Offshore Banking Overview
Offshore banking enables businesses and global organisations to use banks located outside their country of residence or incorporation. This is advantageous as organisations can acquire favorable interest rates in low tax jurisdictions.
It is common to open a bank account in the same country where the company resides, but opening an offshore bank account is another available option to facilitate international business.
Advantages of Offshore Banking in Asia
Since the global economic crisis in 2008, the Asian financial markets have rebounded at an impressive rate, which led to growth of investments in the Asian markets as well as offshore banking in Asia.
Offshore banking in Asia offers a number attractive advantages which can be appealing to foreign investors, which include higher interest rate, better security, and lower or no-tax obligations. International banking is also available in multiple currencies, allowing efficient transfer of money.
Growth of overall global wealth created higher demand for good quality banking services. Opening an offshore bank account is not necessarily a complex and lengthy process; however, it is important to engage consultants to handle legal requirements and assist the bank account opening process.
It is important that offshore banking is structured properly, and that the correct offshore banking jurisdiction is chosen. At Asia business setup we assist our client’s source for the most ideal conditions to maximize benefits. We recommend internationally recognized banks such as HSBC, Standard Chartered, and Citibank for the widest range of professional corporate and offshore banking services.
Our organisation has the knowledge and expertise to open a globally recognized offshore banking account all over the world. Currently we are assisting client’s setup offshore banking accounts in jurisdictions such as Singapore, Hong Kong, China, Dubai, USA, and Europe. There are many available options on offshore banking strategies for investor to get better assets protection and profit maximization.
Below is a list of countries in Asia and their respective offshore banking overviews: