Mr. Tony Shah

Verdict: Tony Shah, a director of the international division for IFA Towry Law, said: "I would be concerned about locking my money up in an account with such a long notice period, as interest rates are more likely to go up from here rather than down.

"Bradford & Bingley is, however, one of the best firms in the international bank account market."

Contact: 01624 695 000

Published 9 May 2002

"The size, objectives, costs and quality of management of individual funds is simply too varied to allow any valid comparisons to be made," said Tony Shah, a financial adviser with Towry Law Financial Services Ltd. in Bristol, England. .For more information: .BARCLAYS INVESTMENT FUNDS (ENGLAND).Telephone: 44 20 7977 7000. .BARING INTERNATIONAL FUND MANAGERS (IRELAND).Telephone: 353 1 670 0660. .FOREIGN COLONIAL MANAGEMENT.
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"The size, objectives, costs and quality of management of individual funds is simply too varied to allow any valid comparisons to be made," said Tony Shah, a financial adviser with Towry Law Financial Services Ltd. in Bristol, England. .For more information: .BARCLAYS INVESTMENT FUNDS (ENGLAND).Telephone: 44 20 7977 7000. .BARING INTERNATIONAL FUND MANAGERS (IRELAND).Telephone: 353 1 670 0660. .FOREIGN COLONIAL MANAGEMENT.
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"The size, objectives, costs and quality of management of individual funds is simply too varied to allow any valid comparisons to be made," said Tony Shah, a financial adviser with Towry Law Financial Services Ltd. in Bristol, England. .For more information: .BARCLAYS INVESTMENT FUNDS (ENGLAND).Telephone: 44 20 7977 7000. .BARING INTERNATIONAL FUND MANAGERS (IRELAND).Telephone: 353 1 670 0660. .FOREIGN COLONIAL MANAGEMENT.
...
"The size, objectives, costs and quality of management of individual funds is simply too varied to allow any valid comparisons to be made," said Tony Shah, a financial adviser with Towry Law Financial Services Ltd. in Bristol, England. .For more information: .BARCLAYS INVESTMENT FUNDS (ENGLAND).Telephone: 44 20 7977 7000. .BARING INTERNATIONAL FUND MANAGERS (IRELAND).Telephone: 353 1 670 0660. .FOREIGN COLONIAL MANAGEMENT.

Offshore Banking Information - Tony Shah

Tony Shah, an international director at Towry Law, says one thing to look out for is the possibility of compensation should your bank go bust.He says: "The Channel Islands and the Isle of Man and many of the European centres like Luxembourg and Dublin have those sorts of safeguards in place, but I would be very selective in the West Indies.Personally, I would also never put any money in Belize." He also claims that Gibraltar, although up and coming, is still "not up to scratch", although there have been recent rumours that the centre is seeing a rapid growth in its deposit base.

Tony Shah, international director at Towry Law, financial advisers, heads up a team of consultants dealing with expats worldwide: "The number of people who want to move abroad is increasing all the day.
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Tony Shah, at Towry Law, gives the example of pensions, where occupational pensions may be paid untaxed into some overseas bank accounts.They are then taxed in that country, but only if reciprocal agreement has been reached between the UK and foreign authorities.

Alternatively, for instance in Australia, it may be possible for some final salary schemes to be transferred to that country and used to buy an annuity.Clearly, such decisions require advice.

"Another wheeze applies to occupational pensions from the state and the way they are treated in various jurisdictions," adds Mr Shah.

Tony Shah, international director of Towry Law, says: "Nowadays, if you are going to be transacting business in any country in the world you need to have a licence in that country.Even if you have only one client."That is the case even if you fly in, spend a half-hour with your client and fly out again; even if your client is an expat, with no long-term link to the country.

"I'll give you an example," Shah explains."We no longer have a licence in the Republic of Ireland.If anybody from there gets in touch with us, without a licence we can't advise them."

Even long-term clients who were advised by Towry Law in the Middle East or Hong Kong cannot continue to receive advice if they retire to the Republic of Ireland.

"We can advise them on existing investments, to a certain degree, but we couldn't advise them on anything new," Shah adds.