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Would you use the services of an offshore bank?

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Question added by Bassem Al-Ahmad , Financial Director , ADR
Date Posted: 2014/03/24

Yes,but only if the basic advantages of using such a facility are inherent.These include:

1) Low tax jurisdiction

2) Greater Privacy

3) Easy access to deposits

4) Lastly ,protection against finacial,political or local instability.

 

Advice: Check the history of the bank or contact some old customers.

Divyesh Patel
by Divyesh Patel , Assistant Professional Officer- Treasury , City Of Cape Town

Yes, I would use services of an offshore bank if:

  1. Easy worldwide access to your money
  2. Manage wealth easily through online banking
  3. Secure international payments in a range of currencies

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