Offshore banking is not as complex as it may seem. Many people consider it to be something for the very wealthy, but in actual fact it is more accessible as you may think. The majority of offshore banks provide their customers with increased privacy, greater financial freedom and more security than domestic banks, making them a viable option.
An offshore bank is simply that, a bank which is located outside of your resident country. Furthermore, it is not restricted to small countries such as Cyprus or the Caymans, there are many offshore banks throughout the world in countries such as the Netherlands, Belgium and Switzerland. Every country has its own regulations which determine how the banks are managed and they all feature a regulatory environment which helps maintain the security and safety of the banks.
There are many benefits to banking offshore, with one of the most popular being that of privacy. Offshore banking regulations keep the details of their clients in the strictest of confidence unlike many domestic banks where details of bank account holders are very easy to obtain. Another benefit is the stability that offshore banks can bring.
Some people believe that the process of obtaining a bank account is a long, drawn out and hugely complicated process which is only for those who can afford costly legal representatives to set up their accounts. However with the introduction of the internet, obtaining and monitoring an offshore bank account has never been easier.
Offshore accounts are now accessible by any adult, simply by contacting a suitable introducer. The services offered by offshore banks can now be accessed by everyone. If you are looking to establish an offshore bank to accompany your newly formed offshore business, we can help with the right advice and information so you can make an informed choice.