Fixed Deposit Investment Account

A fixed deposit investment account is an astute choice for international entrepreneurs looking to invest significant funds for a duration of time. Healy Consultants assists international clients open fixed deposit investment accounts with major banks including HSBC and Barclays. The following is an overview of the key characteristics of fixed deposit investment accounts, including their advantages and disadvantages.

A fixed deposit investment account is an arrangement whereby an individual or organisation places funds in an offshore bank. The deposit may have a fixed term of as short as one week to as long as five years. Throughout this time, access to the funds is limited. Consequently, this account is not ideal for those requiring regular and unlimited access to their funds.

Fixed deposit investment accounts are available in all major currencies, including US Dollars, Sterling, Euros, Australian Dollars, and Singapore Dollars. Account holders whose income is in these currencies or who need to make payments in these currencies avoid foreign exchange commissions and administration charges. That said, some fixed deposit investment accounts have restrictions on funds access and payment methods into the account. Healy Consultants will find a fixed deposit investment account which best meets the needs of our clients.

The fixed deposit investment account offers high interest rates often fixed for periods of up to five years. Some banks, such as HSBC, offer even higher rates, to premier customers. Most fixed deposit investment accounts accrue interest daily and are credited quarterly.

Healy Consultants assists clients with all aspects of the deposit account opening process, including:

i) Locating the most suitable, tax-efficient jurisdiction for the account. Our preferred jurisdictions for fixed deposit investment accounts are Singapore and Hong Kong, where bank service is superior;

ii) Finding the account with the most flexible terms and conditions, including competitive interest rates and fewest limitations on funds access;

iii) Following up with the bank during account opening, including completing account opening forms on behalf of our client, paying in the initial deposit and advising our client of account opening approval, including forwarding details of the account Internet login, as well as password details and PINs.