The super rich live an exclusive and extravagant lifestyle that ordinary people can only imagine. In fact, everything that they put an interest in has a big price tag attached to it – and one perfect example is traveling. Billionaires, celebrities, and heirs to multimillion dollar companies: where do the uber-wealthy spend their lavish vacations?
Here are some of the most favorite travel destinations for billionaires and tycoons.
The Caribbean easily ranks as one of the top places where billionaires travel. Aside from being one of the leading offshore investment centers in the world where high net-worth individuals flock, thousands of idyllic islands surrounding the region boast a genuine and exclusive experience of traveling in paradise. Top islands in the region include The Bahamas, the Cayman Islands, and British Virgin Islands.
The Maldives is major luxury destination among the rich and famous, peppered all over by private island-paradises owned by equally wealthy individuals. This tiny Indian Ocean archipelago has welcomed many wealthy famous celebrities including Michael Phelps, Russell Brand, Katy Perry, and royal couple Prince William & Princess Kate.
Fiji is home to over 300 islands located in the South Pacific. This famous travel destination is known for its clear lagoons, a rich abundance of coral reefs, and their mesmerizing rugged landscapes. Most importantly, the destination is popular among tycoons and billionaires who found their second home and bought their own islands.
Laucala Island, for example, is owned by the Australian Red Bull tycoon Dietrich Mateschitz and while it was once a private refuge of the late Malcolm Forbes, it was transformed into an exclusive resort favored by the world’s richest.
When buy and sell decisions are under the discretion of an investment manager, clients have the assurance that their portfolio is well organized and in good hands, thanks to the expertise and experience that this type of asset management has to offer.
However, it’s not that easy to find an exceptional discretionary portfolio manager, unless you know where to look. There are several financial centers scattered all over the world but topping the list are offshore financial centers located near or within the Caribbean region. Here are the three most trusted financial centers and what they have to offer when it comes to offshore discretionary portfolio management.
Bermuda is home to several financial offshore services and it includes offshore discretionary management that caters to high net-worth individuals from every part of the globe. One of this financial location’s known strengths is its popularity in helping their clients build a strategic portfolio because of its connection to different investment assets. One example is its access to hundreds of mutual funds that strive for building a valuable and sustainable portfolio.
Cayman’s tax-neutral status is not the only factor that makes it one of the top providers of discretionary portfolio management services. This jurisdiction provides tailor-made policies for foreign investments, with a legal system that protects and gives freedom to professional service providers in making the best financial decisions for their clients.
One of the goals of this jurisdiction is to create a globally competitive financial sector especially when it comes to private wealth management and capital investment. Thanks to the foreign-friendly investment policies created by the Bahamian government, its financial sector is able to present a globally-accepted set of regulations that have benefited services such as portfolio management for international clients.