Understanding offshore banking

Offshore Banking

Offshore Banking

Simply stated, an offshore bank is a financial institution located in a country that is not your country of residence. Offshore accounts are not governed by the laws of the country you live in but by the laws of the offshore jurisdiction where they are held which can translate to financial and legal benefits for offshore bank account holders. These benefits include no or low taxation on interest, increased privacy, higher interest rates, easy access to your funds and protection against political or financial instability in your country of residence.

Offshore banking is convenient and beneficial to many people for a range of reasons. People that live or work internationally, frequent travellers or people that travel for extended periods of time can access their money anywhere in the world with an offshore account. They can earn money in one country and pay their bills in another quickly, efficiently and securely. Expatriates, jetsetters and international business people, all benefit from offshore banking.

There is a vast financial universe that is generally only accessible with an offshore bank account. It opens up investment opportunities in many different countries with fewer restrictions, fees and taxes. An offshore bank account can be opened in a number of different currencies allowing you to select the currency you require or use most frequently while saving on exchange rates. With an offshore bank account you can invest in bonds in Malta, on the SIX Swiss Exchange, in offshore mutual funds or Swiss gold.

An offshore bank account allows you to trade mutual funds, bonds, stocks, currencies and metals privately anywhere in the world. Your investments and savings have a greater chance of remaining healthy in an economic downturn if you have diversified your investments around the world in a number of different currencies. Offshore fund managers have the ability to tap into a greater variety of markets all around the world and have access to flexible investment techniques. An offshore account allows you to make acute investments, diversify your funds and receive higher returns.

No Comments yet »

RSS feed for comments on this post. TrackBack URI

Leave a comment

XHTML: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>