Offshore bank account: the financial centres
An offshore account is opened in an international financial centre, often by non-residents seeking a strong currency, legal stability or international management. Here are the centres covered on the site.
A now transparent framework
Offshore centres now apply international standards: identification of beneficial owners, evidence of the source of funds and automatic exchange of tax information. An offshore account is legal, but it must be declared in the holder’s country of residence.
Banks in these centres often require a high minimum deposit, bank references and a clear explanation of how the account will be used.
Who it is for
It mainly suits expats who move often, international entrepreneurs and substantial estates. For everyday needs, an account in the country of residence or a European online bank is usually simpler.