Foreign Offshore Bank Acount

An offshore bank account defined as an account which held in a foreign offshore bank. There are two form of account that can be established which are personal bank account or business bank account. However, control over multiple currencies in one bank account is also possible.

An offshore bank defined as a regulated bank that possess a banking license under international banking law. Normally, they are offer various types of accounts for individuals and corporates for instance checking (current) or saving accounts. Offshore bank takes place in offshore jurisdictions or offshore financial center such as Labuan, Mauritius, Seychelles, Nevis, and Belize.

For instance, one can incorporate a Labuan Company

One of the most important principle of offshore bank is not allowed to conduct any business and investment inside the country that they are established. Yet, it is still favoriting for foreign wealthy investors who are willing to utilize their services and set up oversea bank account.

In consequence, foreign banks are often providing better options than local banks in terms of products and services. For instance, some of the prestigious private banks offer services such as investment and asset management with a sensible return on your investment.