We have useful expertise in identifying and working with suitable offshore banks and international banks. We are exposed to a wide range of offshore banks and international banking activities and we aim to learn from these experiences.
SAFETY. WILL MY MONEY BE SAFE IN AN OFFSHORE BANK?
The factors to consider include:
- The political and economic stability of the jurisdiction(s) in which a bank is head-quartered, located and regulated
- Reputation and substance – Standard & Poor’s, Moody’s and Fitch rating reports are useful
- Quality of regulation and access to deposit and investor protection and insurance schemes
- Parent company or similarly guarantees
- The business focus of the bank
In general the banks we work with seek to provide services to some or all of these types of clients:
- Private banking clients.
- International commercial activities, such as trading.
These services are provided from both offshore banking and international locations.
MATCHING CLIENTS WITH BANKS
We know that once we understand our clients and their business objectives we will be able to assist our clients in identifying a suitable bank to work with. Some of the aspects we consider are:
- The nationality, residence and domicile of our client. Banks often have policies that deny, restrict or place conditions upon certain classes of clients from having access to their services, and these policies change from time-to-time.
- The proposed activities of the client company or trust that we administer.
- Opening deposits and minimum balance requirements – these can be surprisingly large.