# Offshore bank

**URL:** <https://community.nomadgate.com/t/offshore-bank/25972>\
**Category:** Finances\
**Tags:** tax, banking\
**Created:** [August 2, 2020, 1:06pm UTC](https://community.nomadgate.com/t/offshore-bank/25972 "2020-08-02T13:06:46Z")\
**Posts on this page:** 5\
**Page:** 1

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**Author:** ![pekola.samip](https://community.nomadgate.com/user_avatar/community.nomadgate.com/pekola.samip/32/3846_2.png) [@pekola.samip](https://community.nomadgate.com/u/pekola.samip)\
**Post date:** [August 2, 2020, 1:06pm UTC](https://community.nomadgate.com/t/offshore-bank/25972/1 "2020-08-02T13:06:46Z")

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Continuing the discussion from [Offshore account](https://community.nomadgate.com/t/offshore-account/18224):

In another chain, there has been a lively debate about the possibility of opening a bank account. There seems to be plenty of different options to choose from, depending on the prevailing circumstances. Nowadays, you can either open your own personal bank account anywhere in the world or another even safer way is to set up your own offshore company and perhaps select separate people in the management and ownership registers if necessary.

> **[How To Open And Access an Offshore Bank Account](https://www.investopedia.com/articles/pf/11/opening-an-offshore-bank-account.asp)**
>
> You can open an offshore bank account to bank in another country, but the process can be take longer. Here's how opening an offshore bank account works.

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**Author:** ![mjohnpaton](https://community.nomadgate.com/letter_avatar_proxy/v4/letter/m/58956e/32.png) [@mjohnpaton](https://community.nomadgate.com/u/mjohnpaton)\
**Post date:** [January 13, 2023, 9:17am UTC](https://community.nomadgate.com/t/offshore-bank/25972/2 "2023-01-13T09:17:52Z")

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This is a useful article but could not help me, so far. I live in Zambia and have an offshore, multicurrency account with a UK bank in Jersey into which are paid my UK state pension, another UK pension and from which I make payments in the UK and elsewhere. I have had so many problems with them recently (after 60 years of banking with them) that I am looking for an alternative. I have looked at almost all those mentioned on this site but each has a problem for me:

1. They don’t cater for Zambia residents
2. They want $50K plus to open an account  
[Wise](https://nomadgate.com/go/wise) has put me on a waiting list.  
Any suggestions or do I just persevere with my current bank?

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**Author:** ![tommigun](https://community.nomadgate.com/letter_avatar_proxy/v4/letter/t/898d66/32.png) [@tommigun](https://community.nomadgate.com/u/tommigun)\
**Post date:** [January 15, 2023, 8:08pm UTC](https://community.nomadgate.com/t/offshore-bank/25972/3 "2023-01-15T20:08:51Z")

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Have you tried the HSBC Expat account?

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**Author:** ![mjohnpaton](https://community.nomadgate.com/letter_avatar_proxy/v4/letter/m/58956e/32.png) [@mjohnpaton](https://community.nomadgate.com/u/mjohnpaton)\
**Post date:** [January 16, 2023, 7:12am UTC](https://community.nomadgate.com/t/offshore-bank/25972/4 "2023-01-16T07:12:23Z")

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Thank you and yes I have. Like other banks they require a more substantial deposit than I am prepared to make as it earns minimal interest and I can earn more by investing elsewhere.  
Regards

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**Author:** ![Saibinu](https://community.nomadgate.com/user_avatar/community.nomadgate.com/saibinu/32/6808_2.png) [@Saibinu](https://community.nomadgate.com/u/Saibinu)\
**Post date:** [May 5, 2023, 9:18am UTC](https://community.nomadgate.com/t/offshore-bank/25972/5 "2023-05-05T09:18:46Z")

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[Paxum Bank](https://paxumbank.com/) - You can open a personal or business account with them. The transfer fees are a bit high, but the account opening and management are free. They also accept Zambia residents.