Banking offshore gives you the opportunity to grow and protect your money in a secure and central location, so you can keep your money in one place while you move around the world.
Banking offshore also makes it easier for you to manage your finances in multiple currencies across different countries/regions.
What is offshore banking?
Offshore banking simply means you have a bank account in a location outside the country/region you're living in. This location is usually a low-tax jurisdiction.
Why bank offshore?
Most expats have a bank account in their home country/region to manage financial commitments like property payments and school fees. You also need a bank account in the country/region where you're living to cover things like your rent, utilities and shopping. Banking offshore provides a link between all your banking arrangements, giving you easy international access to your finances and a central home for your money.
What are the main benefits of banking offshore?
Convenience – maintain the same international bank account, no matter how many times you cross countries/regions
Choice of currencies – a wide selection of multi-currency savings to help you grow your wealth
Expertise – specialists who can help you choose the right foreign exchange solutions
Tax efficiency – banking offshore could be a tax-efficient way to manage your money
Our HSBC Premier website has further information that could be of interest.
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