Offshore and International Company Formation

Which Offshore Bank? General Offshore Investment Advice

In many cases, those establishing offshore companies and trusts require confidentiality. However, unwittingly individuals, often carefully having considered the pros and cons of a jurisdiction, forget to employ the same care choosing a bank.

Basic factors to consider:

Before establishing a bank account facility it is essential to consider not only the physical location but how and where it was originally constituted:

Physical location:

Every bank will be subject to the laws, treaties and regulations of the jurisdiction in which it is operating. In virtually all Western European countries it is accepted that the relationship between a banker and his client is privileged and cannot be released without specific legal sanction (In the UK see Tournier v. National Provincial & Union Bank of England [1924] 1 KB 491).

How and where the bank in question was constituted:

In very few cases will a potential bank client consider the exact legal status of his bank although the consequences of an 'bad' choice can be very serious. In simple terms, it is always better to select a bank which has been established as an independent subsidiary rather than as a branch of a 'mother' company since the latter could result in legal exposure in two jurisdiction's rather than one.

View Offshore Investment Information by Country/Jurisdiction:

Caribbean	Cyprus	Gibraltar	Guernsey
Isle of Man	Jersey	Liechtenstein	Switzerland

 

The following banks are recommended as meeting the requirements of Offshore Business:

Jyske Bank	Denmark's third largest bank with a well established private banking division. Branches in Denmark, London and Gibraltar.
Barclays	Probably the most experienced private and offshore bank based in the United Kingdom. Particularily good for offshore companies involved in international trade requiring letters of credit and other sophisticated services.