If you think you want an Offshore Bank Account, consider the advantages of an Offshore Investment Account:
- Offers Multi-currency diversification all under one account
- Debit card linked to your investment account
- Secure online statement access 24/7
- Global access to all major securities markets
- Access to the best offshore funds
- Highly rated custody network for client assets
- Referral network to high-quality accounting, tax, & estate planning professionals
Differences between Offshore Bank Accounts and Offshore Investment Accounts
Offshore bank accounts are administered by banks and offer traditional banking services which make it more convenient to utilize the assets held in the accounts for everyday spending, receipt and distribution of funds.
Offshore Investment Accounts are administered by investment dealers. The main advantage of offshore investment account as compared to bank accounts is that besides being able to hold cash in multiple currencies, they can also buy, sell, and hold stocks, bonds, mutual funds, precious metals and other types of investments. They offer much greater flexibility in terms of providing access to a larger variety of investments.
Like a bank account, they allow investors to access their money via wire transfers and debit cards. Also, they can get you access to money market funds in several currencies, which usually offer better yields than holding cash. However, investment accounts are not intended to be used for day-to-day banking transactions. Funds received in such accounts are expected to be used for investment purposes within the account.
So, if you have your money just sitting in an offshore bank account and you are ready for more investment choices you should consider an offshore investment account.
For more a complete report including comparison chart contact us today with Bank Account Vs. Investment Account in the subject line.
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