If your business faces the challenge of attracting and retaining senior expatriate workers, you will appreciate the following opportunities afforded by the offshore world, and how we as an offshore provider and a company who who has being servicing expatriates for over 35 years, can assist in keeping and incentivising the right people for your business.
Offshore Pension Schemes
OCRA Worldwide offers immigration consulting services across the entire range of employment activities in the United Kingdom, Hong Kong SAR, People’s Republic of China and Singapore. Our service draws upon our specific expertise in, and knowledge of, the business environment within these regions.
We assist with document gathering (individual and corporate) and pre-processing, obtaining translations as appropriate, legalisations, and similar authentications as and when required. We then coordinate the processing of these visas and applications drawing on our in-house professional skills and network as required.
Our services include:
For further information on how OCRA Worldwide can be of assistance please contact our Hong Kong or London office.
If your employees derive income from a country where they are not resident, they face the danger of being taxed twice on the same income.
Our senior consultants can help ensure that you gain maximum advantage from global tax treaties, and check that double taxation does not apply before any financial commitments are made.
An International or Offshore Personal Pension Scheme offers a tax neutral convenient and cost effective method of retaining funds in a secure well regulated environment.
The flexibility of International Pension Schemes means that there are many different circumstances in which they can provide a solution to the needs of a corporation or individual. These include:
Pension Schemes can be established for international companies whose workforces are in several jurisdictions and who wish to take advantage of the economies of scale and the option of having one pension scheme in one jurisdiction. Locating offshore pensions from many jurisdictions in one place, and for long periods by one well regarded and independent provider and administrator should lead to administrative cost savings, as well as providing stability.
Pension Schemes for small companies who wish to establish a bespoke occupational pension scheme for one or more of their key executives with the ability to ensure that any surplus funds after death are transferred into a trust or other similar arrangement.
Pension Schemes for individuals who wish to establish a flexible bespoke pension in a well regulated environment. There is no need for pension plans to follow the executive as he pursues his career in differing overseas localities for the same employer.
Pensions fall outside the scope of the EU Savings Directive and because there are no limits to the contributions made into a scheme, assets already possessed may be transferred into such a scheme.
Suitable for Companies employing highly qualified expatriates in low tax environments-such as the Oil and Gas Industry and Airlines operating from the Middle East.
Choosing the right healthcare policy to suit your lifestyle should not be a complicated process and will pay dividends, especially if your health is badly affected. Living and working overseas, you will have access to a ‘mixed bag’ of medical resources, depending on where in the world you are based. However, for continuity of medical support and provision of worldwide services, it is essential to make sure you have the right international health insurance provider. Fast and efficient claims processing, the ability to choose where in the world you want to be treated if ill and the peace of mind that comes with an effective assistance service are all factors that will be high on your list.
With over 20 years experience in the international healthcare insurance business, our preferred provider of health insurance, MediCare International, understands the importance of an efficient and diverse assistance service, the backbone of the service it offers clients. MediCare International work closely with their assistance centre to create an administrative safety net for our clients in all situations, from day-to-day, routine problems such as GP and dentist visits to providing an effective and rapid back-up for air evacuation.
We know that all sorts of factors come into play when confronted with a medical problem or emergency, such as language and cultural difficulties, which add to the complications and feelings of vulnerability. In situations like this, problems of ‘choice’ are even more important and need to have been fully resolved and understood when the policy is taken out. One of the cornerstones of MediCare’s provision is a guarantee that if clients are not happy with the quality of local care facilities, they can choose where in the world they want to be treated and we will meet all the costs as covered by the policy. Moreover, if their assistance centre agrees that local facilities are below the high standards they set, they will also meet all travel costs to the hospital of the client’s choice. By anyone’s standards, we believe that this level of provision does offer real peace of mind and a real ability to choose.
MediCare International stands out in a seemingly complicated market by offering its clients clarity of product, reassurance and a strong service ethos. Newly installed customer systems, along with a reorganisation of claims processing, means that claims submitted to MediCare International are now settled within 10 days on average and within one week in many cases. This gives MediCare clients one of the fastest settlement times in the market.
We can offer assistance to employers with the regulatory complications of employing staff in the major centres of trade and commerce, including the U.K., China (including Hong Kong), Singapore, Australia, and Western Continental Europe. We can also offer solutions to minimise the costs of employing key staff, while at the same time maximising the receipts by those employees.
There are particular issues in Europe with which our offices in the Isle of Man, London and Luxembourg can provide specific assistance ensuring that both employers and employees maximise the financial benefits from their relationship, whilst remaining fully compliant with local regulations.
The services on offer include assistance with the preparation of contracts of employment, management of the employer’s obligations with regard to employee-protection (health and safety at work, unfair dismissal, trade union representation and the likes), and the design of remuneration policies to minimise the costs of taxation and social security both to the employer and to the employee.
A bespoke 'offshore' solution can be complex and requires careful planning and execution. We therefore encourage our clients to contact us directly, without obligation.
All of our consultants in our offices provide a Free Initial Consultation and will gladly assist with advice on how to approach your particular challenge.
To select one of our multilingual offices, click here for a list of our office contact details. Alternatively, click on the button below and request that a consultant calls you back.
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