Offshore Fixed Deposit Account

Offshore fixed deposit accounts are available in most major currencies. They are suitable for clients who are able to predetermine their cash flow and who wish to lock away a sum of money for a fixed period. Healy Consultants assists international clients open offshore fixed deposit accounts with major banks including HSBC and Barclays.The key characteristics of international currency deposit accounts are as follows;

An offshore fixed deposit account is an arrangement whereby an individual or organisation places cash in an offshore bank. The deposit has a flexible fixed term from one week 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 offshore fixed 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.

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

The offshore fixed deposit account offers high interest rates often fixed for periods of up to five years. Most offshore fixed 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 offshore fixed 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.