Offshore banking recommendations for UAE resident?
#1
Forum Regular
Thread Starter
Joined: Apr 2008
Posts: 164
Offshore banking recommendations for UAE resident?
Hi All,
I would like to open an offshore bank account (EUR and USD). I'm based in the UAE but I don't know if that makes any difference these days. Does anyone have any recommendations for a Jersey or Isle of Man or other Europe (Luxembourg? Gibraltar? etc) located offshore bank? Any banks to avoid at all costs?
Thanks!
I would like to open an offshore bank account (EUR and USD). I'm based in the UAE but I don't know if that makes any difference these days. Does anyone have any recommendations for a Jersey or Isle of Man or other Europe (Luxembourg? Gibraltar? etc) located offshore bank? Any banks to avoid at all costs?
Thanks!
#2
Account Closed
Joined: Feb 2011
Posts: 0
Re: Offshore banking recommendations for UAE resident?
Hi All,
I would like to open an offshore bank account (EUR and USD). I'm based in the UAE but I don't know if that makes any difference these days. Does anyone have any recommendations for a Jersey or Isle of Man or other Europe (Luxembourg? Gibraltar? etc) located offshore bank? Any banks to avoid at all costs?
Thanks!
I would like to open an offshore bank account (EUR and USD). I'm based in the UAE but I don't know if that makes any difference these days. Does anyone have any recommendations for a Jersey or Isle of Man or other Europe (Luxembourg? Gibraltar? etc) located offshore bank? Any banks to avoid at all costs?
Thanks!
They did have a few **** ups with some documents that I sent them but they kindly apologised, got it sorted and compensated me for the extra costs incurred....and I'd still recommend them.
#3
Re: Offshore banking recommendations for UAE resident?
We banked with HSBC Middle East when we lived in Dubai and and still do here in Muscat. When in Dubai we opened a GBP account and a USD account with HSBC in Jersey (HSBC International? HSBC Expat?) and, apart from having to complete questionnaires every now and then explaining where every last penny/cent has come from we are pleased with the service we get. Our 'account executive' knows that we aren't interested in any of the banks products and pretty much leaves us alone so we aren't bombarded with emails etc. however, when we do need help he is always there and if he says he'll call back at '3pm tomorrow afternoon' he does.
#4
Forum Regular
Thread Starter
Joined: Apr 2008
Posts: 164
Re: Offshore banking recommendations for UAE resident?
Thanks Scamp & hnd,
Unfortunately it seems you have to have HSBC Premier status to get their off-shore account which requires maintaining too much of a cash balance for my liking. I will have a look at Lloyds and also considering Standard as an option.
Unfortunately it seems you have to have HSBC Premier status to get their off-shore account which requires maintaining too much of a cash balance for my liking. I will have a look at Lloyds and also considering Standard as an option.
#5
Just Joined
Joined: Nov 2015
Posts: 4
Re: Offshore banking recommendations for UAE resident?
Standard are a good option, but to be honest dealing with the banks direct can be extremely hard work. I would advise contacting a financial adviser.