OFFSHORE BANKING

DEFINITION, BENEFITS &

OFFSHORE ACCOUNT
TYPES
 OFFSHORE BANKING

Offshore banking is simply a term used to refer to

the use of banking services in a foreign jurisdiction
outside of the country where one resides.
WHY USE AN OFFSHORE BANK?

1. Offshore banking provides a number of benefits that can not be found in

your regular domestic banking system. 
2. Offshore accounts offer a wealth of opportunities as an insurance against
the negligence of an irresponsible banking system that has overextended
itself by having low interest rates, poor capital reserves, and mountains of
debt practically making many banks insolvent.
3. Banking in an offshore jurisdiction reduces your risk while increasing
your financial freedom giving you flexibility and protection of your assets.
OFFSHORE BANK ACCOUNTS

Personal Account Vs. Corporate Account

There are a few reasons why this is recommended:
1. Corporate Accounts Are Easier To Open Whereas Personal
Accounts Can Be More Difficult.
2. A Corporate Account Provides Much Greater Protection And
Privacy.
3. There Can Be Tax And Income Advantages.
OFFSHORE BANK ACCOUNTS

Offshore Investment Account Vs. Transactional Account

• Investment Accounts
Generally, give one greater access to a wide range of investment and
trading options.
• Transactional Accounts
Transactional accounts on the other hand, are better for those who
require daily transactions.
OFFSHORE BANK ACCOUNTS

Remote Account Opening

Certain jurisdictions and account types lend themselves more
to opening an account remotely (e.g. Belize), and in certain
situations, it may be more practical to open an account remotely
(if, for example, you are only opening a small account; it may
not be financially viable to travel all the way to the country of
choice).
THE BEST WAY TO STRUCTURE YOUR
OFFSHORE BANK ACCOUNT
Factors that will determine the best place to open an offshore bank account would be:

What is your initial deposit?

What type of account do you need?
Where do you live and what passport do you hold?
What type of financial services do you require?
What is the purpose of the account?
What are your tax obligations?
OFFSHORE BANKING BENEFITS

1. Higher Returns in International Investments

2. Economic and Political Stability
3. Generate Higher Interest Rates
4. Foreign Banking Systems Offer Security
5. Diversify Your Wealth
6. Higher Liquidity
7. Hold Multiple Currencies
8. Asset Protection
9. Account Confidentiality