Why Offshore Bank Accounts?

There are many reasons why customers may require an offshore bank account, and their priority may have changed over time. Historically tax might have been an inappropriate consideration to open an offshore account. However, a focus on tax transparency by leading jurisdictions such as Guernsey has ensured that nowadays offshore bank accounts support legitimate customer needs. So why might an offshore account be appropriate for your needs:-

  • You might be resident in an offshore location and hence because of your address be unable to access financial services offered by onshore banks.

  • You might have become an expatriate and again find it difficult to access onshore financial services due to your residency

  • You might be an expatriate who regularly moves location with your work. It is convenient having your offshore bank account in a secure location such as Guernsey, rather than opening and closing accounts on each move

  • You might be an expatriate in a country where banks do not regularly support sterling savings, resulting in limited choice for sterling wealth you have acquired

  • You might have an offshore bank account with Skipton International because you value the award winning personal service we offer. At Skipton we remember you are a person, not an account number

There is nothing illegal or morally wrong with holding an offshore bank account, provided as with all bank accounts that the funds have been legitimately gained and that you properly declare interest and any other details as required by your tax authority.

Skipton International has been an offshore bank since 1995. We understand our customer’s offshore requirements, namely to operate a prudent bank that offers some of the best offshore bank account interest rates and a focus on quality personal service.

As an offshore bank Skipton International also provides Expat Mortgages, Expat Remortgages and mortgages secured on properties in Guernsey and Jersey.

Whilst you can open an offshore bank account in many jurisdictions Guernsey is widely respected for being well regulated, stable and use sterling as our currency.

Who opens an Offshore Bank Account with Skipton International? We have customers:-

  • Resident in over 100 countries worldwide and using Skipton International for their expat savings
  • Having savings or earnings in sterling
  • Looking for some of the best offshore bank account rates
  • Acquiring wealth whilst working as an expatriate or obtaining an income from prior savings whilst enjoying a well earned retirement overseas
  • Resident in an offshore jurisdiction, particularly the Crown Dependencies of Guernsey, Jersey and the Isle of Man
  • Resident overseas, but requiring their UK Sterling pension paid into a UK payment zone bank account
  • Appreciating the personal service they receive from an English speaking Offshore Bank registered in the highly regarded and well regulated jurisdiction of Guernsey

 Please consider the accounts listed to the right of our offshore savings account page and if of interest please apply here.