FAQs
Why Dublin?
Legal & General International was established in Dublin, Ireland, which has a proven reputation as a leading international Financial Services Centre. As an EU member state Ireland exercises strong regulatory controls. A wide range of leading global financial institutions have, over the past 20 years, been encouraged by the Irish Government to set up a base in Dublin’s International Financial Services Centre, resulting in a business friendly environment with an experienced workforce.Legal & General International (Ireland) Limited is authorised by the Financial Regulator in Ireland. If we are unable to meet our obligations to you, you may be entitled to compensation under the UK Financial Services Compensation Scheme.
What support is available?
Who should I contact?
The specialist Distibution Support Team is on hand to provide personal illustrations, bond valuations and product information.
For advice or technical guidance please contact your usual Wealth Development Manager or your local International Development Director.
Contact information is provided on the Contact us page.
What is your Online Valuations service?
Online Valuations will let you view online information on the fund value of your client’s policies. As an IFA, you will be presented with a list of your clients, or you can search your client base for a particular account. The site will let you view summary details of that policy, including the fund’s current value. Finally, the system will let you choose the dates between which you would like to generate an up to date Transaction Statement. The statement will be viewable using Adobe Acrobat and can be printed, emailed, or saved to your computer. Online Valuations can be accessed via the link of the same name in the sidebar.
How do I register for Online Valuations?
Legal & General International’s Online Valuations service is available only to registered users. To access the site, you must be an IFA who has sold a Legal & General International (Ireland) product. If you would like to register for the site, please contact our Distribution Support Team in Dublin. Contact details are on the sidebar to the right of this page.
Is my client eligible for an international bond?
The product is currently only available to residents of the UK, Channels Islands and Isle of Man.
Are anti money laundering requirements the same as in the UK?
No. The identity of each applicant must be verified using two documents. One document to confirm the applicant’s name, and another document to confirm the applicant’s address. Legal & General International requires sight of both verified documents.What is the reference number needed to TT money for a bond?
The reference can be anything that will help us to identify the client's money on a bank statement for example name and date of birth.
What is the Transaction Account?
Every bond investment will have its own Main Transaction Account. This will be created in the currency of the bond. At the start of the bond you will have a choice of Bond Currency. All transactions, including the purchasing and selling of assets, charges and withdrawals, will be credited or debited through the Main Transaction Account. Additional transaction accounts will be created for other currencies when assets that are not denominated in the Bond Currency are purchased. A more detailed explanation can be found in the literature entitled 'Investors guide to the Transaction Account'.
How much should I put in the Transaction Account?
There is no mandatory holding, although enough to cover two years’ charges are recommended. Interest earned will be 1.25% below the relevant currency base rate ($, £, €).
Where is the reduction in yield on the quote?
The reduction in yield figure is available on page 3 of the quotes under the heading 'What are the deductions for?' You should quote the figure that is a percentage per year after 10 years.
What taxes are paid within the fund/bond?
Legal & General International does not pay any capital gains tax or income tax in Ireland on investments held on behalf of its investors. Therefore, investment gains are allowed to accumulate free of these taxes. Some assets in the bond may be liable to withholding tax. This tax is income tax deducted from dividends and other income from overseas based investments. It is deducted at source to ensure that it does not leave the country of origin without being taxed.
