Mind Your Money: Made your investments? But are you reviewing them too? | Khaleej Times
"Cross-border wealth management demands a deep understanding of international financial regulations. Working with a financial adviser, therefore, helps. By virtue of their experience and expertise, financial advisers can help you navigate the world of investments. Typically, a financial review for expats will involve the formulation of strategies to manage wealth across different jurisdictions cost-effectively while ensuring timely compliance with regulations. Due to the dynamic nature of such regulations individually and in relation to a specific country, periodic reviews are essential to avoid legal issues."
"Most expats face complexities in managing tax due to incompatibility in employment and business policies between host and home countries. Some countries have double tax avoidance agreements (DTAAs) and foreign tax reliefs, among other policies in place, simplifying compliance for expats. Financial advisers tend to be up-to-date with such provisions, enabling you to minimise your tax liability and maximise savings without legal ramifications."
"Going forward, as global financial systems tighten regulations to combat evolving threats like cyberattacks and introduce policies aimed at greater transparency, expats may have to visit their portfolios more frequently. While there are no set-in-stone rules on how often a portfolio should be reviewed by experts, you can benefit immensely by doing it once every six months or at least a year. At a time when small changes are making a big difference in financial markets, periodic reviews are nothing short of an investment in itself."