How International Banking Can Transform Your Business

International banking in business can benefit you in many ways. You will have the ability to move your profits to safe havens designed to maximize your earnings and minimize your tax liability. Having an international banking presence can also give you access to other business with a more global presence and help you expand your client base and business prospects.

International banking can be for any size and type of business. Establishing a relationship can be as easy as going online and filling out several forms. Banks in other countries that observe the same rule of law as here in United States with respect to money-laundering and customer protection rules are preferable to those with lax regulations and uncertain political environments.

You can use international banking to enhance your business and take advantage of the difference in exchange rates. A perceptive international banker will work with you to maximize your banking relationship and help you reap the benefit working with the international bank.

Expand Your Business Connections

Expanding your business connections is one way an international banking relationship can transform your business. Establishing an account at a respectable Swiss-style bank gives you an ability to seek business partnerships and opportunities with non-U.S. businesses. Through these connections, you can find new markets for your products and services as well as develop exclusive distribution arrangements for their products and services.

Offshore Banking Accounts

Places like the Grand Cayman Islands and Bahamas are a few of the exotic locations where you can establish an international banking relationship. Aside from the beauty of these tropical retreats, the banks are Swiss- and European-style banking institutions that are professional and offer the level of security you would expect from these institutions. The banks are branches of the old line Swiss and European banks located in London, Zurich and Amsterdam and reflect their traditions.

Create a Tax Haven

International banking that is done in an offshore account such as the Grand Cayman Islands provides a tax shelter for the business’s revenue. Places in the Caribbean such as the Bahamas and Grand Caymans are not required to report deposits to the IRS that are deposited by U.S. companies. Although there have been attempts to force disclosures of institutions such as UBS AG and Credit Suisse (both headquartered in Zurich) for the payment of back taxes, these efforts do not have an effect in any of the Caribbean tax havens.

Establishing an international banking relationship can provide some powerful benefits for your business. Investigate the legitimacy of the banks you choose to work with to ensure that the relationship is one that is beneficial for you and your business.