Offshore Savings Accounts for Business

If you own a business, offshore savings accounts may be of some interest to you, as you may be able to significantly increase your savings. Broadly speaking, an offshore savings account can be any account that is situated outside of the customer’s resident country.


These types of accounts are often used by businesses, as they essentially allow them to defer their tax payments for a set period of time. During this period, money that is saved may continue to gather interest until it is eventually taxed at a later date, and may provide customers with a significant increase in savings.


The interest from offshore business savings account is also handled differently, the standard net tax of roughly 20% may not apply, and instead interest from offshore savings is often credited as gross.


When searching for a suitable provider, it is very important to shop around for offshore savings account deals in order to find the one that is best suited to the needs of your business.


We have listed some of what we think are the best offshore savings accounts available right now in the product comparison tables on this page.

ProviderAccountGross Rate AERTermCurrencyMore Info
   More Info >

* GROSS RATE – The contractual rate of interest payable before deduction of income tax at the rate specified by law.

** AER RATE – AER stands for Annual Equivalent Rate and is the notional rate which illustrates the gross rate as if it was paid and compounded once each year. As every advertisement for a savings product will contain an AER you can compare more easily what return you can expect from your savings over time.

If you are searching for a suitable offshore savings account for your business, there are several important factors that should be taken into consideration. Such as:


Deposit
Many offshore banks will require a relatively high deposit before an account can be opened with them, it is therefore important to shop around as much as possible in order to find the best deal.


Deposit Protection
Many banks that are outside of the UK may have very different rules and regulations regarding the protection of customer’s deposits. Customers should therefore carefully consider the risks before committing to a particular bank.


Tax Regulations
Although it is highly unlikely, prospective offshore customers should take care to ensure that they will not be taxed twice for banking with a particular country.


Account Type
There are a variety of different types of offshore account deals available such as fixed rate, no notice, instant access etc. Customers should therefore research the type of deal that they will be best suited to, and the comparison tables on this page will be a good place to start.

Instant Access Savings Accounts Deals
ProviderAccountInterest Rate (AER)TermApply
1.30%Instant AccessMore Info >
MARKET LEADING. Earn 1.30% gross/AER. Instant Access. No notice periods. Unlimited payments and withdrawals. Pay in from £100. RCI Bank are protected up to a total of €100,000 by the FGDR, the French deposit protection scheme. Manage account online.
1.22%Instant AccessMore Info >
Earn 1.22% gross/AER variable. Open with £1. Unlimited free withdrawals. Interest paid monthly or annually. Manage your account online. Rate includes a 0.97% gross fixed rate bonus for 12 months from account opening. After 12 months the rate will revert to underlying rate, currently 0.25% gross/AER variable. FSCS protected

1.17%

£1More Info >
Earn 1.17% AER variable interest. Interest can be paid monthly or annually. Open an account singly or jointly. Minimum deposit £1. Unlimited deposits and withdrawals permitted. FSCS Protected

Gross is the interest you will receive before tax is deducted.

AER stands for the Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

Latest Fixed Rate Bond Deals
ProviderAccountInterest Rate (AER)TermApply

2.25%

per annum

£5,000Apply Now >
Earn 2.25% fixed interest - 3 year term - Minimum deposit £5,000 - No withdrawals permitted. FSCS Protected

2.05%

per annum

£5,000Apply Now >
Earn 2.05% fixed interest - 2 year term - Minimum deposit £5,000 - No withdrawals permitted. FSCS Protected

2.40%

per annum

£1,000Apply Now >
Earn 2.40% gross/AER fixed for 4 years. Save £1,000 - £250,000. No withdrawals during the term. Individual or joint accounts available. Annual or monthly interest. FSCS Protected
Growth Structured Deposits
ProviderPlan NameMaximum Potential Return*TermMore Info
Kick Out Deposit Plan

4%

per annum

Up to
6 years
More Info >
Capital protected deposit plan with the potential to mature after years 3, 4, 5 and 6. If the plan matures early it will return 4% times the number of years the plan has been in force. Also available for Cash ISA and ISA transfer.
* Maximum Growth Yields are not guaranteed and subject to certain conditions