For many years, offshore banks were only for the elite – those who manage extreme wealth, and international corporations. However, a variety of factors have made it more amenable for individuals and companies of all kinds to open an offshore bank account, including:
You don’t have to be an international titan of industry, a jet-setter or a billionaire to establish and benefit from an offshore bank account. There are many reasons to bank in an offshore jurisdiction:
Asset Protection
Protect your assets – art, antiques, cars, boats, property, cash, investments – from lawsuits, bankruptcy, divorce settlements.
Taxation
Offshore jurisdictions offer low- and no-tax structures that help you maintain your assets for generations to come.
Privacy
Whether you open a standard account, a corporate account or an anonymous numbered account, offshore banks are fiercely proud of their commitment to confidentiality of their customers and their accounts.
Asset Consolidation
If your investment portfolio, business transactions or other bank accounts are spread out all over the world, an offshore bank can provide a useful way to centralize your assets while benefiting from offshore tax structures.
And so many more. It really depends on your or your company’s current financial situation, your goals, and the kinds of services you’re looking for. If you’d like to know more about what offshore banking can do for you and your bottom line, please do not hesitate to contact us.