Although private banking is not a simple business, there is a very simple business model to keep in mind: "keeping rich people happy".
The definition of "private banking" varies from bank to bank but is generally taken to mean investment management offered on a personalised basis by a bank to an individual with disposable wealth of more than US$100,000 (although some banks do not offer private banking services to clients with disposable wealth less than US$500,000 or US$ 1 million).
Private banking is obviously not synonymous with "offshore", but the costs of a personalised relationship begin to be worthwhile at the US$100,000 + level in the light of the superior gains to be realised from offshore investment.
Private bankers probably prefer themselves to be approached and considered as objective financial advisers rather than as an investment provider, and consequently private banks may not be the most effective choice for a reasonably sophisticated investor who wants to play an active role in the management of his investments.
In selecting a bank, clients should consider service, credit worthiness, reliability and competence.
For over 35 years OCRA Worldwide has been assisting high networth clients to establish and administer offshore and international bank accounts and has developed useful expertise in identifying and working with suitable offshore banks and international banks.
All of the banks we deal with provide the high-quality service that our clients expect.
Follow the links below for more information about Account Opening Procedures and the banks we work with.
Selecting an Offshore Bank
Offshore Bank Account Opening Procedures & Maintenance
Credit Card and Debit Card Services
A bespoke 'offshore' solution can be complex and requires careful planning and execution. We therefore encourage our clients to contact us directly, without obligation.
All of our consultants in our offices provide a Free Initial Consultation and will gladly assist with advice on how to approach your particular challenge.
To select one of our multilingual offices, click here for a list of our office contact details. Alternatively, click on the button below and request that a consultant calls you back.
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