OUR
OFFSHORE
PROPOSITION
OUR
OFFSHORE
PROPOSITION

We live in a connected world

To truly diversify your assets, you should be investing in the global economy.

You can have breakfast in Cape Town this morning, dinner in London this evening, and all the while be online, buying something from New York – South Africa as a financial destination is merely less than 1% of the global market place.

INN8 brings the world to your clients.

Offshore Assets

Investors can remit R1 million offshore without tax clearance using the discretionary allowance, and a further R10 million with SARS tax clearance, which allows a couple to invest up to R22 million a year in offshore assets.

Diversification

With local markets heavily weighted towards mining, agriculture and tourism as well as slow domestic growth in recent years coupled with a depreciating and volatile rand, the reasons for investing offshore are compelling.

Multiple Markets & Currencies

By directing funds offshore, investors gain exposure to multiple markets in numerous currencies and across different industries. Investing offshore also allows South Africans to guard against political risk, a practical concern of many.

Our Truly Offshore Proposition

We believe our offshore solution is unique and has the potential to add real value to your practice and to your clients’ portfolios.

Watch the video below for a short introduction to how our Offshore Platform works.

A TRULY OFFSHORE PLATFORM

No VAT charges on the platform or tax deducting within the portfolios. TAX reporting is still provided.

A BROAD RANGE OF CLEAN-PRICED FUNDS AND ETFS

Click here for the core fund list and here for the FSCA-approved fund list.

CASH AND TRANSFER IN SPECIE ACCEPTED

The cash and transfer in specie accepted process is fully facilitated by our expert offshore support team.

PACKAGED MODEL PORTFOLIOS

Discretionary fund managers and Cat 2 advisers can create and distribute model portfolios.

6 INTERNATIONAL CURRENCIES

United States Dollar, British Pound, Hong Kong Dollar, Australian Dollar, Swiss Franc, Euro

NO MINIMUM INVESTMENT OR TERM

No minimum investment term or amount, however there is a minimum fee.

SIMPLE, TRANSPARENT AND EASY

Our fee structure is easy to understand, delivers real value for money and is fully RDR compliant.

SEAMLESS AND ELEGANT TECHNOLOGY

Fully digital with straight-through processing, the platform is supported by a dedicated team.

A TRULY OFFSHORE PLATFORM

No VAT charges on the platform or tax deducting within the portfolios. TAX reporting is still provided.

A BROAD RANGE OF CLEAN-PRICED FUNDS AND ETFs

Click here for the core fund list and here for the FSCA-approved fund list.

CASH AND TRANSFER IN SPECIE ACCEPTED

The cash and transfer in specie accepted process is fully facilitated by our expert offshore support team.

PACKAGED MODEL PORTFOLIOS

Discretionary fund managers and Cat 2 advisers can create and distribute model portfolios.

6 INTERNATIONAL CURRENCIES

United States Dollar, British Pound, Hong Kong Dollar, Australian Dollar, Swiss Franc, Euro

NO MINIMUM INVESTMENT OR TERM

No minimum investment term or amount, however there is a minimum fee.

SIMPLE, TRANSPARENT AND EASY

Our fee structure is easy to understand, delivers real value for money and is fully RDR compliant.

SEAMLESS AND ELEGANT TECHNOLOGY

Fully digital with straight-through processing, the platform is supported by a dedicated team.

What’s the value for you?

AS AN ADVISER

  • Unparalleled functionality, supported by an exceptional service 
  • Straight-through processing

  • Facilitated compliance with the Retail Distribution Review (RDR)

  • A range of fund and switch-between fund options

  • Monitored performance and periodic consolidated statements
  • A single, simple and transparent online account

  • Minimal administrative hassle

  • Bespoke, tax efficient and low-cost solution options for each client

AS AN INVESTOR

  • Competitive fees
  • Completely transparent costs
  • Choice of funds and currencies to suit your requirements
  • The ability to move between platforms without incurring costs
  • Portfolios and valuations can be viewed online and in real time
  • Simple to use technology
  • No minimum investment term and no minimum investment amount
  • Real, added value to your portfolios

What’s the value for you?

Avatar

As an adviser

As an adviser

  • Unparalleled functionality, supported by an exceptional service 
  • Straight-through processing

  • Facilitates compliance with the Retail Distribution Review (RDR)

  • Select from a range of funds and switch between funds

  • Monitor performance and receive consolidated statements
  • A single, simple and transparent online account

  • Minimal administrative hassle

  • Create bespoke, tax efficient and low-cost solutions for each client

Avatar

As an investor

As an investor

  • Competitive fees
  • Completely transparent costs
  • Choice of funds and currencies to suit your requirements
  • The ability to move between platforms without incurring costs
  • Portfolios and valuations can be viewed online and in real time
  • Simple to use technology
  • No minimum investment term and no minimum investment amount
  • Real, added value to your portfolios

Our Competitive Fee Structure

R

Simple

R

Transparent

R

Competitive

We’ve worked on pricing so as to improve transparency and competitiveness in the market, with a simplified administration fee.

In line with our commitment to superior service, our pricing structure is easy to understand, explain, and apply, and our competitive fees are clearly disclosed.

Where the currency is not USD, we use the prevailing exchange rate to calculate our charges.

Click here to view pricing guide

Offshore Pricing Guide

These charges apply as at May 2017 and are subject to regular review. Unless stated, percentage charges are taken monthly in arrears (with a proportion of the percentage charge taken in the first month) from the cash facility of the Product from which the transaction is undertaken. You can see the charges taken by reviewing your online history summary at any time.

ADVISER CHARGING

With this charging option your adviser can receive an initial charge of up to 5% of your investment and/or an ongoing charge of up to 2%. An ad-hoc charge of up to 5% can also be supported. These charges will be paid from your cash facility and shown in your transaction history.

PLATFORM AND ASSOCIATED ADMINISTRATION SERVICES

OUR CHARGE AMOUNT WHAT IT COVERS
Annual Service Charge

A percentage charge of the total value of your account. This is applied at the end of every month, based on the following tiers:

0.50% on balances up to $350K
0.25% on balances from $350K to $1m
0.15% on balances over $1m

One twelfth of this charge is payable each month and is subject to a minimum of $10 per month.

Providing the INN8 Offshore Platform Service in line with the terms and conditions.

Where you are holding currencies other than USD, we use the prevailing exchange rate to calculate our charges.

INVESTMENT SERVICES

Costs are incurred when investments are acquired. Investment managers take ongoing and sometimes an initial charge. You should read their literature to understand what these charges are. The following table highlights the charges for providing safe custody of assets, dealing in investments and obtaining special investment support (through a discretionary fund manager).

Our Charge Amount What it covers
Discretionary Fund Management Service Charge Guideline 0.3% - 0.5% of the amount under their discretion (depending on the DFM selected). For a DFM providing services.

EXCHANGE TRADED INVESTMENT CHARGES

Exchange traded investments include a range of securities listed on exchanges including shares (equities), government bonds (gilts) and investment trusts.

Our Charge Amount What it covers
Stockbroker Commission

UK Instruments* - 0.05% per order, subject to a minimum of £5 per trade.

International Instruments* - 0.08% per order (subject to a minimum of £10, $14, or €12.50 per trade).

Stockbroker commission charge for online trading. The charges are deducted by the Stockbroker from purchase amount or sale proceeds.

DUTIES AND LEVIES: STAMP DUTY OR SDRT

Our Charge Amount What it covers
Purchase of UK Equities

0.5% CREST settled (rounded up to the nearest 1p)

0.5% Non-CREST settled (rounded up to the nearest £5)

A PTM levy of £1 flat rate charge is applied on UK Equity transactions over £10,000

Duties and levies in place to fulfil an instruction to purchase a UK Equity. The charges are taken from the cash facility.
Purchase of Irish Equities

1% (rounded up to the nearest cent)

An ITP levy of €1.25 flat rate charge is applied on Irish Equity transactions over €12,500.

Duties and levies in place to fulfil an instruction to purchase an Irish Equity. The charges are taken from the cash facility.
Purchase of other Stampable Asset class Subject to Inland Revenue Rates To place and fulfil an instruction to buy or sell. The charges are taken from the cash facility.

* All charges are shown exclusive of VAT. As assets are held in the Jersey jurisdiction no VAT is payable by South African residents.

OTHER CHARGES^

Our Charge Amount What it covers
Foreign Exchange 0.07% To place and fulfil an instruction to exchange foreign currency.

^ In exceptional circumstances additional one-off service charges that are not noted above may also apply. We will confirm these charges to you before performing the task.

Investments Platform Service Fees
First USD 350 000 0.5%
Next USD 350 000 – 1 000 000 0.25%
Above USD 1 000 000 0.15%
Foreign Exchange Fee: 0.07%
FREQUENTLY
ASKED
QUESTIONS
FREQUENTLY
ASKED
QUESTIONS
Why should I use the INN8 Offshore Investment Platform?
South African investors are increasingly global in their mindset, and your clients are the same. The INN8 Offshore Investment Platform can provide you with a one-stop hub to create offshore solutions that enable you to fulfil your clients’ global investing needs

How does using the INN8 Offshore Investment Platform benefit my clients?

By offering a highly competitive, transparent, and world-class solution that helps you, the adviser, manage your clients’ offshore assets in real time.

Who do I contact to see a demonstration of the INN8 Offshore Investment Platform?
An INN8 platform expert will be delighted to demonstrate the Offshore Investment Platform. Get INN touch.

What help is available when I'm setting up a new client on the platform?
The INN8 On-boarding Team will assist you until you are comfortable with the core INN8 Offshore Investment Platform functions. After this, the INN8 contact centre will be available to help you with any questions or queries.
They can be contacted by:
Phone: +27 87 551 0899 (All calls charged at local rates)

What documents do I need to collect from my client to set up a new account?
We are required to validate the identity of all clients and connected parties in line with the global standards of customer due diligence.
The evidence required to validate corporate and individual client identities are detailed in the document called “INN8 Customer Due Diligence” located on the INN8 Offshore secure website.
How long does it take to set up a new client and how can I track their progress?

The client record will be created automatically on completion of their registration. Once satisfactory evidence to support their application has been submitted and customer due diligence checks completed you will be able to view the client record and transact on the client’s behalf. It is also at this stage that client monies will be applied to their platform account.

Under normal circumstances this will take no longer than two working days from submission of satisfactory evidence.

In the event of our Compliance Department referring the application due to high risk client indicators being identified, this process may take longer.

How safe is my clients' money?
All client monies and assets are held securely by BNP Paribas Jersey. BNP Paribas is a global provider of banking and custodian services. These assets and monies are reconciled to individual client holdings each working day.

How and when will my fees be paid?

Your fees will be paid within the first five business days of the next month, as long as your total fees due are more than the minimum threshold of $250. Where this is not the case, the fees will continue to aggregate until they reach the $250 threshold and will then be paid at the beginning of the following month.

What interest will I earn on the cash facility?

Our interest rate for all currencies (other than EUR, HKD and CHF accounts) is currently 0%, reflecting the exceptionally low levels that predominate internationally. Any negative interest costs incurred on Euro, HKD, or CHF denominated cash accounts held on the platform will be passed onto the holding client. This cost is an annual interest rate (calculated daily and based on a 360 day year) and consists of the Euro Overnight Index Average (EONIA) rate plus 0.30%. Any incurred costs will be debited from the client’s cash facility at the end of every month.

Technology
excites us.

Service
inspires us.

Making a difference
to your business
drives us.