Offshore Bank Accounts In The Isle Of Man And What Is On Offer

The concept of offshore banking is not new but is reaching new dimensions every single day. The Isle Of Man is amongst the many secured and popular offshore banking hubs in the world. Isle of Man offshore bank accounts are attracting more number of investors due to their A grade ratings by Standard and Poor.

The high standards followed by Isle of Man banks make it a completely secured and confidential place for investors. Isle of Man is considered one of the safest places for investors planning to or already having an offshore account.

The Banking Act of 1975 governs offshore banking in the Isle of Man. The Isle of Man Policyholder Protection Scheme protects the investor. Being a member of EU Savings Tax Directive 2005, the tax charged and benefits given by Isle of Man may vary from its other counterparts.

Banks and financial institutions operating in the Isle of Man are of high repute and have been licensed by Financial Supervision Commission (FSC) only after passing a strict scrutiny. The FSC examines the historical records, financial status quality of management before granting a license.

Investors having an account in the Isle of Man enjoy a high degree of flexibility. Offshore accounts in Isle of Man are very effective for investors as they provide global access to their funds. Online banking, multi currency facilities, debit cards and credit cards for global access are the best features of these Isle of Man bank accounts. Some of the banks and financial institutions operating in the Isle of Man are:

  • Abbey National Offshore (Isle of Man).
  • Allied Dunbar Bank International Limited.
  • Bank of Bermuda.
  • Barclays International.
  • Coutts Offshore Private Bank.
  • Gerrard Private Bank.
  • Irish Nationwide (IOM) Limited.
  • Standard Bank Offshore.

Isle of Man is the favorite destination of various investors because of its stable political and economic conditions. It is never difficult to open an offshore bank account in the Isle of Man. A non-resident investor can apply for a bank account by completing some required forms and furnishing personal documents. The documents required to open an offshore bank account are:

  • Bank account opening forms (should be filled and signed properly).
  • Certificate of Incorporation (certified copy).
  • Copy of Memorandum and Articles of Association (certified copy).
  • Identity proof (passport, licenses etc.).
  • Bank reference (confirming your personal account in the bank).
  • Verification of permanent address.
All these forms and documents help quick processing of the bank account and an account is allotted as soon as possible. Isle of Man offshore bank accounts are getting positive response from their clients and investors. They are creating high goodwill and customer satisfaction is helping them to attract more investors and build a strong network of sophisticated banking facilities.