Find the Right Offshore Savings Account When you Move Abroad

When you are moving abroad, everything is new again, including banking. Simple details that you may take for granted are suddenly big decisions that affect your life. Opening a new savings account offshore is one of them. Discover the advantages of establishing an offshore account. Learn about other financial products you might need as well. Continue investing in stocks, bonds, hedge funds, mutual funds, structured products, futures and options. Take the time to compare the banks that are available to you long before you move to another country. Learn about bank products, customer service features and available tax advantages.

offshore savings accountWhen you have decided which country you are going to move to, it is time to apply for an offshore saving account. It may take time to get your money from your present location to the new account. You definitely want your money available for you once you have moved.

Find out what information you need to show to the banks where you are considering applying. It is not entirely the same information as you would use to apply for an account in your native country.

Additionally, you will probably have to interact with your own bank that you have now. Your present bank might need to supply some documentation for you to open an offshore account. For instance, check out the requirements to qualify for personal accounts in Belize.

According to the link, you will need letters of reference. This means you either need to have an existing relationship with your present bank or need to establish one fast.

Ready Your Passports

People planning on moving to another country will need their passports to establish themselves in their new country. Remember to update your passport, carry it with you and have it available well in advance of your move. Yes, passports may be required to open your new bank account.

Do not take for granted the details of your banking terms and conditions in your new country. Review bank fees, find out when you can access your money and view it. In addition, find out whether you can see your balance online, at an ATM or in a branch. Learn all about the bank fees and features.

Compare Customer Service and Features

Research a handful of banks to find out which one offers the best services and features for your situation. If you are like many high net-worth retirees emigrating to Belize, then you have to protect your money, invest it and have a financial professional to guide you.

Review all that your new bank’s customer service offers. It will set the tone for the rest of your time in your new nation. Offshore savings products are a necessity when emigrating. Compare costs and features to decide on the best accounts for you and your loved ones.


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