Offshore banking advice

Offshore banking advice

Author
Discussion

digger_R

Original Poster:

1,807 posts

208 months

Tuesday 6th January 2009
quotequote all
I'm after an offshore account with as much prototection as possible from it's onshore parent bank as possible. I've had a look at some of the other threads but they don't really cover the 'safety' side of it which is obviously looking more important at the moment.
can someone point me towards a reputable account.

Eric Mc

122,332 posts

267 months

Tuesday 6th January 2009
quotequote all
Protection?

In what way?

IceBoy

2,443 posts

223 months

Tuesday 6th January 2009
quotequote all
What should one look for when considering an off-shore bank account?

K

Eric Mc

122,332 posts

267 months

Tuesday 6th January 2009
quotequote all
The first thing I would look for is - why do you want to open an offshore account?

digger_R

Original Poster:

1,807 posts

208 months

Tuesday 6th January 2009
quotequote all
Eric Mc said:
The first thing I would look for is - why do you want to open an offshore account?
Primarily multiple currency and additionally my (reasonably) frequent changes of location mean I think it would be worthwhile. Uk banks don't seem to offer too many competetive accounts for non-residents

Eric Mc

122,332 posts

267 months

Tuesday 6th January 2009
quotequote all
As long as it's not tax evasion smile

digger_R

Original Poster:

1,807 posts

208 months

Tuesday 6th January 2009
quotequote all
Eric Mc said:
As long as it's not tax evasion smile
redcard

That does seem to be the thought that comes into most peoples minds when you mention offshore accounts but I see it as entirely legitimate for what I want.

In case it's not clear, by 'safe' I mean that it has a parent company that will back its liabilities to depositors.

Eric Mc

122,332 posts

267 months

Tuesday 6th January 2009
quotequote all
It would be interesting to know how many countries operate Depositer Guarantee Schemes like the UK does. I'm sure many people were unpleaseantly surprised when they discovered that the UK schemes did not cover bank accounts held in the Isle of Man or the Channel Islands.

Good Plan Ted

2,009 posts

233 months

Monday 20th May
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To avoid Labours proposed wealth tax maybe?

PlywoodPascal

4,442 posts

23 months

Monday 20th May
quotequote all
IceBoy said:
What should one look for when considering an off-shore bank account?

K
Good telephone banking - you never know when the weather will prevent boarding.

ikarl

3,733 posts

201 months

Monday 20th May
quotequote all
Holy thread resurrection....