The different types of offshore accounts

Most high street banks and building societies offer an array of financial products, this is the same for offshore banks. The majority of good offshore banks will have facilities to provide reliable advice on tax, savings, mortgages, overdrafts and general day to day accounts. Some of the more common account types and facilities include:

• Savings accounts
• Internet accounts
• Credit cards
• Cheque accounts
• Overdraft facilities
• Insurance
• Bonds
• Mortgages

All of these accounts and facilities are offered with little or no tax implication whilst the funds remain in the account. With most offshore accounts, deposits can be made in a variety of currencies making these accounts ideal for the person who travels frequently.

It was always thought by many people that offshore accounts were only for those who had masses of money or those who were dealing in things that they shouldn’t! Both of these are common misconceptions, in fact, the majority of people are eligible for offshore banking if they so wish.

Offshore banking is protected by legislation, meaning that any action which occurs within your account is totally confidential and secretive. This offers protection to the account holder from the tax man and other creditors.

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Guide Contents

What are offshore accounts?
The different types of offshore accounts
Day to day banking with offshore accounts
Saving with offshore accounts
Shopping around for an offshore account
Frequently asked questions about offshore accounts

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