Safety is one of the primary concerns for people who want to preserve their wealth. They are looking for the jurisdictions that may serve as real strongholds for their money – and they find them! In this short post, we will take a look at these countries to see where you can legally hide from high taxes, adverse economic situations, financial crises, greedy relatives or creditors, or other threats that always exist if your capital is large enough.
You can visit our portal called International Wealth to read more about the safest offshore countries. As you can see from the name of the portal, we write about everything related to wealth protection and accumulation: international business, world banking, best tax havens, accounting issues, the most profitable investments, and so on. If you want to know more about the best present-day methods of keeping your money safe, welcome to our knowledge base of articles.
Top Destinations for Opening an Offshore Account
Choosing a place to keep your money is an important thing even if you are not a billionaire. No matter how large your capital may be, you want to keep it in the most stable and reliable jurisdiction to make sure you will not lose it.
Germany
There are 6 German banking institutions on the Global Finance list, which is a remarkable result (and bank No. 1 is among them!). Germany boasts one of the best-developed economies in Europe, and no wonder its financial system ranks first on our list.
Want to opt for Germany? Don’t expect extremely high privacy standards (they are at least lower than in Switzerland) or high interest rates. However, you can have currency diversification, which is an undeniable asset.
Switzerland
While bank No. 1 on the GF list is located in Germany, the one that takes the second place is a Swiss bank. Switzerland is known all over the world for its stable and trustworthy banks and banking secrecy.
Switzerland is one of the world’s wealthiest countries whose economy is developing at a steady pace. Its political system is very stable, which is a very important factor for banking and business. Swiss banking laws are pretty strict on banking secrecy (and impose heavy fines on the banks that violate it) and are well-thought-out to make the customer experience pleasant and convenient. Reliable asset protection and top-notch banking services are the features you are sure to find in Swiss banks.
Want to choose Switzerland? If you are a non-resident, you will have to pass stringent checks before you can become a Swiss bank client!
Netherlands
As you may have guessed, bank No. 3 is based in the Netherlands. The country’s banking system is quite robust and well-developed. You can count on quite a high privacy level, good terms of service, and sufficiently high interest rates. In addition, the banks in the Netherlands provide guarantees for all deposits made.
As this is an EU member state, the banks in the Netherlands strictly comply with all EU requirements. If you are a non-resident, you will need to comply with special requirements and pass all the checks to get your account, file all the required documents, including proof of the legal origin of your funds, and so on.
Norway
The country is one of the leading European economies, so it is hardly surprising that its financial sector is among the top 10, and its stability and reliability are really worth it. However, becoming a Norwegian bank customer is not very easy as you will have to meet rather stringent requirements as to the amounts deposited. In addition, you can open only a savings account here: no other types of accounts are available to non-residents.
You can visit our portal using the above link to find out which other jurisdictions are on the list! If you want to open an account in one of these jurisdictions, please contact us via a live chat.
