High interest offshore bank accounts

Offshore bank accounts are accounts which are based outside your home country, and usually also outside your country of residence. The principal benefit of an offshore account is to avoid tax; however the private banks offering offshore accounts generally understand the requirements of expatriates and can often also offer high interest rates, bank accounts in multiple currencies and personal service.

Tax saving

Offshore bank accounts are often based in tax havens such as in the Channel Islands where little or no tax is paid on interest payments.  While non-resident, expats are still required to declare and pay tax on interest paid on UK bank accounts but there is no requirement to pay tax on offshore accounts. Unlike domestic bank accounts, offshore accounts do not deduct interest as source – it is up to you to declare the tax on your tax return if required. Note that in some cases you may be required to pay tax on your worldwide income in your country of temporary residence. Expats should seek the advice of a financial advisor and local tax accountant.


Offshore accounts cater to the needs of global expats, offering high interest accounts in numerous currencies in secure and reliable jurisdictions. Expats are often paid in one currency but spend in another, so multiple currency accounts make life much easier.

Interest rates

Despite intense competition it is worth shopping around for the best interest rates as they do vary significantly. In general, the larger the sum invested and longer you tie your money up for the higher the interest rate will be. It can be beneficial to consolidate all your cash into one account in order to get the best interest rate, but be sure to do research on the bank and ensure it has a reputable parent company and a good reputation.


Banks charge fees for international transactions, currency exchange and other services. Ensure you check the fee structures when opening up a new account. 

Login with your Facebook account (Recommended)
, after login or registration your account will be connected.