Offshore Jurisdictions
When considering an offshore banking service, offshore investments or any other services that are classed as 'offshore', the jurisdiction that you choose to host your offshore financial services can have a great impact on how well your offshore banking service works.
Choosing a jurisdiction can be a tricky process in itself. There are a number of factors you should consider, such as the political climate and economic stability, any relevant secrecy legislation, the business infrastructure available to support your banking needs, and even the geographic location of the jurisdiction.
The most common offshore jurisdictions are as follows:
- Bahamas
- Bermuda
- Cayman Islands
- Cyprus
- Dubai
- Gibraltar
- Guernsey
- Hong Kong
- Ireland
- The Isle Of Man
- Jersey
- Liechtenstein
- Luxembourg
- Malta
- Mauritius
- Monaco
- Netherland Antilles
- Panama
- Seychelles
- Switzerland
Each of these jurisdictions has differing laws regarding investment and banking by offshore companies, and before choosing a jurisdiction make sure you investigate or obtain advice about the legal situation in each of the jurisdictions you are considering.
Some jurisdictions also have residence requirements for foreign nationals wishing to hold businesses or bank accounts within the jurisdiction, and so when considering a jurisdiction you should also consider whether or not you plan to work in that country, or retire there.