They offer similar services to their UK counterparts, but with a number of additional benefits. If you intend to work and live abroad you will need to plan carefully to ensure that you maximise the benefits. Ensure you plan before you go, while living abroad, when returning home or when moving to another country. If you have already moved abroad, you can still benefit from offshore banking, so contact an offshore bank as soon as possible. They offer a wider choice than is generally available from UK high street banks and building societies.
Offshore banks benefit from international knowledge and experience.
Some have representative offices in key expatriate centres, so are in a stronger position to advise expats on making the most of their money internationally than their UK counterparts. International tax rules are complex and whilst specialist advice may be necessary, many offshore banks can provide general tax guidance for some of the major expatriate centres. Leaving the UK You may be able to save income tax on UK earnings in the year you leave. If living overseas for more than one UK tax year, the Inland Revenue will probably regard you as 'non-resident'. As a non-resident, bank interest from offshore accounts is not considered UK income so is exempt from UK income tax.