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Offshore banking recommendations for UAE resident?

Offshore banking recommendations for UAE resident?

Old Feb 1st 2016, 6:43 pm
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Default 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!
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Old Feb 2nd 2016, 11:29 am
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Default Re: Offshore banking recommendations for UAE resident?

Originally Posted by miuser2 View Post
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!
Lloyds were easy enough to set up. I think they have currency options too.

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.
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Old Feb 3rd 2016, 5:44 am
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Default 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.
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Old Feb 3rd 2016, 5:58 am
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Default 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.
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Old Feb 4th 2016, 5:39 am
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Default 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.
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Old Feb 4th 2016, 5:53 am
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Default Re: Offshore banking recommendations for UAE resident?

Originally Posted by JamieWatkins View Post
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.
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Old Feb 4th 2016, 8:44 am
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Default Re: Offshore banking recommendations for UAE resident?

Originally Posted by JamieWatkins View Post
I would advise contacting a financial adviser.
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