Are you fascinated by the rise and fall of stocks around the world? Do your bedtime stories consist of books on tax laws? Do you love to travel and want to make more money? Are you ready for a career change? If so, you might make a great offshore investment broker.
What Does an Offshore Investment Broker Do?
Offshore investments are classified as such on a stock exchange, which means that investors are not taxed on dividends paid by the fund. In addition, the corporate profits of these funds are usually subject only to very low local taxes. Several types of accounts are available, including investment club accounts, individual and joint accounts, estate and trust accounts, and corporate or partnership accounts.
An offshore investment broker helps investors select and manage offshore accounts. They generally work overseas and meet with clients one-on-one via the Internet or phone. Offshore investment brokers generally work through a larger offshore investment company, rather than independently providing financial services to customers. Many offshore investment brokers need to be available at odd hours to assist customers in different time zones.
What are the Advantages of Working in Offshore Investments?
Although offshore investment brokers must work very hard to earn a living, the living they do earn is considerable. Because of the tax savings on offshore investments, offshore investment brokers can frequently charge a higher commission than their traditional counterparts. This translates to a higher personal income for the broker, often in the range of $ 300,000 per year.
Offshore investment brokers also work in exciting locations. If you love to travel and enjoy the idea of living in a foreign country, this might be a great career for you. Brokers working for offshore investment companies get to see the world.
What Do Offshore Investment Firms Look for in a Broker?
Because clients are located all over the world, offshore investment brokers may need to speak two or more languages. This allows them to communicate with clients in one location while handling investments in another. In addition, offshore investment brokers should be able to move to other world locations as needed by the brokerage.
Offshore investment firms are interested in brokers who are great with people. Because of the intensive one-on-one nature of offshore investment, people skills rank high on the list of desired qualities in a candidate. Ideal brokers are also self-motivated, positive, and work well in a team. High value is placed on ethics and courtesy as well.
Offshore investment brokers sometimes need to work long hours, so brokerages are interested in candidates who are hard working and driven by rewards and results. A clean criminal background check is also a major requirement for this type of work.
How Do I Become a Broker?
Becoming an offshore investment broker is a multi-step process. It’s important to make sure you have the proper training and qualities before applying for positions and preparing to pack up your life and move to another country.
Most offshore investment firms provide training in the specifics of being an offshore investment broker, but they expect candidates to have qualifications related to investment brokerage in general. Specifically, they expect to see people who work at a senior management level, have a great track record when it comes to sales, and have a history of completing high-value transactions.
Here are some specific steps you can take to become an offshore investment broker:
– Establish yourself as a broker in a domestic firm. Try to attain a senior level position and perform well at this position for a couple of years.
– Learn at least one other language. The language you choose to learn depends on the location of the brokerage where you would like to work, as well as the language spoken by many of its clients.
– Be sure to document your sales successes, especially those involving high-value transactions.
– If possible, establish a relationship with other offshore investment brokers. As with any career, networking is very important.
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