International Deposit Accounts

An international deposit account is an excellent way for international entrepreneurs to invest large sums for a fixed period while enjoying high interest rates on their deposit. Healy Consultants assists international clients open international deposit accounts with major banks including HSBC and Barclays. The following is an overview of the key characteristics of international deposit accounts, including their advantages and disadvantages.

An international deposit account is an arrangement whereby an individual or organisation places cash in an offshore bank. The deposit typically has a fixed term of up to five years, during which access to the funds is restricted. This type of account is therefore unsuitable for international entrepreneurs who require ready access to their funds.

Our clients open international deposit accounts in all major currencies. By holding funds in the currency in which they are received or needed to pay foreign suppliers, account holders minimise the impact of exchange rate volatility.

Healy Consultants assists clients open all types of international deposit account, including the demand account, savings deposit account and time deposit account.

Some international deposit accounts have restrictions on funds access and payment methods into the account. Healy Consultants will find an international deposit account which best meets the needs of our clients.

The international deposit account offers high interest rates often fixed for periods of up to five years. Most international deposit 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 international deposit accounts are Singapore and Hong Kong;

ii) Finding the account with the most flexible terms and conditions, including competitive interest rates and fewer restrictions on access to the account;

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