The requirements for opening an offshore bank account are as the same as applying for a bank in your home country. An offshore bank account allows you to move funds globally with a bunch of benefits, of which are the following:
1 Better Banking Experience and services
If you whine about banking with a bank that is providing the best services, then please consider switching to other banks. As a consumer or a company owner, you are entitled to receive the best banking experience, however, nowadays, most banks in the Euro Zone charge savers a fee for keeping their money in the bank accounts, thanks to the ECB’s ultralow interest policy. This, coupled with the recent closure of high street banks in Europe on the back of rising property tax (also known as Business Rate in the UK), has forced more banks to go online without providing any physical services in a bank in the high street. Most offshore banks assign a relationship manager to you should you wish to take on board as one of the Clients. They speak most languages and are able to assist with more in-depth personal needs of the individual, including finance, education, mortgage, retirement, and inheritance.
2 Political risk
If you are from a country where political uncertainty grips the outlook of your business, then please apply for an offshore bank account as soon as possible. The political risk includes a very fragile currency in the country where you do business or live in. For example, Turkey’s currency has gone down more than 11% in the last year, mainly due to a fear of sanctions by the US over its policy in the Middle East. Likewise, in Venezuela, inflation peaked at 9,586% in 2019, meaning the local currency is useless. More importantly, the Government has implemented a capital control system in place in a bid to stem any capital outflows. If you think about your future in the long term, you’d better look for an offshore bank account.
3 Ease of use and peace of mind
Having an offshore bank account gives you more options to use your funds in an effective way. Having said that you do not have to live under the capital control knowing that your children need some money to pay for education in a foreign country. More options mean that you have more retirement plans if you chose to retire in a foreign country. All in all, an offshore company bank account simply offers peace of mind within the family and business.
We Specialise in helping you with Offshore Banking all over the world. If you’d like to open an offshore bank account with us online, please click here to start the process. We offer online bank accounts for corporate and individuals in the USA, Hong Kong, Macau, Andorra, Switzerland, Mauritius, Singapore, Australia, New Zealand, the UK, Monaco, Liechtenstein, Bermuda, St Kitts, the BVI, the Cayman Islands and Antigua.