What is offshore banking?
An offshore, or overseas, bank account is one that you have in a country you don't live in. They allow you to make and receive payments, hold money and set up savings and investment accounts in multiple currencies.
Offshore accounts, also known as offshore bank accounts or offshore savings accounts, can make it simpler to manage your financial commitments across multiple countries and regions.
Most expats have a bank account in their home country and another account in the country they're living in. Many also consider opening an offshore account, as this can be an effective way to save, invest and manage money while abroad.
