Investing abroad can give some great returns, especially in this highly globalized economy. However, it’s also ridden with pitfalls, including everything from currency value shifts to cultural barriers such as language. Whether you’re planning to invest in stocks and shares or opt for something such as property instead, it’s important to get some assistance so that you can keep your global investment portfolio looking sharp.
Go for award winners
The investment sector plays host to plenty of recognition schemes that provide industry leaders with a chance to be rewarded for their efforts. Everything from client fund protection to good customer service is recognized in these awards – so as someone looking for investment services yourself, the value of these schemes lies in the way that they can point you towards the best professionals to go to. If you’re looking to invest in Britain, for example, then the nominees for the Share Magazine Shares Awards might be a good place to start. In Australia, the Stockies awards for Australian brokers is a great place to look. No matter where you plan to invest your cash, there’ll be a relevant awards scheme in the country that you want to use.
Find a specialist broker
There are brokers in every major economy around the world, and all of them have wise investment knowledge when it comes to navigating the local markets. However, if you’re based in Seattle and you’re planning to invest in Sydney, then a local broker in either of those places is inevitably going to be more familiar with their own environment than with the wider one.
Step forward the specialist international broker: by approaching a practice or an individual who is an expert in international investing, you’ll save yourself time in the long run as they’ll know how to help. These are usually available through a Google search, or your domestic broker may be able to put you in touch with their practice’s international branch.
When investing abroad, you’ll usually need to have a good currency dealer on hand who can help you keep as much as you can of your international profits before converting them back into dollars. Some important options to look out for in a currency broker include bulk-buy deals, whereby the exchange rate fee is slightly lower if you’re cashing out a large amount of money. This way, you’ll be able to structure your profit withdrawals strategically and at the right time in order to pay as little as possible on the transaction.
If you’re thinking about investing abroad, then you’ll know that it’s not always simple and easy. There’s a lot to think about, and you could find yourself in trouble if you don’t get the help that you need to make it go as smoothly as possible. From finding a reputable currency dealer to locating an international specialist who works across borders, you’ll be giving yourself the best possible chance of international investment success.