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International financial planning in Cayman Islands provide good advice?
Comments
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Plenty of legitimate companies are domiciled in Cayman, Bermuda, Cypress, IOM, Jersey, Guernsey etc etc for tax reasons as those states levy no withholding tax on dividends.
However I cannot think of any reason why a normal investor would need to park their money in Cayman Islands and entrust it to a local FA in preference to one in the UK?“Like a bunch of cod fishermen after all the cod’s been overfished, they don’t catch a lot of cod, but they keep on fishing in the same waters. That’s what’s happened to all these value investors. Maybe they should move to where the fish are.” Charlie Munger, vice chairman, Berkshire Hathaway0 -
Kim, tell your cousin that the Cayman Islands is one of the last places they should place their money. Go to http://www.vanguard.co.uk read the information on there and learn the basics of simple investing“So we beat on, boats against the current, borne back ceaselessly into the past.”0
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As it happens, until recently I held an investment that was issued in the Cayman Islands. However, I held it through a platform based in the UK. I cannot imagine any reason why someone who is not a wealthy and sophisticated investor would want to send money from the UK to a "wealth manager" there.
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