Offshore bank accounts & Private banking in Europe as a part of family office or family wealth management is a key element for individual entrepreneurs and family businesses. Finding an effective management model that takes into account the interests of the family and ensures business continuity is an ongoing part of the challenge faced by family business entrepreneurs.
Why is it worthwhile to maintain savings in private banking in Europe?
Keeping assets abroad can provide a number of benefits, including:
- Diversification: By holding assets in different countries, you can spread your risk across various economies and currencies. This can help protect your wealth against economic or political instability in any one country.
- Access to new markets: Keeping assets abroad can provide you with access to foreign investment opportunities and allow you to take advantage of growth in different markets.
- Privacy and confidentiality: Some countries offer strict financial privacy laws that can help protect your assets from seizure or legal action.
- Tax benefits: Holding assets abroad can offer tax advantages, such as lower rates of taxation or tax exemptions on certain types of income.
- Currency diversification: Holding assets in different currencies can help you hedge against fluctuations in exchange rates and potentially increase your overall returns.
- Asset protection: Keeping assets in jurisdictions with strong asset protection laws can help shield your wealth from legal claims or creditors.
Overall, diversifying your assets internationally can help you protect your wealth, maximize your investment opportunities, and potentially reduce your tax obligations. However, it is important to seek professional advice and carefully consider the legal and financial implications of holding assets abroad.
Our assistance in setting up foreign bank accounts
Our main partners in this field are banks in Switzerland and Liechtenstein, focused on providing long-term financial service to wealthy clients.
When selecting our partners, we paid particular attention to ensuring that they are characterized by the highest understanding of the requirements of discretion and confidentiality, a wide range of banking services and products, above-average asset management results, and multi-generational experience in financial administration.
We provide our clients with a comprehensive range of services, which include:
- Advising clients on selecting the most suitable bank that meets their specific needs,
- Establishing a separate legal entity, such as an offshore company, trust, or Foundation, to manage a bank account on the client’s behalf;
- Assisting with the completion of application forms for opening accounts on behalf of clients,
- Coordinating meetings with bank representatives,
- Developing business plans in the specified format required by banks,
- Representing clients in interactions with banks concerning the verification of the source of funds and the clarification of wealth sources,
- Advocating for clients with banks to ensure compliance with anti-money laundering regulations and Know Your Customer policies,
- Offering guidance on the selection of an appropriate investment strategy.
Our offer is addressed to clients in sector of private banking who are ready to invest at least 1’000’000 USD in chosen bank.