Save And Invest Products Offshore Saving Account Potential 1360X784

Offshore Savings Account

A simple, tax-efficient savings plan

Introducing our Offshore Savings Account

A flexible, tax-efficient way to build up savings. Choose to make a regular minimum payment of £500 a month, or single payments of £7,500. There’s no limit to the amount you can invest and you can make extra payments as and when you like. This account could be ideal for anyone who’s already used up their ISA or pension allowance or who wants to invest in a tax-efficient way.

Key benefits

Coins
Tax-efficient growth on your account
Bank
Open an account with just £500 a month
Money 2
Hold your investment in sterling, euro or US dollars
Additional Borrowing
Option to take regular and ad-hoc withdrawals

The value of your investment can go down as well as up and you may get back less than you invest. Tax rules depend on the type of investment and individual circumstances and may change.

How it works

Is it right for me?

This account could be right for you if:

  • You’re aged between 18 and 89 years old
  • You want to make regular monthly savings of £500 or single payments of £7,500
  • You’re happy to save for at least a three years or more
  • You’ve already used up your annual ISA or pension allowance
  • You’ve got other savings and investments to rely on
  • You want to generate a capital lump sum, an income, or both

This account might not be right for you if:

  • You have less than £500 a month to save
  • You haven’t used up all of your ISA allowance
  • You might want to withdraw all of your investment straight away
  • You can’t afford to lose the amount you invest

This product has won 3 awards.

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Compare investment products

Select Account Premiere Account Premiere Europe Account Delta Account Elite and Prestige Accounts Offshore Savings Account
Issued from Canada Life (UK) Canada Life International (Isle of Man) Canada Life International Assurance (Ireland) Canada Life International (Isle of Man) CLI Institutional (Isle of Man) Canada Life International (Isle of Man)
Minimum initial investment £5,000 £50,000 £50,000 £3,000 £1 million Zero (or £7,500 if regular premiums are not used)
Regular premium option No Yes, minimum of £2,500 a month Yes, minimum of £2,500 a month No No Yes, minimum of £500 a month
Investment choice Over 150 insured UK life funds Any permissible fund plus cash deposits and the segregated portfolio service Any permissible fund plus cash deposits and the segregated portfolio service Over 150 insured Isle of Man life funds Any permissible fund plus cash deposits Over 150 insured Isle of Man life funds
Maximum number of sub-policies 999 99,999 99,999 10 998 10
Bond currency £ £ $ €  £ $ €  £ $ €  £ $ €  £ $ € 
Free fund switching Yes No No Yes No Yes
Platform / DFM links No Yes Yes No Yes No
Capital redemption option No Yes Yes No Yes No
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