If you live in a country with a weak currency, then you would probably see the sense in taking money offshore to store and invest in a major currency. The overriding benefit of this move is that your international buying power won’t be eroded because your currency is devaluing against the likes of the US dollar, pound sterling or euro.

The UK remains a popular investment destination despite the challenges that Brexit and COVID pose to the UK economy. This is especially true of the country’s resilient residential property sector that recorded double-digit price growth in 2021.

How quickly things change. A mere two years ago, pandemics and the long-tail fallout from such a global event were furthest from most people’s minds. The reality, however, is that the world has been changed in many, unavoidable ways that will continue to shape our immediate future.

One of the benefits of an international current bank account is that it opens many doors and opportunities you wouldn’t otherwise have available to you. These opportunities become ever more apparent once you’ve made the initial move to hold some of your capital and investments offshore.

Sanmari Crous, Business Development Manager for Standard Bank’s International Fiduciary Services.