Which banks offer open offshore accounts to Irish residents?

M

Minnow2

Registered User
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Hi all,

I am trying to open an offshore bank account for legitimate reasons. Can anyone advise a bank to use.

I have tried HSBC and Standard Bank and both have refused to open an account for an Irish resident. As far as I know, none of the Irish banks offer this service any more.

Thanks in advance for your help.
 
What exactly are you trying to do, and you might get a clearer answer.

Are you an Irish resident trying to open an account with a foreign bank, or non resident trying to open an Irish account?
 
I am an Irish resident but non-Irish domiciled. I need to open an offshore account for some foreign income which I don't want to remit to Ireland.
I am aware that I need to inform Revenue when opening account.
 
Ah ok. None of the Irish Banks have offshore locations anymore.

Not sure if you've tried, but if you contact the UK banks, you will need to get the right division. Barclays for example have an International Bank Account, available through their wealth management division. You need to have a minimum balance of 25k in it.
I started an application online for their offshore account saying I was Irish, and they told me what documents I needed and let me continue.
 
For smaller amounts it might be worth considering Revolut. It can now receive "USD, GBP, EUR, PLN, CHF, DKK, NOK, SEK, RON, SGD, HKD, AUD, NZD, TRY, ILS, AED, CAD, HUF, JPY, MAD, CZK, QAR, THB, and ZAR".

Biggest drawback, at the moment, is that they don't have full banking license, so no deposit protection insurance. Having said that, some offshore banks don't have deposit protection insurance either.

Personally, I find it very convenient way to make and receive GBP payments.
 
Are you looking for a pure bank account or do you want to invest?

And roughly how much is involved?

Feel free to be deliberately vague...e.g. >€100k, >€500k, >€1m, etc
 
On that basis, sorry, I’m not aware of a solution.

Could you open an account in (say) Newry or somewhere else just over the border and only an hour away?
 
Bronte said:
What's with the vagueness. If you give us a clue as to what you want the account for you might get better advice
Click to expand...

I don't think it's prudent to give detailed information on a public forum.
As stated, I will receive income from abroad which is not liable for Irish tax if I don't remit it to Ireland. I am looking for advice on what bank will accept to open an account for an Irish resident.
I think that is adequate information unless there is some specific aspect you think is missing?
 
I am in the same situation, I leave the income in the country I earn the income in, revenue are only interested once you bring it back to Ireland as you have stated, can you not open an account in the country in which you have earned the income.
 
Why not open a bank account in the country where the income arises?
 
jpd said:
Why not open a bank account in the country where the income arises?
Click to expand...
It's coming from a central fund in Dubai. I have no connection not have I ever been there.

I seem to have found a short term solution using Transfer Wise.
Thanks for suggestions.
 
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