investing as an EXAPT, choosing the right investment advisor is critical and here is what you should expect from them:
Understanding your unique investment needs as an EXPAT
Analyzing your options
Tailoring an investment solution for your needs
Carrying out your choices
Being committed to your financial success
Here we go deeper into what you should expect from your financial advisor:
1. Understanding your investment needs as an EXPAT – The financial advisor should understand your financial objectives, timeline and tolerance for risk
2. Analyzing your needs – The financial advisor should work with you to review your current financial situation and evaluate investment strategies and options with you
3. Tailoring an investment solution for your needs – They should evaluate and present investment options that meet your needs, timeline and risk tolerances
4. Carrying out your choices – The should communicate clearly about the chosen investment plan, and carryout your instructions to the best of their ability
5. Being committed to your financial investment success – They should remain engaged, committed, provide regular updates and be available to answer any questions.
It is important that the the financial advisor is experienced with providing wealth management and investment solutions for EXPATs, and understands the unique nature of the lifestyle and the impact of the potential investment options on his/ her personal taxation affairs.
What are the common types of investment options for EXPATs in Latin America?
High Interest Savings Accounts
Single Investment Funds
Portfolio Investment Funds
Direct share investing
Real Estate / Property Investments
Commodity Investment
So what type of investment do most Expats choose for investment?
Most Expats when investing choose an offshore Portfolio Investments Fund, as they present a far more liquid investment when compared to the other options, are usually denominated in United States Dollars or Euros and often have numerous tax advantages, which can vary depending on the tax residency of the Expat. Additionally with these types of investments you can make an initial once off payment and then continual investment payments on a frequency basis.
Key points when choosing where to invest as an EXPAT?
Liquidity of the Investment?
Flexibility of the Investment?
Security of the Investment?
Investment Risk ?
Investment Timeline?
Potential Return on Investment?
How will be it affected if you move locations?
What will you need to provide initially starting to invest as an EXPAT?
This can vary based on the investment option chosen, however normally you will need to provide / do the following:
Meeting with your chosen financial advisor
Review your options and confirm your EXPAT investment strategy
Complete an investment application form for the chosen investment option
Provide a copy of your Passport (and secondary identification such as a drivers license)
Provide a proof of residential address (i.e. Utility bill or bank statement is most common)
Confirm your country of tax residency location
Transfer the initial deposit
Note: In some cases it may be preferred to make the investment through a legal entity rather than as an individual.
As a market leader within the Latin American and Caribbean Region, with connections across all business and investment sectors we are well positioned to steer you in the right path and to ensure that your investment needs as an EXPAT are taken care off in a professional and competent manner. It is important that you seek professional advice when investing as an EXPAT and we can ensure that you engage the very best advice.
Contact us today to find out more about how we can assist you with your EXPAT investment needs.
As informações fornecidas aqui não devem ser interpretadas como orientação ou aconselhamento formal. Consulte um profissional para sua situação específica. As informações fornecidas são apenas para fins informativos e podem não abranger todas as leis, padrões e práticas recomendadas pertinentes. O cenário regulatório está em constante evolução; as informações mencionadas podem estar desatualizadas e/ou podem sofrer alterações. As interpretações apresentadas não são oficiais. Algumas seções baseiam-se nas interpretações ou pontos de vista de autoridades relevantes, mas não podemos garantir que essas perspectivas serão apoiadas em todos os ambientes profissionais.
La información que aquí se ofrece no debe interpretarse como orientación o asesoramiento formal. Por favor, consulte a un profesional para su situación específica. La información proporcionada tiene únicamente fines informativos y es posible que no recoja todas las leyes, normas y mejores prácticas pertinentes. El panorama normativo está en continua evolución; la información mencionada puede estar obsoleta y/o sufrir cambios. Las interpretaciones presentadas no son oficiales. Algunas secciones se basan en las interpretaciones o puntos de vista de las autoridades pertinentes, pero no podemos garantizar que estas perspectivas se respalden en todos los entornos profesionales.
The information provided here within should not be construed as formal guidance or advice. Please consult a professional for your specific situation. Information provided is for informative purposes only and may not capture all pertinent laws, standards, and best practices. The regulatory landscape is continually evolving; information mentioned may be outdated and/or could undergo changes. The interpretations presented are not official. Some sections are based on the interpretations or views of relevant authorities, but we cannot ensure that these perspectives will be supported in all professional settings.
Craig Dempsey
Craig is a seasoned business professional in Latin America. He is the Managing Director and Co-Founder of the Biz Latin Hub Group that specializes in the provision market entry and back office services. Craig holds a degree in Mechanical Engineering, with honors and a Master's Degree in Project Management from the University of New South Wales. Craig is also an active board member on the Australian Colombian Business Council, and likewise also active with the Australian Latin American Business Council.
Craig is also a military veteran, having served in the Australian military on numerous overseas missions and also a former mining executive with experience in various overseas jurisdictions, including, Canada, Australia, Peru and Colombia.
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