Offshore Banking

What does Offshore mean?

Offshore is often used to describe financial activity that takes place within the regulated environment of jurisdictions such as Jersey, Guernsey and the Isle of Man Financial Services centres.

An offshore financial centre is often an independently governed small jurisdiction where tax rates are low for residents and local business, including banks, however often non existent for non resident savers.

Many offshore centres, like Jersey, Guernsey and the Isle of Man are well regulated, politically, economically and fiscally stable financial centres.

Reasons to bank and save offshore

• You may have particular financial needs that your domestic or international bank may not be able to meet.
• You may regularly travel to or work in other countries, or are constantly relocating and need different things from your bank. You might want to save in different currencies and transact regularly in a foreign currency. If you've been posted overseas in your job your income and tax liabilities will probably have changed, in which case this could be a golden opportunity to build up your wealth. We have several savings and investment options to offer you.
• You are a foreign national living and working in the UK.
• You are a UK resident interested in offshore banking. Bank of Scotland International is the offshore business of the UK's largest savings bank.
• You may be considering retiring or are already retired overseas and may find saving offshore benefits your lifestyle.

To find out more about the benefits of offshore banking, visit Lloyds TSB International