List of offshore banks in the World. An offshore bank is a bank regulated under international banking license (often called offshore license), which usually prohibits the bank from establishing any business activities in the jurisdiction of establishment. Due to less regulation and transparency, accounts with offshore banks were often used to hide undeclared income. Since the 1980s, jurisdictions that provide financial services to nonresidents on a big scale, can be referred to as offshore financial centres. OFCs often also levy little or no corporation tax and/or personal income and high direct taxes such as duty, making the cost of living high. offshore banks in the World
With worldwide increasing measures on CFT (combatting the financing of terrorism) and AML (anti-money laundering) compliance, the offshore banking sector in most jurisdictions was subject to changing regulations. Since 2000 the Financial Action Task Force issues the so-called FATF blacklist of “Non-Cooperative Countries or Territories” (NCCTs), which it perceived to be non-cooperative in the global fight against money laundering and terrorist financing. offshore banks in the World
An account held in a foreign offshore bank, is often described as an offshore account. Typically, an individual or company will maintain an offshore account for the financial and legal advantages it provides, including but not limited to:
- Strong privacy, including bank secrecy.
- Little or no corporate taxation via tax havens.
- Protection against local, political, or financial instability.
While the term originates from the Channel Islands being “offshore” from the United Kingdom, and while most offshore banks are located in island nations to this day, the term is used figuratively to refer to any bank used for these advantages, regardless of location. Thus, some banks in landlocked Andorra, Luxembourg, and Switzerland may be described as “offshore banks”.
Here is a selection of banks that offer offshore accounts in different countries.
Belgium
- Bank Delen
- Bank de Groof Petercam
- KBC Bank
France
- BNP Paribas
- BPCE
- Credit Agricole
- Credit Mutuel
- Societe Generale
Germany
- Commerzbank
- Deutsche Bank
Netherlands
- ABN AMRO
- ING
- MeersPierson
- Rabobank
- Van Lanschot
Qatar
- Qatar National Bank
Switzerland
- BCGE
- BCN
- Julius Baer
- Vontobel
United Arab Emirates
- Abu Dhabi Bank
- Commercial Bank of Dubai
- United Arab Bank
United Kingdom
- Barclays
- Coutts
- HSBC
- Lloyds
- Rothschilds
Other countries
- DBS Treasures (Singapore)
- TD Bank (Canada)
- Wells Fargo (USA)
