Top Six Reasons to Work Offshore

Benedict Roberts Benedict Roberts, Career Advice

Taylor Root’s offshore practice has been helping lawyers relocate to the Cayman Islands, the BVI, Bermuda, and the Channel Islands for more than 20 years. During that time we’ve heard all sorts of reasons why people want to make the move, but there are some that come up over and over again. Here are 6 of the most popular:

  1. Taking your career internationally

The Cayman Islands, Bermuda, and the BVI offer a genuine alternative to larger overseas locations like Dubai, Hong Kong, and Sydney when it comes to an international move. You’ll experience the same high quality international work but have access to a completely different lifestyle compared to living in another major city.

  1. City-style work with a countryside-style life

In the office, you’ll continue to work on major cross-border transactions or disputes. The real benefit of a move offshore hits you when you leave the office though: short commutes, beautiful scenery, hiking trails and sailing waters on your doorstep, the list goes on…

  1. Broaden your expertise

Offshore law firms are not divided into niche departments like their peers in the City, so joining one of these practices will add several extra strings to your bow. As a corporate lawyer, for example, rather than focusing purely on M&A transactions you might also find yourself dealing with fund formations, restructurings, and even some financing work.

  1. Dramatically shorter commute

The offshore jurisdictions are small places, so no matter where you live your office will never be too far from home. Aside from the fact that no one enjoys cramming themselves onto public transport in major cities like London and Hong Kong, shorter commutes allow offshore lawyers to fit more into their lives outside of work.

  1. Great for families

Every offshore location offers world class schooling, and in the majority of cases tuition fees are far lower than they are in the UK. On top of that, there is a phenomenal range of extra-curricular and weekend activities for children, from learning to sail, swimming lessons in the sea, mountain biking, sports clubs, or simply playing outside without you having to worry about them due to the strong sense of community and exceptionally low crime rates.

  1. Keep more of your income

While not the main reason to relocate, ultimately the majority of us work to support ourselves and our families so earning potential is always going to be important. All of the offshore jurisdictions have lower income tax rates than the UK – in Cayman you won’t pay any at all, in the BVI / Bermuda it ranges from 4.5-8%, even the Channel Islands – only a 35 minute flight from London – your tax bill will be cut in half to just 20%.

If any of these reasons resonate with you, or if you’re just curious about the impact that an offshore move could have on your career, please contact Benedict Roberts on benedictroberts@taylorroot.com