Offshore Private Banking
The term private banking (or offshore private banking) was literally derived from institutions which were privately owned, but has evolved to mean confidential and personalized banking mainly geared toward investing, saving, inheritance planning, asset protection and tax minimization for high net worth clients. In practice, this service, once only available to high net worth individuals, is now available for deposits as small as $50,000, but generally requires an initial deposit of at least USD 500,000 or equivalent. A new class of “super clients” has emerged from this group with several elite offshore banks offering “wealth management” services with an even higher service level. The private banks referred by Sterling Offshore have long histories of confidential service and solid banking and investment practices.
Private banking and wealth management are traditionally most popular in Switzerland which holds approximately 35% of the world’s bank deposits. Switzerland has a tradition of banking secrecy (enhancing asset protection) and a history of providing confidential solutions. This along with some of the best minds in the financial world. Other offshore banking jurisdictions such as Austria, Luxembourg, Isle of Man, Channel Isles, and Lichtenstein are also popular as offshore private banking centers. In recent years, offshore banking jurisdictions more noted for offshore commercial and business banking have entered the fray of full service offshore private banking and wealth management.
Sterling Offshore recommends some of the top offshore private banking institutions in the world in terms of assets held and impeccable levels of service. Many of these institutions would normally require you to visit them in person before establishing such a relationship. Sterling Offshore is pleased to offer clients an introduction in lieu of such requirements through our relationship as an introducer or intermediary. If you wish to invest internationally in confidence and demand the utmost in service, please contact Sterling Offshore today and we will help you establish a private banking relationship with one of our highly respected partners.