Tax Free Offshore Banking
|Provider||Account||Gross Rate AER||Term||Currency||More 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.
Tax free offshore banking doesn't necessarily mean you won't have to pay tax on the returns you make – you are still responsible for paying tax in your home country, but offshore banking can give you more freedom to manage your own tax affairs and help to reduce the amount of tax you pay, if not all of it. Apart from being lower or almost tax free, offshore banking offers a number of other benefits:
- Higher interest rates
- Access your money anywhere in the world
- Send and receive money internationally
- You can choose a currency to bank in – usually sterling, euro or US dollars