Which are the best offshore bank accounts?
Offshore bank accounts are bank accounts which are, unsurprisingly, located offshore.
Typically these locations will also be supposed tax havens, such as the Isle of Mann, Gibraltar or Jersey. The purpose of offshore bank accounts is to provide a location for people to receive money in multiple currencies outside of their country of residence or domicile.
Traditionally viewed as part of tax avoidance schemes, this view is outdated and offshore bank accounts are suitable for people who work abroad or have foreign investments.
Tax may still be owed on income, however, it is important to understand the rules surrounding tax in your country of residence.
For example, for people domiciled in the UK tax will be owed on world wide income, regardless of whether the bank account is offshore or not.
Which are the best offshore bank accounts for expats?
Most high street banks provide offshore bank services, however the type of acccount offered can vary significantly.
We have highlighted what we consider to be the best offshore expat bank accounts for expats below as a guide for the offshore bank accounts you may wish to consider if you need to open an offshore bank account as an expat.
The offshore bank accounts are listed in alphabetical order to ensure neutrality.
Disclaimer about our list of offshore bank accounts
Please note that we are not recommending any offshore bank accounts nor are we affiliated to any of the offshore bank accounts listed below.
We do not receive any payments for sponsorship or advertising for the information provided and all details are maintained on a "best endeavour" basis.
I Set up a Cheap Offshore Company Online. Here’s What Happened.
We cannot be held responsible for out-of-date information contained on these pages or external websites we link to.
We try to keep this page up to date, however from time to time our information may be out of date. If you spot an error, or have some feedback about the products on this page please email us at [email protected]
We've also been instructed to remove one or two major international banks from this list due to over protective brand police.
For this we apologise.
Before making any decisions about your finances, you should always seek independent financial advice.