Offshore banking, known more commonly now as Global Banking. It is the practice of keeping money in a bank account located in a different country than the account holder’s home country. There are many reasons why people choose to do this, including the potential for tax benefits, asset protection, convenience, security, privacy, and higher interest rates.
How to open a global bank account
Opening an account with EQIBank is simple! It’s all 100% digital, online, and takes 15 minutes to apply. No branches. No travel. You can apply for your account online today at https://apply.eqibank.com/. Offshore bank accounts located in a country other than the account holder’s home country. With EQIBank, clients can use the account to make and receive payments, hold money, trade, take loans, and set up savings and investment accounts in multiple currencies.
While offshore banking offers some tax advantages, these accounts are not a valid way to hide money from tax authorities. You’ll still need to disclose your income to relevant tax authorities and declare any interest earned on the account.
What do I need?
To open an EQIBank account, you’ll need to provide proof of your identity. We may also require information about the source of your deposits. Once you’ve opened your account, you can access it by making wire transfers. You may also be able to use a debit card to withdraw cash from ATMs.
Advantages of banking with EQIBank
These are some of the main advantages of global banking.
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Convenience: EQIBank offers a wider range of services and products, including accounts, debit cards, trading and custody of treasuries, securities, bonds and digital assets (crypto), loans, and wealth management. All are available via our online banking.
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Coverage: EQIBank offers more products to over 180 countries around the world. Enabling you to do more with your money.
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Lower taxes: EQIBank’s jurisdiction has no direct taxation, which can be an advantage for individuals or businesses looking to minimize their tax liability.
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Asset protection: Global banking can be a way to protect assets from creditors, lawsuits, and other legal actions.
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Diversification: EQIBank can assist with the diversification of assets and can assist by helping to spread risk.
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Access: You’ll have easy access to your account 24/7, anywhere in the world.
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Privacy: Many global banks offer higher levels of privacy than banks in the U.S.
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Currency diversification: EQIBank allows you to hold money and make investments in different currencies.
Protection
Selecting the right bank for your global business and those of your clients is an important choice. You have to ensure your bank offers the products, services, and coverage you require and is a safe and sound institution. EQIBank has recently been voted the “World’s #1 Global Digital Bank“* and has a class-leading credit rating: https://eqibank.com/protecting-your-money/