Isle of Man
Personal Banking in Isle of Man
Recent forum posts
Good day. I am a chartered accountant from the U.K. and I want to start up my own accounting practice as Director in Jersey with my wife as company secretary. I will be providing accounting services globally but starting with the U.K.. It looks like the set up costs are going to be £200 formation, with ongoing costs of £100 supervisory with JFSC, £50 data protection agency, £200 annual accounts,
Total Posts: 2 Last post by sam
I have been trying to get a loan for some time now due to the large sum amount of the money to expand my business in Finland but i was unable to get a loan due to my credit score All other corporation/bank turned me down. Till i was introduced by start up overseas to Discovery Investment LOANS and i was able to get a loan from them without any delay. So i am using this opportunity to inform ev
Total Posts: 2 Last post by PARAMIXED
Why Bank Offshore?
Opening an offshore bank account is an important consideration for anyone moving overseas whether on international work assignments, for an extended period or even to retire. There are many advantages of an offshore banking account and there are a number of factors to be considered when choosing where to open one. The primary consideration is safety and security of your hard earned money. You should choose an offshore jurisdiction which is well regulated and has long term political stability. You should then consider that you will most likely be dealing in currencies other than your home currency.
Your offshore bank should be able to provide banking services and international payments in all major currencies so that you can manage your financial affairs in the currencies of your choosing. And of course you need to be able to access your funds with ease. International transfers, phone banking and International Debit cards are essential here.
What's becoming an invaluable financial tool in the expatriate lifestyle is Internet Banking. Most banks today provide internet banking, but not all can provide it in multiple currencies, with the ability to make international payments and transfer between currencies online. While it may not always be a primary consideration, many expatriates find that an offshore bank account can form part of your overall tax planning solution. Independent tax advice is always recommended in this case.
Finally your offshore bank should be able to provide you with access to the full range of specialist offshore products and services such as offshore mortgages, travel, medical and critical illness cover and expatriate tax advice.
The information provided in this guide gives only general guidance and does not constitute tax, legal, investment or any other advice.