The majority of people who open an offshore bank account fall into one of the three following general categories: -
1) High Net Worth Individuals - these are people with a disposable income in excess of one million US dollars.
2) Expatriates - these are people who are located overseas away from their home country either on an employment assignment or in retirement.
3) Business Owners - generally these are individuals who own companies whose shares are owned by family members or a close working partnership.
According to statistics the majority of individual offshore banking clients come from Europe, Australia and North America, but more recently larger numbers of Eastern European, African, Indian and Asian individuals have found that offshore banking structures suit their own personal requirements.
The type of person who falls into the above three categories range from those with inherited wealth to those who have earned it by themselves and they all utilize offshore banking for the following benefits:
pre-immigration or repatriation planning
privacy and asset protection.