How to keep your money safe when investing offshore
If you're thinking about investing offshore, one thing holding you back may be concerns about investing in a scam or fraudulent investment.
Just like in South Africa, unfortunately there are scammers in other countries trying to con you out of your money.
But the good news is, by sticking to some guidelines you can ensure that you put your money to work in reputable and creditable investments.
Read on how to do it…
Investigate any offshore investment opportunity thoroughly
It’s your money you’re putting to work offshore
, so you need to ensure you do your homework.
The best thing to do is never deal with companies you’ve never heard of before. Stick to the names you know. Even if an agent claims to be from a reputable financial institution, check this out yourself.
How to reduce your chances of investing in an offshore scam
There are a number of tell-tale signs that can indicate something’s awry with an investment opportunity.
Watch out for:
Cold calling. Approach companies yourself, not the other way around.
Claims of huge gains. If you can’t work out how this could be feasible, it probably isn’t.
Any type of get-rich-quick scheme. Chances are you’ll lose money.
Countries worth considering when investing offshore
Whilst there may be opportunities across the globe, it’s worthwhile having a look at countries which have strict laws governing investing.
Following the financial crisis, many countries have tightened up legislation too, which can only be good news for investors.
Consider countries that are in similar time zones to South Africa and speak English. This will make communication easier. And there’s no chance of anything being lost in translation.
Whichever country you choose to invest in, make sure the necessary regulatory bodies govern the company you invest through.
Make sure you shop around for the best offshore investment opportunities for you. Don’t rush into any decisions you could end up regretting.
So there you have it. How to keep your money safe when investing offshore.
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