Many Americans look to offset the destructive effect of inflation by obtaining the highest interest rates in the US that they can find. In theory,
How to use international & offshore bank accounts to make more money while reducing risk & expenses...
In this article, you're going to get a how to guide for making money with international & offshore accounts-- including the best tools, products, and rates available to anyone.
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If you want to make money with offshore & international accounts you need to know which banks have the best products, offer the best rates, and will actually open accounts for you without wasting your time or money.
And since you’re on this page, you probably interested in answering all these questions!
In this article, we’ll do that and also help you identify banks that are financially sound, operate in stable jurisdictions, and offer better security over your money.
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Enterprising individuals will always find ways to grow their wealth irrespective of the market conditions. It’s a fact.
There are people that make money in good markets and bad markets, to them it doesn’t matter.
And a key strategy that pretty much everyone uses to increase the value of their wealth during times of volatility is diversification.
Diversification can mean a lot of things. And depending on how you’re looking at the world, it can mean investing in real estate in the next neighborhood or investing in a stock market in a far flung country.
But the principle is always the same. You want to make sure that if something bad happens where you are, it’s not going to impact everything you own, or all of your wealth.
For decades, wealthy families have been taking this basic principle of diversification and applying it to their bank accounts.
In doing so, they have not only gained access to a more diversified and insulated store of their wealth, but they have also gained access to better returns on their money.
With a captive audience wiling to accept mediocre returns across Europe and the United States, banks don’t have to compete for clients. They simply pay the lowest rates possible and still attract depositors.
Compare that to offshore banking jurisdictions. You can get 10x the return on a simple term bank deposit.
The best part? It’s going to be deposited at a bank that is significantly better capitalized and better managed than any of the banks that your friends are dealing with back home.
This is just one of many examples of how enterprising individuals use offshore bank accounts to help increase the value of their wealth.
And at GlobalBanks, helping Insiders find opportunities to get more from their offshore bank accounts is a big part of what we do.
Read on below to discover how you can get better returns by exploring opportunities outside of your home country with offshore banking.
If you’re ready to start taking action right now, access our free offshore banking report below and start growing your wealth.
When it comes to banking for business, finding the right bank account can reduce costs, offer you better security, and provide a wider range of banking services.
That means your business’ money is safer, more accessible, and ready to support you and your business when you need it most.
While there are banks to choose from in every country, certain banks are better suited to your business needs than others.
And many of the best options can be found in international & offshore banking jurisdictions, not developed western countries like the US, Canada, or in Europe.
But it’s not all sunshine in international & offshore countries either…
This is especially true if your company is from an offshore or international jurisdiction!
International regulators are putting increasing pressure on such companies, making it very difficult for them to open accounts.
This means that good people with legitimate businesses are being stonewalled and forced to stay local — making it impossible to do business overseas.
In fact, the new rules of the banking world have become so overbearing and expensive, that banks have just started rejecting new customers altogether.
Fortunately, there are solutions and a range of international and offshore banks for businesses to choose from. You just need to know where to look and how to choose the right banks.
But choosing the right banks also means knowing which specific benefits you’re trying to capture for your business…
We could write an encyclopedia on the benefits that businesses can get from offshore & international banking… it’s a huge subject.
So instead of going into the nitty gritty details of every single benefit, we’re going to cut to the chase and talk about the most important benefits that your business can immediately start benefiting from.
In this section, we’ll talk about the benefits and how you can get them through offshore & international accounts…
If you run a business that has any cross-border operations or deals with other currencies, having an offshore bank account can be of immense benefit when it comes to managing costs.
An offshore or international bank account helps businesses keep costs down by making funds available in their operating currencies. It decreases foreign exchange rates, transfer costs and has the additional advantage of removing foreign exchange charges.
For example: If a Canadian company that banks in Canada needs to pay US dollars for business expenses and the CAD plummets against the USD, the Canadian company would have to pay considerably more for those expenses.
So while the Canadian company may have a USD account at its Canadian bank, Canadian banks also have unfavorable currency exchange rates and fees. Because, hey, they can do that.
If, instead, the Canadian company had opened a USD account at a US bank (an offshore bank account), they could reduce their currency risk, achieve favorable exchange rates from USD to CAD, and enjoy the USD appreciation against CAD.
Every day, this exact scenario plays out for businesses engaged in cross border business!
Those owners that take the time to identify banks with the best rates for their operating currencies will save money and protect their businesses from currency fluctuations.
Although banks in onshore jurisdictions (like your home country) are less likely to welcome clients in high-risk industries, it’s not uncommon for offshore & international banks to be more open to high-risk businesses.
In fact, as you start to explore offshore banking further, you may discover that certain jurisdictions actually cater to specific high-risk industries.
For example: Businesses engaged in online gambling might look to Cyprus, Malta, or the Isle of Man for account opening. These are jurisdictions that deal with, and therefore understand, gambling businesses.
On the other hand, crypto millionaires flock to jurisdictions that are comfortable with crypto as a source of wealth. This is especially true if they allow for transactions with crypto exchanges.
High-risk businesses might find Mauritius more accommodating to their banking needs.
And those in adult entertainment, gaming, cannabis, pharmaceutical products, and high-volume Amazon FBA businesses might be attracted to different banking jurisdictions altogether.
Why does this matter?
Because, by choosing an offshore banking jurisdiction that understands your business type you are less prone to account closures and freezes.
This is because the bank and bankers will understand your industry and are comfortable dealing with individuals engaged in such business activities.
If you do business internationally, protecting yourself against currency swings is important and makes good financial sense.
You can protect yourself from currency risk by having an offshore bank account that allows you to hold multiple currencies affordably.
In addition, having the ability to hold and trade different currencies can also protect your money from political and economic crises.
But the benefits of offshore banking and bank accounts extend beyond these advantages.
In fact, diversifying your currency holdings can reduce expenses, give you access to emergency funds abroad, and protect you from unpredictable currency swings.
Unfortunately, holding foreign currencies in a domestic bank account can be expensive. And if it is affordable, the currencies they offer will often have the same risks as the local currency.
With this in mind, one of the best ways to access cost-effective currency diversification is through an offshore bank. In most offshore banking hubs, you can choose from a wide range of international currencies, from major economies to developing markets. And you can hold them much more affordable than in your home country.
In fact, it’s not uncommon for offshore banks to offer multi-currency accounts by default. That means you can hold a variety of currencies for free. Many times, you can hold up to ten or more currencies with a single offshore bank.
This not only reduces your risk but also increases the opportunities you get from being able to quickly act when you see opportunities or risks on the horizon.
Opening a bank account for a business that is registered abroad is becoming increasingly difficult. Yes, account opening for a large and established foreign company is easy. But, it can be incredibly difficult for startups, small businesses, and international entrepreneurs.
For instance, banks in your home country might refuse to open accounts for foreign companies. Or, if they do, they may require the foreign company to jump through a lot of expensive hoops.
One of the benefits of offshore bank accounts is that banks abroad are more familiar with the banking needs of foreign companies, non-residents, and international businesses.
As a result, offshore banks are often a great solution for any business. Especially those that are struggling to open a bank account at home.
Here are some of the main reasons why foreign banks are beneficial for international businesses:
The need for asset protection has never been higher. This is especially true if you’re engaged in any kind of business or professional service.
But it’s not just professionals that need to protect their assets. There are countless reasons why someone can sue you or your business. So the need for asset protection extends to absolutely everyone.
Fact: If you keep 100% of your assets in the same country where you live and work then you’re exposing yourself to serious (and unnecessary) legal and financial risk.
While there is no such thing as 100% protection, a foreign bank account can help make you a less attractive target for litigation, help diversify (and grow) your assets, and minimize risk. In fact, without an offshore bank account, you’re exposed.
And your assets aren’t just at risk when one of the above claims goes through. In the US, or in any litigious country, it’s easy for an overzealous judge or official to freeze and seize assets before adequate due process. That’s very difficult to do if all your assets are in a foreign country.
Asset protection is a major benefit of offshore banking. By simply opening a bank account in a foreign country, you can legally protect yourself from overreaching governments, ambulance chasing lawyers, frivolous lawsuits and acquisitions, unwarranted account freezes and seizures, and the long arm of the law at home.
Plus, you ensure that you’ll always have cash available to protect yourself when you need it most.
Unlock 37 secrets that will start growing your money right now!
If you’re ready to start benefiting from the offshore banking world and accessing better products & higher rates then the next step is to open offshore bank accounts.
It’s important to understand that you’ll undoubtedly face some issues when opening accounts to access higher rates and better products.
The world may be more linked than ever before, however, regulations are increasing and opening accounts is becoming much harder.
In fact, today, banks are unable to keep up with the ever-increasing demands of regulators and the increasing compliance burden that they’re being asked to carry.
The problem is that most people don’t know the new rules of the game.
It usually goes like this…
They go in blind. Choose the wrong bank. Carelessly slap together application answers. And don’t take the application process seriously.
So they don’t understand the bank’s sensitivities, likes and dislikes, account opening quirks, or the best strategies to use.
And what’s the end result?
Their application to open a bank account get denied!
As a prospective client at a bank, it’s your job to make the bank comfortable and convince them that they want to serve your needs.
After all, whether you’re opening a bank account or sitting down at a restaurant, everyone appreciates a client that is easy to serve.
To access the best returns, best products, and higher rates, you need to be pragmatic. Understand the system and the players.
Work with bankers and make life easy for the compliance team. Make it easy for them to “tick” their boxes. After all, they’re not the enemy. They’re just trying to do what regulators tell them and avoid being penalized.
In other words, don’t go into the process thinking you are entitled to a bank account and that the bank you choose will automatically accept you– they won’t!
Certain branches might cater to certain industries, prefer certain client types, or require particular minimums.
Knowing your bank and branch’s preferences and sensitivities beforehand is key, especially if you’re not planning to make an initial six-figure deposit.
In other words, unless you know which banks and branch (and even banker) to speak with, you could very quickly find yourself wasting a lot of time and money trying to open an account.
So you need to prepare carefully and strategically before setting foot in a bank or interacting with bankers.
You need to clearly understand your banking goals. And you need to know the benefits that you’re actually after.
That means you need to be aware of the risks and disadvantages of the bank, bank account, and more.
You know, those little, hidden “cons” that no one talks about– like hidden fees, internal policies, restrictions, and compliance quirks.
And that’s where we come in…
Over the years, we’ve seen a growing number of banks in traditional banking jurisdictions making moves to meet the needs of clients from around the world.
These international and offshore banks often tailor their offerings to appeal to the very unique needs of clients looking for higher rates and better products.
But it’s important to note that the country you choose to bank in is as important as deciding where to live, or where to buy an investment property.
You wouldn’t buy a house or move your family to a war-torn neighborhood. So don’t put your money there!
That’s why our analysts have spent thousands of hours analyzing banks, speaking to bankers, digging through paperwork– all to identify the best banks and countries for you to open accounts!
We talk to bankers, regulators, compliance officers, economists, advisors, and, of course current customers to understand what’s really going on behind closed doors, inside of the world’s most secretive industries.
Through our research, we’ve discovered several banks in multiple jurisdictions that are hidden gems and will open accounts from pretty much every country.
Yes…opening an international or offshore bank account can be complex. But, we’re going to simplify it for you.
We do this through our premium membership, GlobalBanks Insider.
GlobalBanks Insider provides you with everything you need to instantly access the international & offshore banking world– without middlemen or paying useless service providers.
If you’re not a GlobalBanks Insider and you’re ready to start opening bank accounts, you’re only a few clicks away from having all the information and tools you need at your fingertips.
When you join GlobalBanks, you get instant access to our entire archive of Banking Intelligence Reports including proven strategies for opening business accounts all over the world, contact information for specific banks and bankers, details on bank preferences and sensitivities, customer case studies, and information on what not to do.
If that wasn’t enough, you’ll get access to the GlobalBanks Database which includes easy-to-digest bank profiles, analyst insights, account opening contacts, and unique opportunities for over 250 banks in 50+ countries.
PLUS, you’ll also get real-time analyst support through chat and email, and get answers to your most pressing banking questions.
The only question is, are you ready to start opening accounts?
Click below to learn more about GlobalBanks Insider and to see all the tools you will immediately access. And how you can use them to open accounts!
We help you every step of the way.
Get access to the tools, intelligence, and key contacts you need to instantly access the offshore banking world, open bank accounts, and avoid expensive mistakes today.
If you’re not ready to unlock the power of GlobalBanks Insider, you can still access more great content from GlobalBanks for free.
Below is a selection of our free articles, all focused on helping your business access more benefits, make more money, and protect your cash through offshore & international banks.
Many Americans look to offset the destructive effect of inflation by obtaining the highest interest rates in the US that they can find. In theory,
High interest deposit accounts in the US, Canada, and the EU have been non-existent for years. While many experts tout 1.5% to 2.5% as a
No savvy investor wants to park their funds in a bank that offers lackluster interest. But for many of us, the banks in our home
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