Offshore Banking in Thailand

Offshore Banking in Thailand. Why open an offshore bank account in Thailand?

When you move to Thailand, it may be wise to have a Thai bank account and an offshore bank account.

Use your Thai bank as a current account for every day transactions. Your offshore account you can use to hold USD, GBP, EUR, Singapore Dollars, HKD, etc. An offshore account can then hold the majority of your funds and then you can transfer those funds to your Thai bank account when you need them. This can normally be done online or by telephone.

Offshore Banking in Thailand. Why and Where?

Why do I need an offshore bank account?

For tax reasons. Also, it can be difficult transferring money out of a Thai bank account and may need tax receipts, proof of where the funds came from, etc.

Where are offshore accounts held?

Isle of Man, Guernsey, Jersey and Luxembourg are popular, secure destinations with strong regulatory bodies.

Which offshore banks are there?

Popular choices include Lloyds, HSBC and Standard Bank.

What do I need to open an offshore bank account?

You normally require a copy of your passport as well as a bank statement with your Thai address or offshore address on it. A utility bill or letter from the embassy confirming your offshore address can also be used.

Offshore Banking Account Fees

Fees vary depending one bank. The minimum amount is normally about 2,000 GBP.

Usually you need to keep the minimum in there to avoid incurring a monthly fee.

You need to speak to a financial adviser to find the appropriate offshore bank account set up for you.

Please contact our financial advisors or click here to email