LOM's Best Offshore Bank Accounts

Offshore Accounts 

LOM provides investment accounts to international investors looking to open an offshore bank account.   Maintaining an offshore account with LOM  may provide many advantages.  These advantages may include:

Access – to a wide range of investment management products to help manage your wealth internationally from a central location.

Flexibility – Real time access to international stock exchanges and markets.

Stability – If you have concerns about local politics, economic or financial instability, or unjustified law suits against you or your business in your country of residence, and would prefer to hold some of your financial assets offshore.   

Profits – In some cases, companies can accumulate profits on worldwide earning in offshore account and not be taxed on those profits until repatriated; as always individuals or companies should seek proper tax advice.

Privacy – Strict privacy laws and regulations that protect your financial details from criminal intent.

Tax neutrality – No taxation on investment income or capital gains levied by the offshore jurisdiction,  allowing for tax neutrality and fiscal clarity in financial and estate planning.   

Speciality Investments – Access a diverse range of investment products that might not be available in your country of domicile.

Freedom – Freedom from exchange controls or restrictive investment regulations in home country.

Diversification – Ability to hold international investments and multiple currencies.

International advice – Dedicated LOM private wealth managers with a global outlook and international investment experience.

Choice – LOM operates an open architecture platform, which allows for clients to access the best external managers and products.

Network – As a private client of LOM you join a boutique financial service organisations.  We understand the global needs of high net worth individuals.

While the original term ‘offshore account’ referred to accounts outside the country of residence,  the term has evolved to also mean accounts located in a low-tax or tax neutral jurisdiction that provides financial and legal advantages.  At LOM an offshore account has evolved to include investment, trading and access to global exchanges, currencies and offshore funds rather than a staid bank account.  An offshore LOM account is your platform to international investments.

Best Offshore Bank Accounts From LOM

 

Types of LOM offshore bank accounts

LOM can provide a number of options for your investment account.  Your requirements may be for a traditional brokerage account with a broker assigned to execute trades or a simple online trading account without a broker.  Your investment needs may require a dedicated private wealth manager for advice and a more traditional private banking relationship.   All investment accounts are flexible and can hold international stocks, bonds, mutual funds, cash, options, futures and commodities.

 

Margin Accounts are available to qualified customers.   LOM provides margin loans to customers based on the securities already in the account, in order for the customer to purchase additional securities.  The securities in a margin account act as collateral for the loan.  The leverage serves to magnify both the gains and losses in an account and is appropriate only for investors that understand the risks involved.  In order to trade futures or options, or to sell securities short, you must open and be approved for a margin account.  Margin accounts also receive a preferred interest rate for many currencies on their available cash balances over $10,000. 

Opening an offshore Bank Account With LOM

 

Opening an offshore account

Opening an LOM offshore account is similar to opening a bank or investment account in your home country but somewhat more due diligence and verification may be  required to satisfy strict local regulatory and anti-money laundering requirements.   At LOM we have kept the account opening process as simple and convenient as possible for both individual and corporate account applicants.      

Wherever you live, an offshore or international account with LOM gives you the opportunity to grow and protect your money in an economically stable and central location.  Despite the mystique surrounding offshore accounts and investing, it is relatively simple to open an account.

 

LOM offshore banking

Choosing a LOM account base currency
Account holders require the ability to hold many different currencies and in the past had to open different accounts to hold different currencies.  An LOM account holder has the ability to hold multiple currencies in just one account and settle multiple foreign exchange transactions.  When opening an LOM account you will need to choose a base currency for reporting purposes.  The ability to hold numerous currencies in the same account can be a highly valuable feature of an offshore account as it allows the holder to settle investments in many different regions in the local currency.   

Mystery of offshore accounts

An offshore account is an account located outside the country of residence of the owner or investor.  A majority of offshore banks and firms are located in island nations but the term ‘offshore account’ is used figuratively to refer to such accounts regardless of location and may include bank and investment accounts in landlocked nations and financial centres in G8 nations.    

Today, there are much higher due diligence requirements in place in most offshore domiciles than in many onshore jurisdictions.  However, virtually any problem that does arise is picked up by the media, as the mystique of offshore accounts makes for better headlines.  The reality of offshore is very different, with most financial companies taking prudent measures to ensure their business and clients are protected from nefarious dealings and that the services offered are used for legitimate business.

Offshore financial centres from London, Bermuda, New York,  Bahamas to Hong Kong offer you more freedom in the way you manage your wealth.  Today, offshore accounts offer a stable, sophisticated and secure location to manage and grow the wealth you have worked so hard to build. 

LOM provides Private Banking services which include custody, investment, advisory and tailored financial services to high net worth individuals and are more personal in nature, as a dedicated account advisor or wealth manager is assigned to manage the account of a wealthy individual or family.  Products offered include equities, fixed-income securities, mutual and speciality hedge funds, foreign exchange, commodities, structured products, and loans.

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