Offshore Investing – Why Is It Underutilised?
There are many stigmas attached to the ideas of international, or offshore corporate bank accounts, as well as offshore companies. Basically, this refers to the practice of investing assets or setting up a company in a jurisdiction other than your place of residence, hence the term ‘offshore’. The truth is that offshore banking and offshore company formation are legitimate strategies if done correctly in respect to the laws of the investment jurisdiction and laws of person’s, or company’s, resident jurisdiction.
Unfortunately what most people see are stories in the media about cases in which these financial tools have been misused for things such as tax evasion and money laundering, and so the result is a perception that these strategies are not an option. Without international markets, the majority of businesses today would not exist. Globalisation and technology means international business operations are not just for large multinational companies. Entrepreneurs and small business can just as easily take advantage of offshore opportunities to maximise efficiencies.
Continue reading more about some of the reasons why investing offshore is often underutilized.....
Healy Consultants blog
Corporate Banking Options
Many people believe few standard options exist for corporate bank accounts because they are standard tools of the business world. The truth is quite contrary. There are many available options for business managers, owners and even individuals – options that can typically provide better return on profits, asset protection and investment options than they are currently receiving.
A traditional bank account is one opened in the same locality where a company resides. It is common for a new business venture to use a national or local bank where the company resides. But an international bank account is one of many choices available to businesses. International banking, or offshore banking, has been notorious for activities, which undermine its main purpose – to facilitate international business with greater ease. Surprisingly, though, opening offshore bank accounts can sometimes be an easier process and easier to maintain than local accounts.
International corporate bank accounts offer all the banking technology offered by any national bank, such as international wire transfers, online banking and multi-currency accounts. Most banks will also provide clients with offshore credit and debit cards, giving them the flexibility of immediate access to funds, even though they may be thousands of miles away. Typical advantages for offshore corporate accounts include higher interest rates and lower or no-tax obligations. These advantages can far outweigh what a local bank can legally provide.
Continue reading this article, including advantages of corporate banking options......
Healy Consultants blog
Offshore Banking Trends in 2011
The banking world has seen huge changes over the last three years, and 2011 will continue to manifest the results of these events. Reactions to the economic and financial crises show consumers have less tolerance for risk, governments have less tolerance for bank secrecy, and more business and consumers are moving their money back onshore. But these changes in 2011 will result in increased competition in low tax jurisdictions and more money flowing between continents.
Click to see 'Banking Trends for 2011'>>>
Healy Consultants blog
Benefits of Offshore Banking in Singapore
Singapore offshore banking is a secure, stable and reliable solution for international business. The concept of offshore banking receives negative press at times due to illegal activities it is sometimes used for. However, offshore banking can be an effective strategy for improving efficiency of international business operations. Singapore is one jurisdiction that offers a number of incentives for offshore banking. These include:
- Well regulated banking system
- International financial hub
- Stable economic and political environments
Singapore is attracting increased investment from both high net worth individuals and entrepreneurs wishing to set up a corporate bank account.
More information on Singapore offshore banking can be found here http://www.healyconsultants.com/company-incorporation/singapore-company-incorporation.html.