Is offshore banking still safe and functional in the era of deoffshorization? Yes, it is alive and kicking! But let me tell you a story before we get to any particularities…
Suppose you come to a beach in a country where you arrived for the first time. If you have a friendly guide who will tell you how to enjoy yourself in the best way possible and avoid the existing dangers (like sea urchins or poisonous sea creatures living on the bottom that you’d better not disturb for a photo session), you are in for a much more exciting experience than if you spend your first day (or several days) observing.
People who plunge into the unknown usually spend some time on the alert trying to make out the rules. So, the day spent on that beach by someone with a guide and without a guide will be different, right? And when you ask them whether the beach is good, they will probably have different answers.
The beach is the same, but your experience is different.
The same thing may happen to people who venture into the offshore banking world without a guide. Some of them have a more or less pleasant experience, while others happen to choose the wrong bank and end up with an idea that offshore banking is something that should be avoided. Well, Caribbean banking can be just perfect! You can read our article on the banks in the Caribbean region or even choose a guide to introduce you to this world!
Beaches change over time. Some tend to become rocky and abandoned, while others thrive and become even more beautiful. Banks tend to behave in the same way, that’s why we collect feedback from our clients and keep our finger on the pulse to see any signs of improvement or deterioration.
What do our customers seek in Caribbean banks?
Reliability at an affordable price
Despite major upheavals that the offshore banking sector experienced in the past decade, most jurisdictions managed to stabilize the industry and offer favorable conditions to attract individuals and businesses. As you understand, there are few ways to sustain the economy of a relatively small island, and banking is one of them. Therefore, offshore countries do their best to ensure stability and reliability.
Offshores have traditionally been maneuvering between the transparency required by the world’s regulators and the anonymity that their clients wanted. They finally found the golden mean that their banks can now offer: the highest possible degree of confidentiality in the present-day world comparable to the best Swiss banks.
A good range of services
Well, you will certainly find some banks in Hong Kong or Switzerland that can offer more. However, people rarely seek to find just the best bank in the world: they usually want the one that fits their purpose. That’s why we first offer a free consultation to match your needs with a suitable bank – and then offer you the help you may require. Follow the above link to schedule a meeting with our expert.
There is much more to Caribbean banking, of course. Some jurisdictions are recommendable – while some, like Dominica, are not. There are banks that are active internationally and willingly open accounts for non-residents, and there are those that stick to a particular niche and would not onboard you. And it’s the guide’s work to know all these details.
Do you love safety in the same way we do? Then you will probably understand what we mean when we advise you not to go to an unknown beach without a guide!