Offshore banking is no longer the exclusive privilege of the rich and famous. Improved communication services, increasing competition and other factors have resulted in a huge reduction of offshore banking costs over the past few years. More and more individuals and businesses are turning to offshore banking for its obvious advantages. Why do individuals and businesses bank offshore?

• Privacy
• Higher Interest Rates
• Tax Efficiency
• Asset Protection
• Regulatory Advantages

For a detailed breakdown of these terms, please visit the What is Offshore page.

What types of services are available from offshore banks? The same as the services offered by most high street banks. Many of the offshore banks are subsidiaries of highly respected international banks, that everyone has heard of before. They have simply set up an offshore division or branch division within a tax haven to attract a share of the enormous international trade, and offer almost the same services as any domestic bank. Such as the following:

• Personal and corporate current/checking account
• Personal and corporate savings accounts
• Secure Internet banking facilities
• Debit and ATM cards, which are accepted globally
• Credit cards
• Loans
• Mortgages
• Investments & Asset Management

There are many websites that advertise offshore bank accounts, and they will charge anything from $400 to $1500 just for supplying you with the relevant application forms. There is an alternative to paying these huge fees.

If you require FREE information about offshore banking, please visit our Offshore Banks directory which has the website addresses for many of the main offshore banks. From these sites you can communicate directly with the bank and sometimes you can even download the application forms and save having to pay hundreds of dollars for this simple service.

For your information please note, that most offshore bank accounts have a requirement for a minimum balance in order to open the account, which can range from $100 to many thousands of dollars. There may also be an account opening fee charged by the bank, although there are many banks that do not charge this fee.

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