- Welcome to Claremont Wealth
Our Services
Offshore Banking
An offshore bank account is a bank account in a location outside your country of residence – usually in a tax efficient jurisdiction.
It offers you:
- • A secure home for your money
- • An easy way to manage international finances
- • Potential tax benefits
Enjoy Greater Flexibility:
Enjoy greater flexibility through our services offered by our banking partners.
- Accounts available in Sterling, US dollar and Euro or another currency of your choice
- Choice of debit and credit cards
- 24 hour internet and phone banking
- International money transfers
- Interest paid gross – no tax deducted
- Based in a number of international jurisdictions
Tax Obligations:
Whilst banking offshore may have tax benefits for you, tax rules differ from country to country. If you are unsure about your personal tax obligations, you should consult a specialist tax adviser. A Claremont adviser will be able to suggest suitable tax advisors. It is your responsibility to disclose your income to the tax authorities.
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How long will it take to open an offshore bank account through Claremont?Once you have provided all the necessary documents to the bank, it usually takes around 5-10 working days to have your account opened. To get started with opening your account please get in touch with a member of the Claremont team.
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What are the benefits of opening an offshore bank account?There are multiple benefits of owning an offshore bank account, here are just a few examples: It is possible to hold cash in an offshore account in a range of different currencies. This is often useful for people who are paid in a currency different to their bank back home e.g. a UK national working in Europe, who is paid in Euros, but their bank in the UK doesn’t provide a Euro denominated account. Offshore accounts can help you protect your assets. Any assets that you hold in your home country, or the country you work in, may be subject to political or economic risk e.g. a French national who was working in Egypt during the 2011 revolution, and was paid in Egypt, could be exposed to the political changes.
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What is an offshore bank account?An offshore bank account is a holding account that is opened outside of the account holder’s usual place of residence. An offshore bank account can either be opened in the name of an individual (personal account) or a company (corporate account).
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