Don't fall prey to an offshore investment scam… Look out for these six warning signs
Investing offshore can benefit your investment portfolio by boosting returns and adding much needed diversification.
But you can't blindly approach investing offshore.
Before investing a cent, you need to do your due diligence. By doing this, you'll reduce the chance of making an investment mistake you'll live to regret.
Read on to find out what to look for…
#1: Is the investment firm audited?
Six ways to spot scam offshore investments
Check that the offshore
investment company you’re looking to invest with is audited by a renowned company. If it’s a scam, chances are it won’t be.
#2: It is registered with the relevant regulatory body?
Check that the investment company is registered with the relevant regulatory body in the country it’s based. Check on the country’s government website to find out more about this. If it’s not registered, avoid.
#3: Search the financial press for references to the investment company
You’re looking to find references to the company in credible sources, such as different financial newspapers and magazines. No coverage is not a good sign.
#4: Is the investment opportunity transparent?
If it’s not, walk away. You should be able to clearly see what the investment is all about and what it does.
#5: Does the investment company have a good reputation?
Again a simple online search should provide you with the answer for this. You want to see positive reports about the company, from professionals and other investors.
#6: Does the investment make sense?
Whether it’s in South Africa or offshore, you shouldn’t invest in something you don’t understand. You want to be able to see where the prospect of making returns comes from. And be wary of investment opportunities marketing guaranteed returns.
So there you have it. Look out for these six warning signs so you don’t fall prey to an offshore investment scam.
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