Offshore Banking Services

Written by Michael Federico
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Offshore banking services are enjoyed by some of the wealthiest individuals and companies in the world. Most are led to these banks by the promise of monetary benefits and personal perks unique to offshore banking services. These perks include generous tax breaks and the special interest rates offered to those clients who are willing to take their assets and leave the shore behind.

Along with the financial benefits, offshore banks also use extreme security measures in order to protect a client's money as well as his or her personal data. Although these benefits persuade many customers to do business with offshore banks, it is the individual attention given to each client that truly separates these institutions from those onshore.

Private Offshore Banking Services

A as one of their offshore banking services reserved for the wealthiest of clients, banks will provide private bank managers. A private bank manager will develop a way of working with the client that suits the client's individual needs. He can offer financial advice, develop specific goals for the client, figure out what must be done to achieve those goals, and introduce the client to new investment opportunities.

This last practice is where clients must be careful. Private bank managers, like most financial advisors, are not always objective. Often, loyalties to country or to the bank can influence a manager's investment philosophy. It is advisable that a client take the time to find a bank and bank manager who is suited to the client's particular needs.


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