October 27, 2020 Connor Steens

WHY YOU NEED AN OFFSHORE BANK ACCOUNT

BY CONNOR STEENS

why you need an offshore bank account

Offshore structures that utilize bank accounts in jurisdictions such as Switzerland or the Cook Islands are provided with an array of favorable asset protection, investment, and security advantages. Strong offshore banking practices and policies provide you with a variety of financial benefits that enable you to build upon your legacy, utilize your financial freedom, and diversify your assets. Let’s break down a number of reasons as to why you need an offshore bank account.

Foreign Banking Stability

Putting your monetary assets into an offshore bank account administered by Southpac ensures that you are provided with the highest quality service and stability when it comes to banking and investment.

Political and economic risk is mitigated by moving these assets into tried and true jurisdictions that are well renowned for their banking advantages. Local government intervention is a legitimate risk in a number of countries, with examples of frozen bank accounts, bail-ins, and retirement savings nationalizations. A financial crisis can bring about these risks and it only makes sense to keep your assets in a low-risk location for proficient safekeeping.

Investment and Currency Opportunities

Offshore bank accounts allow investments across global markets, further broken down into precious metals, index funds, traditional bonds, stocks, and securities as well as alternative assets. Spreading your investments across these global markets allows you to both capitalize on global trends and disperse your financial risk.

An offshore bank account also allows account holders to have a variety of currencies in their account. Doing so further diversifies your portfolio to mitigate against the risks posed when holding a single currency.

Peace of Mind

Having an offshore bank account gives you the freedom to structure your finances as you please, taking such a strong measure to protect your assets gives you peace of mind, knowing that you are working with custodians that are built to maximize and conserve your wealth. Combining your offshore bank account with a Southpac Trust or LLC further enhances your structures’ asset protection capabilities. Southpac works with a number of international banks that offer a high degree of security and professionalism. Along with your choice of custodian, Southpac also works alongside SEC registered investment advisors that can grow or preserve your portfolio as your strategy requires. The stress associated with moving your monetary assets offshore is taken off your hands, into establishments with a proven track record of competency.

If you have ever considered opening an offshore bank account then there is no better time than right now. It is much easier to prepare for the inevitable today than it is to fix what might happen tomorrow. Moving assets offshore is an excellent addition to any estate planning, asset protection or wealth management strategy and can provide you with procedures built to maintain your legacy and wealth.

If you are interested in establishing an offshore bank account, or simply wish to request more information please contact us today for an obligation free discussion regarding your options.

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Disclaimer: The above contains the opinion of the author and is for information purposes only. It is not intended to be investment, tax, or legal advice.  Seek a duly licensed professional for this advice.

Connor Steens

Connor Steens works as an Analyst at Southpac Group. Connor has worked closely with Guy on investment an banking relationships. Connor currently oversees and monitors current marketing analytics, exposure and direction, content creation and market presence.
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