Globaleye.com

Choosing the right bank account can be a daunting process when placing your money offshore. The main reason for going offshore in the first instance is to enjoy the tax-free returns, the high level of investor protection and for some the most important key factor – confidentiality. However, with the news of the EU Savings Directive taking effect in July 2005, it is imperative your get your Offshore Banking solution done correctly. Onshore and Offshore Banks are fairly similar broadly speaking but it is their confidentiality that sets them apart from their onshore counterparts.

Confidentiality offers the international investor an environment where he can manage his affairs in the most efficient manner possible. It is likely that you require a local account in the country in which you live for day-to-day or business costs. However, the bulk of your capital is better served offshore. Most accounts have the same facilities like Visa, DD or standing orders etc but you should be careful on your selection for business services. When you are an expatriate or you have overseas business interests it makes financial sense to place your funds offshore and finding the right bank or building society requires effort.

There are many banks touting for your business so it pays to get the best deal possible. Some have representative offices in the country in which you live that you may find beneficial. Others have on-line facilities that give you a real time picture of your finances. You may want to use the offshore version of your onshore account or a bank that will offer you mortgage facilities in the future for overseas property purchase.

Furthermore, we have access to banks that will provide gearing facilities on portfolios and offer asset backed finance for overseas property purchase and yacht finance.

If you have funds that require an offshore safe haven and you need some guidance with regards to how the EU Savings Directive will affect you, then we invite you to find out more by contacting us. We can introduce you to offshore banks that will cater to your needs and help with the process of your application. Moreover, if you do not know how the EU Savings Directive will affect you if you return to the EU then contact us as soon as possible. You could be hit for up to 35% in with holding tax if you are unsure.