Foreign Banks

Written by Michael Federico
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Foreign banks provide many of the same services and benefits that offshore banks provide. Although the Swiss Bank has achieved almost mythic status, banks in Hong Kong, the Cayman Islands, Italy, and other countries throughout the world have a great deal to offer to the foreign investor. To most prospective clients, the appeal of these institutions is the tax break and the military-grade security measures many of the banks employ.

Protection of a client's assets and privacy is the bank's top priority. This privacy, and in some cases, near anonymity, draws many customers to banks in countries other than their own. However, foreign banks also provide a haven for those who have left their homeland behind.

Foreign Banks for Expatriates

Like offshore banks, several foreign banks give special treatment to those clients with the largest accounts, but these banks also grant their basic services to expatriates who may not have as much wealth as other customers. Through a foreign bank, an expatriate can develop multi-currency mortgage options and explore investment opportunities.

If enough money is involved, expatriates, like any other client with the means, may work directly with a private bank manager. The manager will address his client's specific needs regarding accounts and investments. As in any transaction involving a large amount of money, placing funds into a Foreign Bank can involve risk. It is key for a customer to find a bank in a stable environment and to identify the services that will prove beneficial to him.

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