Galveston Wealth Helps out by Making a home for expats

It makes sense for a lot of investors tied to a home base to keep their assets close by. But for business people who regularly engage in international travel, for anybody living abroad or thinking of doing so like retirees or for those who might maintain assets in multiple currencies it is imperative to study the wealth planning options available to expatriates.

It’s nice to have your assets pooled in one spot in your home country but it’s not always possible. When you live abroad, managing your finances at home is complex. Similarly, there are tremendous advantages to keeping your financial resources managed in offshore accounts.

Companies have been catering to expatriate investors for years. But Galveston Wealth, which started up in 2007, specializes in expatriates living in Asia, Europe and the Middle East and its officers have decades of experience in handling offshore investments for its clientele.

“The company was established by a group of professionals seeking to cater to a burgeoning demand for high quality bespoke financial services from the expatriate community and high net worth families in the region,” says a Galveston spokesperson in a statement on its website. “We have accumulated a wealth of knowledge through extensive working experience in the international equities, commodities, fixed income and futures markets.”

One overlooked aspect of developing a sound financial investment plan is time management. It requires considerable oversight to create a plan for long-term wealth accumulation.

But there are further pressures on time management when currency exposure and the myriad applicable securities regulations are considered. But the most important consideration for expatriate investors is understanding the tax implications for investments made outside the country.

That’s why it’s a sound decision to engage the services of a boutique advisory firm that specializes in managing expatriate investments. Experience brokers overseeing account of expatriate investors are well equipped to provide sound advice on any change in their portfolio.

And depending on the shifting geopolitical landscape, those changes can come often in order for investors to maximize their earning potential.

Finally, even for long-time existing expatriate investors, it might be a good time to consult a specialist. For Americans, the IRS has been ramping up its enforcement of foreign holdings over the last several years and failure to understand the agency’s new enforcement mechanisms could result in substantial penalties.

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May 17, 2016 Galveston Wealth Helps out by Making a home for expats