Offshore Banking Corporate Customers

There are many more corporate than individual customers helding offshore accounts.

Offshore banking corporate customers are generally sorted in one of the following four groups:

• Multi-national corporations;
• Large industrial and trading companies;
• Shipping companies;
• Financial services and banking institutions

A large number of these companies outsources various operations overseas and require accounts in these countries. These requirements represent a large benefit of offshore banking for such companies but there are other important advantages in holding offshore accounts, namely the fact that many offshore jurisdictions have tax free zones through which companies can operate their business taxes.

The  major part of offshore business accounts held by these costumers are current accounts or savings accounts. Nonetheless, there is a range of other account types which they usually held at offshore banks.