5 Reasons Why to Have an Offshore Bank Account
Startupr
31 March, 2016
5 Reasons Why to Have an Offshore Bank Account
It's no secret that offshore banking offers many benefits.
Here is just a few:
- Currency Diversification
You may easily diversify your portfolio risk by holding foreign currencies. Moreover, currency diversification would also protect your purchasing power and internationalize your savings.
- Business Freedom
You will stop being dependent on one country and one currency. More options equal more freedom.
- Higher Interest Rates
Look abroad and you will find banks that offer significantly higher interest rates than what your current bank offers.
- Political Risk Mitigation
The biggest risk to your savings poses government. We only can expect higher bank deposit taxes, capital controls, retirement savings nationalizations, among other damaging actions.
- Healthier Banking Systems
Banks in stable jurisdictions offer low debt, they are very well capitalized, runned more conservatively and they usually keep more cash on hand.
Except the above mentioned advantages, most of offshore banks allow online bank account opening so you can open your new bank account from the comfort of your own home.
Be sure to check out the offshore banking guide where we share our favorite offshore banks.
About the Author
Startupr
Startupr puts you first. This is why our main focus is Startups with global ambitions. We give you the freedom to build your business while we take care of the tedious, administrative tasks, leaving you to concentrate on your dream for your company. As part of our brilliant service, our back end software will automatically send you reminders of important annual filings, and upload your important document to your online account. startupr.hk
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