International Banking

International, or offshore, banking allows entrepreneurs and global organisations to conduct financial transactions through a bank account outside their country of residence or incorporation. An offshore bank is any bank that is outside a person's place of residence, or companies place of incorporation. Healy Consultants assists clients with international banking strategies and company registration in many jurisdictions including Singapore, Hong Kong, Australia, Dubai, the USA and Europe. Our offshore banking team oversee all aspects of corporate bank account processing, thereby minimising inconvenience for busy entrepreneurs. The following is an overview of the international banking services available for clients considering banking offshore:

International Banking Services

1. Offshore Banking - As one of Healy Consultants Offshore Corporate Services, offshore banking enables our clients to conduct financial transactions to and from corporate bank accounts outside their country of residence or incorporation. If structured correctly, banking offshore is secure, legal and reliable with the potential benefit of legal tax-exemption. Additionally, an offshore bank account in Singapore and Hong Kong offshore banking have excellent images. Such corporate bank accounts avoid potential instability in many 'onshore' jurisdictions.
2. International Corporate Bank Accounts - Healy Consultants assists clients to open international, or offshore, corporate bank accounts. Our firm works hard to minimise inconvenience to our international banking clients, and it is often not necessary for clients to visit the bank in person to obtain the corporate bank account. Healy Consultants foreign banking team prepares all account documentation and attends an interview on our clients' behalf. Depending on the bank selected, our clients receive international ATM cards, cheque books and world class internet banking.
3. The best offshore bank account can be different for different business and investment objectives. Healy Consultants recommends internationally recognised banks such as HSBC, Standard Chartered and Citibank to clients who are considering setting up a foreign account. The term offshore banking often brings to mind Swiss bank accounts but Switzerland is not neccessarily the best location for an offshore account. There are jurisdictions around the world such as Dubai, Singapore and Hong Kong that offer excellent incentives for investors and are recognised global financial hubs. Our firm believes these are currently the best options for offshore banking.
   The procedures to open an offshore bank account vary depending on the jurisdiction and the financial institution. Generally the procedures are similar to opening a local bank account and may require steps such as i) proof of identification and residence, ii) bank account application forms, iii) reference for signatory, iv) account setup.
4. Corporate Finance - Healy Consultants liaises with leading corporate finance providers around the world to provide our international banking clients secure corporate finance to suit their specific business needs.
5. International Brokerage Accounts - another of our international banking services for clients, this allows clients to effectively trade securities on global stock exchanges through an offshore company.
6. International Merchant Accounts - to support retail operations, many clients request a merchant account which allows them to accept purchase orders through their business website. This critical yet convenient service ensures secure payments, and accepts all major credit cards.
7. International Deposit Accounts - our firm assist clients open high interest deposit accounts with some of the world's leading international banks.
8. International mortgages - Healy Consultants assists clients obtain international mortgages to support their global property investments.
9. Gold Bullion Account - Investing in gold is often seen as a safe haven as compared to more volatile investment sectors. Healy Consultants assists clients with requirements for gold bullion accounts.
10. Private Bank Accounts - the growth in personal wealth, particularly in Asia, has sparked huge demand for niche private banking services. Healy Consultants' wealthy clients benefit from our knowledge of private banking and our ability to tailor solutions to suit our clients specific international banking goals.
11. Wealth management - In addition to the above services, Healy Consultants will engineer a comprehensive wealth management strategy for international entrepreneurs. This includes, but is not limited to, property services and international tax planning to fulfill our clients' international wealth management objectives.

Fundamental Offshore Banking Strategies

1. Registering an Offshore Company - legitimate tax minimisation is a prime reason to set up an offshore company as part of the banking strategy, some of the elements of which can include:
   • Transfer Pricing - moving profits from a high tax jurisdiction to a low- or zero-tax offshore jurisdiction.
   • Professional Services - a common offshore banking strategy tool, a person working overseas may set up an offshore Company to limit his or her tax burden by receiving, into the country in which he/she is working, a fixed level of remuneration and accumulating the balance in the offshore Company.
   • Holding Company - high net worth individuals may incorporate an offshore Company to use as a personal holding company.
   • Investment Companies - an offshore company can be used to invest in property, stocks and shares, commodities and other assets.
   • IPO and Capital Raising - offshore banking strategy in large corporations may involve diminishing the perception of risk by moving ownership of assets and the base of their operations offshore
2. Offshore Trust formation - the transfer of wealth to an offshore Trust is a popular offshore banking strategy tool. Where a person is domiciled outside a territory and owns assets located in that territory (for example, property), then such assets may be protected against inheritance tax and higher rates of taxation by holding the assets through an offshore Trust. For example, creating a corporate Trustee for a family Trust provides more effective control during a Client's lifetime and saving on third-party Trustee fees.

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