Best Offshore Banks For Americans – Which One To Choose?
Many Americans wonder which banks are the best offshore banks to choose, and that offer the most benefits? The answer will depend on a number of different factors, and the best bank for one person may be all wrong for another. There are hundreds or even thousands of options with offshore Internet banking, and the right one will depend on the specific purpose for having an account, as well as the tax benefits being sought, the level of personal service and attention desired, and the area of the bank. The citizenship or residency of the account holder is also an influential factor. The best offshore banks according to many experts are the ones which are out of reach for the country of residency of the account holder.
Whether the goal is an offshore credit card, checking or savings account, or other type of financial holding the best bank is one that is trusted, and that has a solid business history and reputation. Some countries and global areas should be avoided by Americans, because of the influence that the USA wields in some regions of the world. While Panama may be the location for one of the best offshore banks for European residents this area should be avoided by Americans. The Cayman Islands, Switzerland, and the Caribbean should also be ignored. For offshore savings accounts U.S. Citizens and residents are better off going to areas such as Africa or the Middle East.
The best offshore banks for Americans are banks which offers the privacy and secrecy sought by the account holder, and that also avoid any risks of financial losses. Look at the history and financial stability of the bank, because most offshore banks do not offer deposit insurance. It is also important to look at the politics and recent events in the area. It does no good to have a high yield certificate of deposit if a foreign government takes over the banks in the country where the offshore account is located.