Anybody know about offshore banking? (1 Viewer)

[IrishSkyBlue]

This is towards anyone does banking or has opened a offshore bank for their company, just wondering who you went with or process you went through?

 

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[skybluetony176]

Can I ask why your company needs an offshore account? Reason I ask is that the company I work for handle a fair amount of trading overseas and we just bank with the one U.K. bank but have separate gbp, is dollar and euro accounts. If it’s large amounts of money we normally move the money through a money exchange rather than the bank when moving euros or dollars to the gbp account as you get a much better rate. Only reason from my own admittedly limited experience I can see for opening an overseas account is if you’re opening an overseas office.

 

[Otis]

Sisu.

 

[Monkey Boy]

Just don't use a nominee. Banks don't like that.

 

[Captain Dart]

This is towards anyone does banking or has opened a offshore bank for their company, just wondering who you went with or process you went through?

Joy Seppala can probably advise you.

ah, Otis beat me to it.. :emoji_smiley: the tart.

 

[richnrg]

Offshore Banking is a result of waves offshore from a beach. The swirling turbulence of waves breaking off a beach excavates a trough in the sandy bottom. Some of this sand is carried forward onto the beach and the rest is deposited on the offshore flank of the trough. Sand suspended in the backwash and in rip currents adds to the bank, as does some sand moving shoreward from deeper water. The offshore bank's top is kept below still-water (half-wave height) level by the plunge of the waves breaking over it. Banks/bars and troughs are most pronounced in the heavy surf of the stormy season; they also migrate shoreward in gentle seas and seaward in high seas. Thus, although offshore banks have greatest relief in the stormy season, they are more submerged.

Hope this helps.

 

[IrishSkyBlue]

I have a online company and will be dealing in euros sterling and dollars but need a offshore business account for payments go into, its ok i found a few banks in belize ect i can apply to directly, ive im ever in the cayman islands ill pop in and say hi to joy with her handbags

 

[Cov City Daytrader 87]

Just found this from moneysupermarket.

Guide to Offshore accounts | Offshore accounts explained – moneysupermarket.com

 

[Captain Dart]

Martin Lewis website is always worth a look. A few topics on MoneySavingExpert.com Forums

Also
Guide to Offshore accounts | Offshore accounts explained – moneysupermarket.com
Offshore Savings - Bank Accounts | moneyfacts.co.uk