Offshore Business Bank Account

Every business is different. As are the benefits that each business can gain from offshore banking.

But generally speaking, nearly any business that operates in multiple countries or across multiple currencies will benefit from opening an offshore bank account.

This is because offshore banks typically provide access to a wider basket of currencies, have lower foreign exchange rates, and can offer competitive interest rates on deposits compared to onshore (or domestic) banks. 

Additionally, if you need to send transactions to or from specific jurisdictions (e.g. Europe), offshore banks can facilitate low cost transfers through transfer networks like SEPA and SWIFT.

By opening accounts in offshore jurisdictions, most international businesses are able to unlock the following:

• Access to a wider range of banks & services 
• Safer banks & banking systems 
• Reduced political & economic
• Increased account privacy & security (important in many countries)
• Reduced impact of FX fluctuations with a basket of relevant currencies
• Higher interest rates on deposits being kept in cash

These are just a few of the many unique opportunities that a business can access through an offshore bank account.

Of course, business owners face challenges when attempting to open offshore accounts.