Canadian Offshore Banking
Canadian offshore banks have a very strong presence in Barbados and are leaders in the island’s banking sector. They offer a full range of services including retail banking, private banking and international wealth management services for individuals, businesses and institutions.
The leading Canadian banks operating in Barbados include:
• RBC Royal Bank of Canada
• CIBC FirstCaribbean International Bank
These well-known Canadian banks offer both Canadian offshore businesses and individuals a wide variety of banking services coupled with the excellent customer relationships with which clients are accustomed to at home. These Canadian banks all have first-class reputations and a history of stability which goes a long way in assuring clients that their funds are safe and protected. Canadian banks are widely viewed as amongst the safest banks in the world and the three mentioned above regularly appear on banking safe lists worldwide.
In addition to these international banking giants, there are over three dozen other Canadian offshore banks that have an extremely strong presence on the island. In fact, Canadian offshore banks account for 78% of the 50 registered international banks in Barbados.
Canadian Offshore Private Banking
Canadian offshore private banking services offer high quality, personalized banking services through a dedicated relationship manager to serve all of a client’s banking needs. These services are available to Barbados offshore companies as well as expatriates living both in Barbados and abroad.
Clients can open bank accounts in most major currencies including Canadian Dollars, US Dollars, Euros, United Kingdom Pounds and Barbados Dollars. There are no foreign exchange controls on these accounts and clients have the ability to transfer their funds around the globe with ease using these banks’ extensive international networks.
Access to all regular retail banking services are also provided including debit and credit cards, online banking and term deposits. Offshore businesses also have access to corporate credit cards, international wire transfers, online banking, currency hedging and financing.
If you would like a personal recommendation on our preferred choice for private banking services or would like a referral to one of the leading Canadian banks, please contact us.
Canadian Offshore Wealth Management
Canadian international banks offer an entire range of wealth management solutions including wealth structuring, investment advisory services and international brokerage services.
With different rates and services available, it is highly advisable to shop around and organize meetings with the various banks and wealth managers to find the best fit. Please feel free to contact us for additional insight into the rates charged and for assistance in scheduling meetings with the wealth managers who are part of our contact network.
Wealth structuring services assist clients in enhancing their global wealth through the use of various structures internationally while reducing their international tax burden. These services can also serve to guard wealth through asset protection and increased privacy, and to transfer wealth through estate planning. Canadian offshore wealth management services can advise clients on the use of trusts and corporate structures while utilizing their extended international reach to optimize planning across various jurisdictions.
High quality investment advisory services are also available through the Canadian offshore banks in Barbados. The investment managers will work with clients to determine their specific investment strategies in order to create internationally diversified portfolios that best satisfy their risk/reward profile, which may range from capital preservation to aggressive growth strategies.
In addition, Canadian offshore investment managers have access to leading international funds which allow them to effectively diversify a portfolio across various asset classes, investment styles, geographic regions and market capitalizations.
International brokerage services offer offshore clientele access to all major international exchanges.
Canadian Offshore Banking: The Worldwide Leaders
Canadian offshore banks are the worldwide leaders for international banking. They offer clients high quality services in a safe, stable and highly regulated environment, while operating within a far reaching international network spanning the globe.
These banks have a strong presence in Barbados where they play an important role amongst the island’s leading banks. The familiarity that these banks offer Canadian offshore businesses located in Barbados add to the island’s appeal as a leading low tax jurisdiction where investors can be extremely confident in the quality of the banking institutions in which their funds are held.
With the Barbados Canada tax treaty adding further support to the low tax opportunities that Barbados offshore companies offer to international Canadian businesses, it is no wonder that Canada has become a major player in the Barbadian economy. Canada now provides the island with its largest source of foreign direct investment.
The leading Canadian offshore banks operating in Barbados offer Canadian businesses a safe port of call from which they can expand their international business operations and continue to prosper globally while reducing their international tax burden and increasing shareholder wealth.