HXL Offshore Banking Section
Living in a world with greater political and economic uncertainty is exposing your wealth unnecessarily to global risk. By diversifying your assets into different countries, your wealth is protected from various economic, political and legal risks and thereby always having access to your funds.
An Offshore Bank Account is one of the three pillars of the HXL Asset Protection Program that protect assets from political uncertainty, economic risks, frivolous litigation and civil asset forfeiture (bankruptcy).
Who is Offshore Banking for?
Offshore Banking is for law-abiding, hard-working people who have worked very hard in legitimate businesses to accumulate wealth and are concerned about preserving and protecting this wealth for themselves, their family and for future generations.
Mitigate Your Political Risk
The biggest threat to your wealth isn?t market risk. It?s global political risk created by incompetent governments and corrupt bureaucrats in your home country. From North Korea, China, Middle East, South America and the increasing erratic behaviour from President Trump, more than ever, it?s important to ensure your wealth is secured.
The reason to place some of your wealth overseas is to avoid any sudden unfavourable change in government policies that may decrease the value of your assets or restrict the ability to move your assets. Governments are increasingly penalising the wealthy for their success in the name of ?equality?. If your home government imposes capital controls, an offshore bank account would help to ensure you can access your money when you need it most.
Offset Your Economic Risk
Government economic policies are also putting your wealth at risk. Government debt levels are increasing annually with no prospect of ever being repaid. Targeting the wealthy by imposing unfair taxation increases, bank deposit taxes, bail-outs and capital controls are just a few examples of government policies that are increasing being used to try and fix budgets. These measures may decrease the value of your assets or restrict the ability to move your assets.
Offshore banks are safe
The global financial crisis exposed many failures of major banks across the world. Interest rates offered on deposits are at historic lows and in some cases, are below the rate of inflation. However, there are a number of offshore banks in different jurisdictions across the world that are safe, conservative, well-capitalised and offer higher interest-rates ? even on US Dollar accounts. These offshore banks are operated more conservatively than global banks and do not gamble with customer deposits.
Offshore banks are legal
Despite what you have heard, having an offshore bank account is completely legal. It is about legally diversifying your wealth into well-capitalised banks and mitigating growing political and economic risks ? not about tax evasion.
Setting up an offshore bank account in the correct jurisdiction is one of the three pillars of asset protection that we recommend at HXL. Securely depositing some of your savings offshore in the right foreign bank is a prudent strategy in safeguarding your wealth from both political and economic shocks globally and in your home country.