Password must be 8-15 alphanumeric characters with these requirements
- Minimum one number (0-9)
- Minimum lowercase letter (a-z)
- Minimum one uppercase letter (A-Z)
- Minimum one special character "#?!@$%^&*-+<=>"
- Example password 99azTR?!@
Offshore private banking is one of the minor aspects of the well-known private or street banking. Private banking is one of the essential offshore services provided to reduce taxes and perform proper tax and hereditary planning. It is a type of banking exclusively for people with a high purchasing power who need special attention and personalized service for tax issues and management of their assets. The minimum amounts required to become a private banking client vary depending on the country, in Switzerland the client must have a minimum deposit of 1 to 2 million Swiss francs and in Spain the minimum deposit should be minimum 100,000 to 300,000 euros.
Private banking is a sector with a lot of competition and what customers value the most is customer service, return on investment, manager's concern for the taxes the client pays and the personal relationship with the manager. Being clients with high purchasing power it is unavoidable to have to pay very high income taxes therefore a special attention from the bank is required in order to reduce them. The main activities of private offshore banking are asset management, investment management in both the country of residence and abroad, tax planning and inheritance. Offshore private banking has attorneys and tax advisors specializing in these subjects to reduce taxes by setting up offshore companies and Trusts. The profile of a current client of private banking is every day less faithful and his biggest concern is the performance of his money and banking secrecy.
The main advantages of offshore private banking are the following:
The main disadvantages of offshore private banking are the following: