Know the advantages you can get if you open an offshore bank account.

How can you benefit from offshore banking?

Offshore banking carries a number of advantages for the depositors. The principal advantage is tax benefit. All the offshore banking locations are tax havens where low or no taxes are charged. In addition, you can immediately access your funds from anyplace in the world. Given below are some of the important advantages of offshore banking:

Security from political or financial imbalance 

Offshore banks offer access to financially and politically steady jurisdictions. This works as one of the most important advantages of offshore banking for those inhabitants in neighborhoods where there is a lot of political turbulence and risk of their properties being confiscated or frozen.

Special services

A number of offshore banks provide banking services that might not be offered by domestic banks like higher or lower interest rate loans on the basis of risk and investment prospects not available anywhere else and anonymous bank accounts.

Higher interest rates

Some offshore banking institutions might run with a reduced cost base and can offer higher interest rates than the legitimate rate in the home country because of reduced overheads and absence of government intervention. Supporters of offshore banking frequently describe government intervention as a type of levy on domestic banks, lowering interest rates on deposits.

Instant accessibility

By opening an offshore account, a depositor can instantly access his account from any location in the world and carry out global transactions without any difficulties.     

Tax benefits

This type of banking is frequently associated with other services like offshore trusts, companies or foundations that might have particular tax benefits for some depositors.

Higher confidentiality

These banks keep all your information strictly confidential so that you can bank without the fear of unauthorized access to your information.

Banking through various currencies

You can open an interest-bearing current account that offers flexible banking opportunities in any of the principal currencies like US dollars, Euro or British Pound Sterling. These are fundamental requirements for everyday banking.

Debit cards

Internationally acknowledged debit cards would be offered to you with cash withdrawal and global payment facilities. You can access cash from any ATM in the world.

Savings accounts 

A wide range of savings accounts with attractive interest rates is available in all principal currencies.

No matter where you are, banking offshore can provide you a global service that is always round the corner.