Offshore banking

Offshore banking (offshore private banking or offshore wealth management) refers to the practice of managing a person’s wealth outside of their country of residence. It is the opposite of onshore banking.

If, for example, a person or entity residing in Germany has their wealth managed in Switzerland, Singapore, or anywhere other than Germany, they are using offshore services.

More on this topic:
Onshore banking explained
Private banking in Switzerland

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Expert Benjamin Manz
Benjamin Manz is CEO of and an independent expert on banking and finance.