Opening a foreign bank account

[killerwhale]

I would be grateful for some advice. What aret he implications if I open an account in another country like Canada or other EU member state (other than Ireland) and deposit some savings. What are the difficulties one would encounter with these accounts other than having to visit that country to get access. Currently i have my hard earned savings in Irish banks only and to be honest I am a little nervous about this...Any recommendations that I might need to consider before doing this i.e tax etc?

 

[Lightning]

Some considerations ...

You will need to declare all your deposit interest with the Revenue.

have a good list of offshore deposit options.

You do not need to be present in the country, with many offshore accounts you can apply online.