Options of Offshore Bank Account
The choice of an offshore bank account will depend on the main purpose of the offshore company the account is being created for. An offshore bank account that is best suited for the company will prove to be the most advantageous and beneficial for the future growth and development of your business. It is very important to choose an offshore bank account that will suit the particular needs of your company either in terms of asset protection or tax optimisation.
Offshore Bank Account. Choosing the right type of an offshore bank account
Most of the licensed financial institutions have a similar classification of the bank account options. Let’s look at the various types of offshore bank accounts you can create for your offshore business.
- Offshore current account. Usually created for serving business activities or private persons. Interest rate is usually at its minimum or is completely absent. A debit card is usually issued.
- Offshore credit card account. An account created when a credit card is issued and is used for recording various card transactions and payments of loans and credits. Payment for those is usually made from a current account.
- Offshore fixed deposit account. An account used for money saving purposes for a certain period of time with certain interest payments that are usually much bigger than of current account. The minimum amount is usually several thousands of dollars.
- Offshore private banking account. An account for a long term investment in securities.
- Offshore brokerage or investment account. An account that is usually opened in brokerage firms or banks specialising in this types of activities. This account is designed for current operations on the purchase/sale of securities through a broker. The minimum value of the account around ten thousand dollars.
- Offshore FOREX account. An account for conducting transactions in the foreign exchange markets.
It must be emphasised how important the right choice of a bank account is for the success of the business. The choice of an offshore bank account is better to be left to professionals.
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If you wish to open an offshore bank accounts our team will be happy to help you there and provide you with more detailed information, you can contact us at [email protected]
Offshore Bank Account
Related page: Offshore banks
