There goes a common misconception that offshore banking facility is only for the well-heeled and multinational corporations with huge wealth portfolio. However, the truth is that even small businesses, having financial stability, can potentially benefit from having an offshore corporate bank account. Since small businesses operate with small working capital and have low-profit margins, they think that they are not eligible for offshore corporate banking services. But this is untrue.
There are several globally-recognised offshore banks and financial institutions that provide the opportunity to open corporate bank accounts, even to small businesses with low capital and profit earnings. Take, for example, SUISSE BANK. The offshore banking institution is licensed in the United Arab Emirates and requires a nominal first payment amount of only 25,000 EUR to open a corporate account. Additionally, the amount is not a bank deposit and is freely available for use to the business.
So, it should not be a big deal opening an offshore account for your small business. Furthermore, there are several other corporate banking solutions that you can get for effective wealth management and propelling business growth. Let’s check out some of them:
Anonymity and Privacy
When you open an offshore corporate bank account, your wealth and investments come under the jurisdiction of that particular country. And there are some unique banking guidelines for businesses that ensure utmost privacy of their account and anonymity of the directors or investors. This is one of the biggest advantages of having an overseas account. It also helps safeguard against potential risks of government intervention.
A Gamut of Financial Products and Services
When you have an offshore business or open an overseas account, the interest rate isn’t the only thing you expect from your banking institution. You also want products and services that can help boost your business operations and drive growth. Many reputable offshore banks offer a wide range of products and personalised services that are designed to generate increased wealth for your small business. One of these is the MasterCard, which is an intelligent way of mitigating your losses while giving you more purchasing power.
Ability to Hold Multiple Currencies
Many small businesses have been dealing with multiple currencies, but through their domestic bank account with more hassles and less convenience. In such a scenario, having a corporate offshore account can help you deal with multiple currencies without having to pay remarkably higher conversion charges. This gives you an opportunity to cut down on your costs and ensure long-term solvency.
Some offshore banks, such as SUISSE BANK, also provide the option of blockchain banking. This empowers small businesses like you to trade in top cryptocurrencies like Bitcoin, Ethereum, etc. And they do not just provide the option to buy or sell multiple cryptocurrencies but also aid in crypto storage, conversion and liquidation.
The benefits of holding an offshore corporate bank account are lucrative enough for small businesses to move towards effective wealth management and diversify their risks. However, make sure you choose the right offshore bank that has been in the industry for long; providing customised solutions, privacy and security of your wealth.