Offshore banking is a broad term used to cover the application of banking services in a foreign jurisdiction outside of the country where a person currently resides. Simply put, if you are an individual residing in South Africa and own a bank account in a foreign territory, you are engaging in offshore banking.
We understand that sometimes people feel the need to move their money offshore to protect themselves from hefty taxes when investing internationally. In the past, there were typically only a small number of jurisdictions which housed banks that specialized in offering offshore services to foreign nationals, however in the modern day people can open an offshore bank almost anywhere.
That being said, depending on where you reside, there are still certain countries that are preferred for their services as the environments combine a perfect blend of financial advantages as well as strong banking policies and practices across international borders. Because each countries banking regulations differ, searching for an international haven can take a person months if not years, which is why Offshore-Wealth is here to connect you with the right people to ensure you find the right banking facility for you.
If you are involved, or looking to start an international investment portfolio, and do not wish to move the funds back into your country, for tax purposes we are here to help. Contact us today and tell us what you need, and we will ensure that we connect you with the best match for you.