People who find themselves overseas on business on a regular basis may wish to consider diversifying their investments, one expert has claimed.

Rhiannon Davies, director of Shelter Offshore, explained that overseas investments could benefit people in this position.

She said: It can make sense for such individuals to take an international view of their banking and finances .

Ms Davies added that people who are resident overseas might be able to avoid paying tax on their investments, but that overseas accounts still offer benefits for UK residents who travel a lot.

Such accounts are often a lot more flexible in terms of access, they may allow for fee free international transactions too, she added.

People who were considering overseas investments for their pension fund should look to see what tax incentives they can obtain, she concluded.

According to a BBC report, around UK citizens hold a total of around 400,000 offshore accounts in places such as the Isle of Man, Guernsey and Jersey .