HSBC is one of the primary forces behind offshore banking due to the services offered by the “world’s local bank” to expatriates and those individuals wishing to invest and bank abroad. HSBC lives up to its motto of being the entire world’s local bank by keeping remarkably strong ties and connections with banks throughout the entirety of the world. This is how this remarkable company maintains such a strong and reputable global presence.
The term offshore banking refers to banks and other financial services outside of a person’s normal country of residence that a person uses the services of on a regular basis. These offshore banks are generally in a tax haven jurisdiction where fewer taxes apply to accounts and money. Investors who choose to expatriate their money offshore often have maturities that are entirely tax-free. Offshore banking is incredibly secure and confidential, even offering anonymous numbered accounts to those interested in increased safety and security.
Due to an increase in technology and a continually shrinking world thanks to improved travel and the marvelous Internet, the need for doing business abroad is exponentially growing. More businesses and individuals find they have needs to be able to conduct business globally, which is made easier by businesses and banks such as HSBC. Instant account access is made possible by this large banking institution by utilizing the Internet. HSBC and similar offshore banks are dedicated to meeting clients’ numerous needs, and are constantly improving their services.
Some of the products and services that HSBC actually seem to anticipate customer needs and vastly improve the whole experience of banking offshore. The division of HSBC responsible for international accounts offers aid in getting temporary housing, establishing local bank accounts, health insurance services, and even establishing multi-currency accounts. HSBC prides itself in offering instant access to customer support and financial information via the phone or the Internet, choosing the best software to upgrade security frequently. HSBC is known for privacy.
Corporations and individuals are often worried about protecting assets. Banking through HSBC ensures an added level of protection when faced with malicious litigation and lawsuits. Recently, many countries have started passing laws to try and tighten bank regulations, but HSBC is still able to maintain discretion twenty-four hours a day.
Though many people today still associate money laundering and other illegal activities with offshore banking, the fact is that it is entirely legal to bank offshore. Holding an offshore account does not mean that you are a drug dealer-on the contrary, it means you’re financially savvy and transferring assets to another country through a reliable method. International economy depends on the moving of funds from one country to another, so offshore bank accounts will always be legal.
Offshore accounts are no longer luxury items only a few can afford-instead, the common man is welcome to open an account with HSBC. Do some research to see if you can benefit from this method of opening a bank account today.
