Let’s face it! The world has never been a stable place! Wars, earthquakes, politics, pandemics and an endless entire chaos. From The Great Fire of Rome to Tulip Fever! How about the 1755 Lisbon Earthquake? The assasination of Archduke Franz Ferdinand of Austria in 1914? Covid-19? The only constant thing on this terrasphere is change itself. Especially, as a recent trauma for humankind, Covid-19 has drawn us a picture in which there is no room to relieve and lay back. Most of the institutions we have trusted, have fallen apart and disappointed us. Various small business, cafe owners and tourism related companies took down the shutters. Actually, most of the financial world has already begun the Renaissance for overseas accounts after the European sovereign debt crisis in 2008. The domino effect of the collapse of Iceland’s banking system triggered a great recession for all of the Eurozone. Witnessing strict capital controls in Iceland, Greece and Cyprus, taught a golden lesson to us; “Always have a Plan B!” In these chaotic cases, an offshore bank account can lend a helping hand to you.
What is an Offshore Bank Account?
In simple terms, an overseas bank account in a foreign jurisdiction is considered as offshore banking. To clear the clouds, an Italian citizen who has an account in Malta is an offshore account holder who can transfer funds, deposit money and check on account statuses. Therefore, in any case, your assets will be safeguarded in another country and you will not lose your belongings over unexpected incidents such as economical crisis, collapse of retirement funds or likewise scenarios.
How to Open an Offshore Bank Account?
Offshore bank account applications have made an iconic dash up worldwide recently. One of the most effective factors behind this is facilitated regulations of financial institutions. It is much easier to open a bank account overseas compared to three years ago. Let’s check the latest offshore banking trends nowadays.
– More secure, less concerns!
Most of the countries which are known as golden spots for offshore banking services, have shaped a new optimal mechanism to secure your funds. Warranty coverages are increased due to the competition between offshore account providers and this battle has been going on in the client’s favor. We recommend you to search for a prestigious bank with the highest coverage and reasonable coverage terms.
– The chance to win more!
It is not a secret that most of the Eurozone countries have low interest rates compared to many other countries. Why not utilize the high interest benefits of your offshore accounts? Many leading offshore countries and banks will offer you great advantages such as tasty interest rates, better retirement plans, extra miles and free health insurance. Simply ask from your account provider for extra services.
– Learn all the taxes!
Recently, most of the offshore countries have been launching numerous conveniences to gather offshore bank account holders. One of them is expat tax advantages including better tax rates, tax exemptions and protection of your assets from the tax office of your residential country.
– Seamless customer support!
Thanks to the battle between offshore banking services and gradually developing online banking systems, your offshore bank account will provide you with customized and exclusive support 24/7/365. In most cases, a personal bank manager will be assigned for you. Therefore, no matter what time it is or where you are, you will have the opportunity of assistance from a specialist.
– Sky’s the limit for online bank applications!
You can reach your offshore account in seconds from your phone or any mobile device. This enables full control of your transactions history, money transfers and interest rates. This is another reason why an offshore banking service is exactly like a local account in your country. Through some security steps and fingerprint scan, you can sign in your offshore account and operate your movements.
E-wallets can be considered as offshore accounts in fundamentals. Plus, they are much easier to open. All you need is a simple verification process. Check out Jeton’s benefits for both individuals and business owners. You may prefer a reliable e-wallet such as Jeton over an offshore account. You are welcome for any further questions.