Australia is a country located in the Southern Hemisphere and is surrounded by numerous small islands in the Indian and Pacific oceans. Australia is a country of significant cultural and tourist appeal and for this reason, many people choose to open an offshore account here. The Australian banking industry is advanced and offers numerous benefits to an offshore account holder, as outlined below.
Why open an Australia offshore account?
Australia is a popular tourist destination and thousands of people visit this country every year. This has enhanced interest in this location as an offshore banking haven, which is why many people from overseas choose to open an account here. Australia offers favorable banking facilities and enables you to open a personal, corporate or investment account in the state of your choice. There is also the opportunity to bank with either a national, offshore or international bank.
When opening the account, it is vital that you meet the requirements of the specific bank you have selected. This includes providing the necessary identification documents, as well as particular business information if you are opening a corporate account.
Opening a bank account in Australia also offers enhanced asset protection. Creditors do not generally target Australia and this country is not featured on any black list that other tax havens are on. Thus, a bank account is Australia is the ideal location for protecting your assets.
All banks in Australia are licensed and regulated by the Reserve Bank of Australia. This institution is responsible for making decisions about interest rates and maintaining the stability of Australia’s economy. The Reserve Bank of Australia is extremely stringent with regards to banking policy, and therefore you will be subject to a thorough procedure when opening an account.
View our Australia Offshore Bank Account services page to see the requirements.