Arriving at a decision to uproot the safety of your (and families) current life and move to a foreign country, is daunting. Moving house, or changing jobs domestically is a significant change in ones life, to do it at the same time whilst relocating to another country is definitely not for everyone. It takes a certain character to leap into the unknown, moving to another country, another culture, another professional challenge is a rewarding experience in so many more ways than can be imagined. Our consultants have been there, done that. They know the apprehension, the fears and will draw on their own experiences to provide you with the information to placate your concerns.
Why use a specialist Offshore Recruiter?
Trying to establish just what the offshore business model is can be difficult. The fact of the matter is, the offshore world is successful because of the services, quality of those services and an international trading perspective they bring to the world financial markets. For a variety of reasons these can be provided more efficiently offshore.
As a specialist offshore recruiter we are experienced in the markets and can alleviate some of the mystery surrounding the jurisdictions, their primary operations and some of the positions available for qualified individuals. We also have knowledge across the companies within each market, and what it is these companies do in relation to the jurisdiction specialty. Combined with having lived and worked onshore, it makes an offshore specialty recruiter perfect placed to ensure you find a new position that is matched to enhance your career in a beautiful new location.
Why Offshore Accounting & Finance?
We are Specialists
Our sole focus is the placement of talented Accounting & Finance professionals into a niche of offshore jurisdictions. We believe having a boutique product allows us to excel at what we are good at. It is about expert knowledge, of the candidates skillset and the companies operations to ensure we get this correct. Our business model depends on it.
We are Different
Your consultant is a qualified finance professional, having chosen to become a specialist finance recruiter. Specific knowledge of both sides of the fence, ensures we are perfectly placed to understand both the hiring firms requirements, and the candidates skillset and desires.
Knowledge of living offshore comes from experience. Our consultants have been through the recruitment process themselves, and lived the life provided offshore. It means we can draw on these experiences and provide you with comfort through the recruitment process.
At the end of the day, we have been there, and done it. We have moved from onshore to offshore, we have lived in the communities, we loved the experience and the opportunities both professionally and personally the move provided. Our knowledge ensures you have the necessary information at hand throughout the process to make informed decisions.
Let us help you make the right decision, because they are too important to get wrong!
Generally speaking, a move offshore provides an increase in disposable income. However, this should not be the sole determining factor to move offshore, as it’s a more than a change of job, it’s a change of life. Some of the other considerations that may be required:
Is there an increased work / life balance?
Is the jurisdiction family orientated? Is there a single lifestyle?
How is the sailing?
Where’s the best diving?
Which provides the best opportunity for international travel?
Candidates generally have a jurisdiction preference, but quite often this can change throughout the process. This can be due to a myriad of reasons, from the focus of work within a specific jurisdiction, the social context or the simple fact the package doesn’t work for a family of five. What we do recommend is to keep your mind open to the various jurisdictions. Each has their own positives, with our experience finding those that are flexible on location more likely to find a more suitable position in a shorter timeframe.
We are here to help you make the right decision!
Upon application, a qualified finance professional will review it to ensure your qualifications and experience are appropriate to the specific offshore role applied for, or others that we may have open at that time. Should your attributes be appropriate, a consultant will call you to conduct an initial consultation. This is largely an opportunity to introduce each other, discuss roles on offer, the jurisdictions themselves, the process moving forward and any initial questions you may have.
It is important to note here, due to jurisdictional criteria for working visas the applicant must be a qualified professional (ACA, CA, ACCA, CFA) from countries whose accounting/finance bodies have reciprocal arrangements with the offshore jurisdictions. Namely Australia, Canada, Ireland, New Zealand, South Africa, UK and USA.
If you do not fit the above criteria, regretfully we will not be able to assist you due to the inability to be able to obtain a work permit.
CV Preparation Assistance
Our clients are receiving CV’s more than ever before, sometimes hundreds for a single position. Your CV is the first chance to make an impression, and hopefully progress to the interview stage. Having sent literally thousands ourselves, we have identified the format and content which firms prefer and expect to see. Offshore firms generally look for slightly different information, possibly varying from firm to firm. We can assist with the tailoring of your CV accordingly. Click here for CV writing tips regarding presentation and suggested content for offshore roles.
In addition to our CV guidance, we are fully equipped to give you the best possible preparation for interviews. Due to geographical locations, the interview process varies when applying for offshore roles. A lot of firms conduct the various stages of the interview process purely by telephone, although the usage of video conferencing within the process is increasing. With an executive position, candidates may be invited to visit the company as part of the final interview. More often than not this is a final confirmation upon all but receiving the job, an inexpensive way to ensure an obvious mistake is mitigated.
The number of ‘steps’ through the process can be as equally varied. It’s not unheard of for a candidate to receive an offer after one phone call, equally there could be six or seven stages of interviewing. This is not to be of concern, with interviews tending to be more relaxed than onshore. We are generally able to give you valuable insight as to the personalities and interview style of the people you will be speaking with. Click here for interview tips relating to offshore roles.
Remuneration Advice & Negotiation
A large percentage of candidates who move offshore do so for the opportunity of significantly better salary and benefits coupled with low income tax. It is not uncommon for an accountant or finance professional to double or triple their net income. However, there can be a lot of misconceptions regarding the size of offshore remuneration packages, leading to unrealistic expectations. From the outset, we work with you to understand your skillset and experience to provide a realistic remuneration range to expect.
Offshore firms often employ differing and complex salary structures. An understanding of which is important for you to calculate the real earning potential of any offer you receive. In addition to the low or zero tax environment the offshore world provides, an understanding needs to be garnered over the value of the package as a whole. As a minimum, these generally include:
- Relocation expenditure, inclusive of flight and excess baggage;
- Welcome package, inclusive of initial accommodation and car hire;
- Health Insurance.
It is important to understand with the inclusion of health insurance within the package, its intrinsic value is higher than onshore because there is no public health service provided for expats locally.
Being offshore specialists provides us with the experience to advise you on the varying elements that comprise the total overall package, and to ensure you receive the best possible total remuneration package.
Generally all contracts will be for an initial term of 2 years. Firms incur quite an expense when hiring a new employee, namely relocation expenditure, work permits and the specific roles training. To make the investment worthwhile for them, a two-year contract is required. It seems a long time, but from personal experience we can advise that time really does fly when you are having fun and before you know it, like a high percentage of others, you’ll be looking to sign up again!
All foreign nationals generally require a Work Permit/Visa to enable employment within the Offshore islands. These vary slightly depending on Jurisdiction. It is important to note two main points here:
Channel Islands, holders of European Union passports have the right to work, and UK work visa holders in most cases
Caribbean Islands, all foreign nationals require work permits. Despite the fact an island may be a British Overseas Territory, British nationals still require a passport.
Please refer to the Jurisdictions pages in order to establish further location specific information.
Within ones career, it is not only important to excel within your skillset, but to also differentiate yourself from others with a similar skillset to yourself. In combination with the usual expectations within an onshore role regarding Professional Development, an offshore finance role can help diversify and internationalise your skillset to enhance your career. It really is more than just a new job in a change of scenery.
Some of the benefits:
- Obtain practical experience in a recognised financial services centre;
- Work within an international organisations offshore operations, providing an insight into an international company and networking opportunities for future career progression in other international jurisdictions;
- Work with international industry leaders, having access to learn from their international skillset and the influences into their local decisions;
- Gain practical working knowledge of the interaction of various international jurisdiction legislations, an example being IFRS and US GAAP. This skill in itself can be a real niche should you choose to move to a large onshore financial services centre in the future;
- Opportunity to attend, and in some cases present at international conferences regarding the local jurisdictions specialty held within the jurisdiction.
Staff turnover is a part of the landscape in the offshore world, providing numerous opportunities for those eager to advance their career. Generally the turnover is due to those whom return to their country of origin, or leverage their enhanced skills/experience to move onwards to another financial services centre. This natural characteristic provides numerous opportunities throughout all levels of organisations, with real possibilities to advance further and quicker in a top level international organisation than what may lie onshore.
Firms recognise the requirement of professionals personal development requirements to maintain their skills, and professional bodies membership status. Firms actively encourage the attendance to international conferences that are often held on island, which vary according to the jurisdiction for ex. Cayman it’s likely to be Hedge Funds oriented. The training tends to be very internationally focused due to the nature of the operations on the islands, somewhat different to what you may of experienced onshore with a domestic focus whilst possessing an international awareness, rather than application.
A move offshore is more than just a lifestyle change, it really can diversify your skillset and enhance you career progression.
Honesty is the best policy
At Offshore Accounting & Finance, we believe that honesty is the best policy.
We are upfront, honest and constructive in all our dealings.
We believe in discretion, aware most of our candidates are still currently employed.
We believe in confidentiality, it is company policy that your details never be sent to a prospective employer without your prior permission.
Whether you would like to start the journey to begin an Offshore move, or like help with some general advice, we hope that you choose to contact us to see how we can help you.