If the words 'offshore banking' conjure up for you a shadowy figure wearing a Panama hat and crumpled white suit, smoking a cigar, and probably sipping cocktails from a hollowed out coconut, then you've clearly been reading too much John Grisham. Stop it. It isn't good for you. In an increasingly globalised world, in which more and more of the population are becoming internationally mobile, and need financial services which reflect their circumstances, offshore and international banking has moved on.

There is a huge spectrum of different offshore banking services available to expats, international investors, globetrotters, international consultants and corporations, offering varying degrees of return, protection, and privacy.

This feature explores the benefits - and the risks - of having an offshore banking account.

Choosing a jurisdiction in which to locate your international bank account is tricky at the best of times, and made more so by the constant uncertainty foisted on the offshore community by the OECD and FATF, not to mention the EU's Savings Tax Directive. We review the criteria you should apply in making your choice.

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