Offshore Banking Considerations

The best offshore bank account for you will depend very much on your personal circumstances and account requirements - for example whether you are looking for a bank account, tax solution or an asset protection plan. If you need advice make sure you get independent assistance and always do full due diligence before moving your assets to an offshore bank's account.

* Any banks you consider should be located in a secure offshore jurisdiction where they are subject to the regulation, supervision and licensing of an independent statutory body. This is necessary to ensure the security of funds placed in an account;

* You should be sure that the particular offshore bank you are interested in has a reputable parent company, good reputation and history.

* There is much difference in account costs and transaction fees, but many people do not look at fee structures when opening bank account. This information always remains available to the customers.

* Offshore bank accounts usually come with extra account options and features such as the ability to conduct transactions in more than one currency, etc., and they are often more expensive than current accounts in local banks. If you do not need so many extra features, yo can obtain the cheaper variant of the offshore bank account excluding extra features you do not require.