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H
hender
BOI, SBI - both can help you with Japan/Offshore banking... You can check and meet... If they help you as per your requirement....
You can check now in gift city Gujarat there are many options...
aayusharyan
aayusharyan
@hender Well they require an IP of 500K CHF (~5,56,11,000 INR).
aayusharyan
aayusharyan
But do I need to have an address in Gujrat?
H
hender
Many benefits available for IFSC Gujarat, you have to check and coordinate with them for a better understanding of your requirement and their offering...
aayusharyan
aayusharyan
Thanks bro.
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cardio_guy
cardio_guycardio_guy is verified member.
What is offshore bank account? What are the benefits?
Related Question 1 - those who have HSBC premier account - that bank allows you to open premier account in other countries. Is that somehow related to this?
RQ 2 - What is this GIFT city thing? Is it some way related to offshore bank account?
RQ 3 - Does NRE / FCNR accounts opened in India be anyway related to offshore accounts?
SSV
SSV
I have an ANZ bank account in Sydney..
aayusharyan
aayusharyan
@cardio_guy
Offshore bank accounts are accounts opened in another country that can be operated by your home country.
HSBC Premier is an account in India which allows bank account to be migrated to another country when you move there, (that is not an offshore account).
GIFT City is in Gujrat which has things more streamlined AFAIK. Not sure.
No, NRE accounts are not offshore accounts, they are opened on your citizenship in India...
aayusharyan
aayusharyan
@SSV Nice. What documents do they usually ask?
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SSV
SSV
@aayusharyan
This account I opened when I was a student in Australia.. not from India
aayusharyan
aayusharyan
Got it.
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H
hender
@cardio_guy For a basic idea...
Different setup of accounts as per individual, Firm, company, taxation, citizenship, investment, foreign currency limits, inward outward and based on other things, so are the options available.
Many guidelines and many department involves..
Anupama_Jha
Anupama_Jha
Abhi thode time pahle open ho rha tha na, Charles Schwab account free me. @telescope pls enlighten
shu_sha_
shu_sha_
Emirates NBD
telescope
telescope
@Anupama_Jha it's not really a bank account. It is a brokerage account. Just think of it in this way: imagine you are a foreigner and opened a zerodha account to keep money in India and then take back your money from zerodha to your country. Schwab is similar for us.
aayusharyan
aayusharyan
Ohh no no, I don't want a Brokerage, I want a full functionality bank account..
BTW, how did you open a Brokerage with Charles Schwab @telescope ?
telescope
telescope
Go to international.schwab.com and apply. If you want referral code them dm me.
aayusharyan
aayusharyan
@telescope How does it handle Taxation on dividends?
telescope
telescope
Getting full fledged bank account in a foreign country is difficult without having a local residential address. This is true for almost all countries. If you are residing in a country (outside india) then it is not really offshore, because you are a resident there and have every right to open an account.

True offshore account is a third-party country where you don't normally reside in. HSBC has expat (based in Jersey/channel island). But it's costly. And I heard that service is not good either. HSBC can also open offshore bank account in many other countries for Premier banking and private banking customers. Hsbc doesn't require local address proof.

Similarly citigold IPB Singapore also opens offshore account but deposit requirement is $200k

And lastly, profile post is not the right place to discuss these. Open a thread to discuss about this.
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