Overseas Investments

lisa3

Hello, I was wondering if anyone could give me any advice on overseas investments. We are UK nationals on expat status overseas and have been approached by several brokers selling a "insurance" with friends provident. They are selling it as a savings style investment plan but as we are currently overseas and the plan is registered in the isle of man there is no tax on the withdrawals if we remain outside of the UK when drawing the money after the term ends. It seems like a good deal but the fee structure etc. is a little confusing and there is not much information on the web about this style of plan so we are a little skeptical of the whole thing but would like to invest our money somehow. Many thanks for any advice you can give us!!

dunstonh

Is it on offshore investment bond (single premium) or an endowment style savings plan (regular contribution)?

Are they UK based IFAs or are they overseas based? (important as whilst you dont get FOS protection either way, UK based advisers should still be working to UK standards and regulation. Overseas based reps have a much poorer reputation and in some areas they actively target ex pats spouting all sorts of rubbish and misinformation to get you to sign up). Certain countries have seen really big issues (Spain, Middle East and now moving into Asia).