HSBC Offshore, Jersey
Experts in Expats
Offshore banking – what is it and is it reputable?
What is offshore banking?
Offshore banking is the management of financial assets in a country other than the one
where you live, usually in a low tax jurisdiction
Dispelling the myths
Offshore banking is not illegal
Offshore banking is not dishonest
Offshore banking is not just for the rich or famous
Offshore banking is not about hiding money
Why bank offshore?
For some, there are very real and legitimate potential taxation advantages
For those living in a politically or economically unstable country, placing money
offshore can be a better alternative to keeping it onshore
For the vast majority, it is all about ease of money management
Offshore banking – where does it fit in?
Home country
Covers domestic banking needs in the country
you’ve moved from:
• transactional banking to service any financial
commitments in home country, e.g. house,
family at home etc.
Host country
Covers domestic banking needs in the country you’ve
moved to:
• day to day transactional banking in local currency,
with local knowledge, to service local financial needs.
Offshore banking
Covers money not needed on a day to day basis, giving it
a central home whilst you’re an expat:
• maximising opportunities and managing risks of expat
finances in a reliable and stable jurisdiction.
Jersey as an offshore centre – reputation and stability
Jersey as an offshore jurisdiction:
A stable and reputable offshore centre for
nearly 50 years
For residents there is no capital gains tax,
inheritance tax or estate duty, or capital
transfer tax.
Regulatory framework:
Jersey Financial Services Commission
(JFSC) established in 1998 ensuring high
regulatory standards in place
JFSC works closely with UK Financial
Services Authority
2009, Jersey Depositor Protection Scheme
established (£50k per person)
Key fact:
G7 Financial Stability Forum Jersey named as one of the top
finance centres
Source - www.jerseyfsc.org
Key fact:
Apr-09, OECD added Jersey to
their list of jurisdictions 'that have
substantially implemented the
internationally agreed tax
standard'
Source - www.oecd.org
Key fact:
IMF report (Sep-09) - Jersey ‘top
of the table’ of international
finance centres
Source – www.offshoreoam.com
HSBC Offshore, Jersey – an overview
HSBC has been offering offshore banking services from Jersey for over 40 years
Specialist savings and wealth management solutions for expats
Joined up HSBC Premier service for our truly internationally mobile customers
100k customers in over 200 countries and territories worldwide
On the ground representation in key expat areas - offices in Dubai, Hong Kong
and South Africa
Sponsors largest expat survey to understand life as an expat
Named ‘Best International Bank’ in 2008 (International Investment’s International
Fund and Product Awards)
Key fact:
27% of our customers are
HSBC Premier customers with
another part of the Group
Source – HSBC Bank International
sales and trading pack
HSBC Offshore, Jersey – what’s the benefit?
“Experts in Expats”
Expat Expertise: trusted advisor who understands the complexities and opportunities
of managing expat finances
Relationship and wealth management, simple and rewarding savings in a politically
and economically stable region, optimisation of potential tax opportunities,
multicurrency solutions and anchor point for your finances.
International Capabilities: extensive geographic reach with local expertise around the
world
International Premier recognition, joining up of home, host and offshore banking,
global wealth management expertise, financial strength and stability of the
HSBC Group.
HSBC Offshore, Jersey – benefits in detail
Expertise & knowledge
Understanding expats – talk to people who understand your
situation, know where you’re coming from and who can point
you in the right direction
Independent financial advice – advice which suits your life,
helping you make the most of your expat status today and
plan for tomorrow
Specialist investment and protection solutions – specifically
chosen from the whole market place, using a wide range of
criteria, with expats in mind
Multi-currency banking – your money doesn’t have borders so
you need a bank that knows how to help you manage multiple
currencies
Shariah Law – helping you understand and manage the
impact on your finances
HSBC Offshore, Jersey – benefits in detail
Simplicity & control
Savings and investments in one place – when you move you
don’t need to worry about finding a new home for your money
‘Global View’ and transfers for your HSBC accounts worldwide
– the simplest way to get a one-stop view of your money and
move it around when you want to - not available in all countries
‘Assetmaster’ investment nominee service – making your life
less complicated by simplifying your investments and holding
them in one place - not available in all countries
Multi-currency transactions – flexibility of sending money back
and forth between more than one country or currency, simple
and seamless transactions at preferential rates
Choice of ways to bank – time zones are irrelevant, always
open, whenever you need us, by phone, internet and mobile
Joined-up service – Managers in Dubai, Abu Dhabi and Jebel
Ali branches. Your home country and host country banking
under one roof in the UAE
HSBC Offshore, Jersey – benefits in detail
Reassurance & security
24/7/365 relationship management – with you every step of the way, thinking of
the things you need, so you don’t have to
Globally portable life cover – making sure your family’s looked after wherever
you are in the world (available in certain countries)
Reputable offshore jurisdiction – know your money’s in good hands in Jersey
Part of the HSBC Group – one of the world's largest and most trusted banks,
helping over 100 million people worldwide to manage and save for their futures
HSBC Offshore, Jersey – benefits in
detail
International recognition
HSBC Premier – wherever I am in the world,
I get recognised as one of HSBC’s most
valuable customers
Issued by HSBC Bank International a trading name of HSBC Bank International Limited, HSBC House
Esplanade St Helier Jersey JE1 1HS. HSBC Bank International is regulated by the Jersey Financial
Services Commission for Banking, General Insurance Mediation, Investment and Fund Services
Businesses. Licensed by the Guernsey Financial Services Commission for Banking, Collective
Investment Schemes and Investment Business. Licensed by the Isle of Man Financial Supervision
Commission. HSBC Bank International Limited Representative Office Dubai.
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This presentation is intended for discussion only and shall not be capable of creating any contractual
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International Limited accepts no responsibility for any errors or omissions contained therein.
Your tax situation will depend on your personal circumstances and you should refer any tax planning to
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advice or a recommendation to any reader of this material to buy or sell investments.
©HSBC Bank International Limited 2010. All Rights Reserved MC8327/DUBAB/MH/2206443