Friday, 26 November 2010

What is an offshore credit card?


An offshore credit card, linked to an offshore account (link) works almost identically to a visa/MasterCard linked to a high street bank.

An offshore credit cards are accepted in almost 14 million locations worldwide, shopping internationally on the internet and at ATM worldwide to access cash.

An offshore credit card can be either a corporate or personal credit card. A corporate offshore credit card can be used to pay for equipment, expenses and employee salaries for your offshore company. A personal offshore credit card can be used usefully used on holidays or travel abroad.

Many offshore credit cards are expensive to set up with astronomical fees, but you can have a free offshore credit card in $ or GBP with a free priority pass membership, that gives you access for 400 airport lounges worldwide when you open an offshore account with Henderson Morgan.

It is not illegal to have funds offshore; depending upon the jurisdiction in which you live you may be legally obliged to declare these funds. Always consult a Wealth Management professional.