A User Guide to Offshore Savings Accounts

The world of offshore savings accounts has always been shrouded in a little mystery as fiction writers and the press have glamourized the lives of heros and heroines whose generally underhand activities have been funded through the use of offshore accounts. But this is no longer the case. Jersey and the Isle of Man now provide homes for all of the major UK banks and building societies, all of whom are presenting portfolios of products and most of whom provide a relatively straightforward application procedure. Though British expats may be surprised to find that opening an account with an offshore branch of their own high street bank still entails a comprehensive sign-up procedure. Not least because of recent tightening of laws to prevent money laundering.