Offshore banking was created for those who wish to keep their wealth and personal expenses safe in an account that no one can touch but the banker. The idea is that no one knows where your assets are but you, and not even you will see them until desired. Offshore banking is a completely private experience which is another atractive luxury to it. Since there are hundreds of offshore banking companies, the most known being usually being in switzerland, although there are also offshore banks in Jersey, Luxembourg, and so on.
The appeal to offshore banking in such a foreign place is simply that no one will be able to reach your assets. All offshore banks have differing reputations and advantages and disadvantages, depending on your specific investment needs. So finding the right one is vital. But where do you begin? Do you begin with products, companies, jurisdictions, or with all of them?
Intermediaries will usually tell you that an excellent product should be the starting point for any banking decision. But banks and building societies claim the institution’s brand and reputation are essential. Both have a point, of course, but the jurisdiction’s regulatory regime (and its service reputation) are vitally important to you, the investor.