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A special message for TDF members and expats...
Hello TDF members and expats in China,
This email is just to talk about something I recently did which may interest other expats. It's regarding my retirement savings and 'offshore investments'.
As a Canadian living outside of Canada, I have no way of adding to the Canada pension plan or creating a registered retirement savings plan. Since I have a steady job in Beijing, I was only putting my savings from my salary in the bank. Recently, I discovered this investment/retirement savings option using 'offshore investments. Instead of just putting my money in the bank, I can now put it in this other savings plan and get a much better return on it. It's a safe investment.
Anyhow, I won't elaborate more on it. My agent, Mr. Tony Mustafa from England is living in China and asked me to let other know about this in case they are interested.
Without saying any more, I am attaching the introductory brochure about the company 'Essential Finance Services' that you may read or delete.
Have a nice day.
Richard
TDF
Tony Mustafa
group managing director
www.essential-finance.com
essential finance - the offshore investment group
suites 1601-1602 OOCL plaza , 841 middle yan an road
shanghai, 200040, china
t +86 21 6247 5755 m +86 136 8160 2020
f +86 21 6289 0770 m +65 9007 5400
e tony.mustafa@essential-finance.com
a member of the essential group - hong kong • shanghai • beijing • singapore • bangkok • mauritius
Thank you for the information Re: pensions and retirement savings.
I am also a Canadian living and working at the same job in China for over 6 years and can assure you that paying taxes on money earned anywhere in the world is something that should be done every year, unless you KNOW you will NEVER EVER return to Canada (or your home country)!
I have filed a tax return for every year I've been away and contributions can be made to both CPP and RRSP's. I have done so.
The company has an excellent well written 'blurb' however as an ex-banker (Toronto Dominion) I can assure you that a return of 163% in 7 years is a pipe dream of the greatest magnitude.
Canadian banks have the best record in the world and they can't produce such results. Just looking at the world investment situation of the last 2 years is what makes such opportunities seem so attractive.
On another note off-shore investments are taxable under Canadian law.
I'm sorry if this isn't 'good' news but I thought as a fellow Canadian I should give you some further information to consider and if you have an accountant in Canada your future could be brighter than you think.
As for other countries I don't know the laws/regulations but I suspect they would be similar in nature.
Governments do not like to miss out on tax money wherever/whenever it can be generated, just check out the US plan to get deposit information from any/every bank in the world about any/every American who has an account in a foreign country.
This lovely law goes into effect 01 July 2010!!! China (read 'all banks') has agreed to comply so happy 4th of July to all of our American friends living in China and not filing tax returns!!
And don't think other countries won't see the advantages of such a scheme.
In the computer age it is unrealistic to think that our whereabouts and activities are unknown. Foreigners have to provide passports to check into a hotel in more countries than China!!
Cheers for now -- and keep on with the emails -- I do enjoy getting them -- and please don't shoot the messenger.
You have my permission to forward this email to anyone you think may have an interest.
