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Zurich targets HNW with offshore bond launch

Zurich has launched a new international portfolio bond aimed at high net worth UK residents.

IPB is produced and underwritten by Zurich’s Irish business and seeks to offer clients greater investment flexibility than onshore investment bonds.

The new bond is provided from and will be administered in, Dublin and will be passported initially into the UK, with the potential to launch later into other countries.

It is ‘factory gate’ priced with customer agreed remuneration and is being launched with access to more than 1500 funds, a range of offshore bank deposit accounts, a discretionary management facility and options available for withdrawals and payments.

It is also available as a capital redemption plan and features a death benefit guarantee, as well as access to a full range of trusts for IHT planning.

Zurich says the tax status of an offshore bond potentially makes the launch an attractive proposition for those planning to move abroad or those who expect to be in a lower tax bracket in the future.

Investment management director Paul Wright says: “This is an exciting proposition with novel features aimed at UK resident, high net worth customers.

“In addition to its offshore tax status, the wrapper also offers great flexibility of a choice of currency – both for withdrawals and payments – frequency of withdrawals and fund solutions.”

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