Offshore Bank Accounts vs. Investment Accounts
If you think you want an Offshore Bank Account, consider the advantages of an Offshore Investment Account with LOM:
Referral network to world's best accounting, tax, and
estate planning professionals
Offers international currency diversification in volatile times
Global access to all major securities markets
Access to thousands of the world's top investment managers
and best offshore funds (including our own 10)
Experienced, multi-market investment advisors and trade execution
Margin services, truly offshore settlements and clearing, and highly rated custody network for client assets
Secure online statement access
Our representatives can help answer your questions about opening an offshore investment account.
Differences Between Offshore Bank Accounts and Offshore Brokerage Accounts
Offshore bank accounts are administered by banks and offer traditional banking services which make it more convenient to utilize the assets held in the accounts for everyday spending, receipt and distribution of funds.
Offshore trading accounts are administered by investment dealers. The main advantage of offshore trading accounts as compared to bank accounts is that besides being able to hold cash in multiple currencies, they can also hold and transact in stocks and a number of other types of investments including bonds and mutual funds. They offer much greater flexibility in terms of providing access to a larger variety of investments.
Like a bank account, they offer services to allow investors to access their money such as wire transfers and issuing of bank drafts. They may also pay interest on cash balances and/or offer access to money market funds in several currencies, which usually offer better yields than holding cash. However, trading accounts are not intended to be used for day-to-day banking transactions. Funds received in such accounts are expected to be used for investment purposes within the account. There may be restrictions on the frequency of funds transfers, particularly for third party payments.
Open an LOM Account today.