Skandia International has rolled out a new flexible offshore investment bond for UK expats in Spain.
Known as European Capital Account (ECA), the new has bond been redesigned for the Spanish expat market to meet the growing demand for a flexible savings solution.
The ECA serves as a flexible solution for investors seeking to save over the medium or long term.
The new offering will allow clients who plan to invest for at least five years to use a charge free withdrawal allowance of 10% each year, without triggering an early surrender charge, thereby offering investors easy access to money with the maximum potential for their investment to perform.
In addition, the new siltation will enable investors to access over 150 Spanish compliant international investment funds and defer when they pay tax on their savings.
By paying an initial amount of just £10,000 (15,000), investors will be able to make regular and ad hoc payments whenever needed. It will also allow clients to save money for retirement, education or any other financial goal.
Phil Oxenham, head of international proposition marketing at Skandia International, said: "We see a great opportunity in the Spanish market for a flexible investment solution which meets the evolving needs of expats living in Spain. The launch of the ECA means investors can benefit from greater choice and flexibility together with wider investment opportunities."