Advantages of offshore endowments
• Investment choice: you can choose from hundreds of offshore investments. • Tax: you don’t have to declare your returns to the taxman, because they are taxed in the hands of the life company. The rate is 30 percent, so you benefit only if your marginal tax rate is 30 percent or higher. • Estate planning: you don’t need a separate will for your offshore assets. If you nominate a beneficiary, on your death the proceeds are paid directly to the beneficiary, and your estate does not pay executor’s fees on the proceeds.