Seek stable offshore bank with multi currency bank accounts.

[zack]

Hello,


I need a stable offshore bank with stable Internet banking and multi currency accounts. It should not be too expensive but have good privacy protection. I need it to collect money from invoices send to clients all around the globe.


I already have an account with HSBC Bank UK but want something more private.

 

[Zqq]

Based on my experience, Asia is the best region for multi currency accounts. Pretty much any bank in Singapore and Hong Kong will open multi-currency accounts; for example OCBC, UOB, and DBS in Singapore, and HSBC and Hang Seng in Hong Kong. You have to visit the bank in person to open an account. Compared internationally, Asian banks have lower fees.


Panama (Multibank and HSBC) and Mauritius (MCB and HSBC) have recently started offering multi-currency as well. You can usually open accounts there remotely.


Barclays and Standard Chartered in Dubai do multi-currency as well, but - again - you need to visit the bank in person and it may be difficult to open an account without a company in UAE.


There are more. That's just just of the top off my head.

 

[zack]

Thank you very much that was helpful. I don't mind to travel to Hong Kong if it is suitable will have to make more research on the mentioned banks. Do you know a little about he fees in Mauritius with MCB? Just wire transfer fees are fine.

 

[Zqq]

This is taken straight from a brochure:


USD: 0.125%, min. 20 / max. 50


GBP: 0.125%, min. 13 / max. 35


EUR: 0.125%, min. 15 / max. 27


Incoming SWIFT wires are free of charge.

 

[zack]

Perfect. Seems to be a reasonable fee. Do you know if the bank opens account for all offshore companies i.e. Belize, Seychelles, Panama Andorra and Cyprus?

 

[Zqq]

Their focus is mainly on Africa and Asia. Just give them a call or drop them an email about your jurisdiction of choice. They definitely deal with Mauritius companies though, both GBC 1 and GBC 2, as well as Seychelles.