Recent research reveals many expatriates are unaware of offshore banking and savings, and thus can fall prey to unregulated overseas brokers who are keen to sell products. Clearly, there is a market for educating this group before they leave, says Guy Stephenson
Research carried out recently for Skipton Guernsey among expatriates in Dubai has revealed a startling lack of knowledge about offshore banking and savings at the most basic level. The research was conducted among a sample drawn from the 400,000 or so expatriates who, according to the Institute of Public Policy Research, leave the UK every year to start a new life abroad. Focus groups covered varying sections of the expatriate community, from teachers to small business owners. Topics discussed started with the planning for the offshore posting carried out in the UK and, following their ar...
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