Offshore tax benefits explained by HSBC Expat

Understanding tax

When you move abroad, your tax situation may change - and it's important you understand how this could affect your finances. If your money is offshore, tax may not be deducted from your savings and investments income.

  • No tax is deducted from the interest we pay* - interest on all our offshore accounts is paid gross, without the deduction of tax
  • Your offshore income may not be subject to tax - depending on where you live, the income you receive from an offshore bank or savings account or an offshore investment may not be subject to tax in your country of residence, as long as the money isn't transferred into your country of residence

Let us help you

Our wealth managers can help you structure your savings and investments in a tax efficient way - before you leave your home country, after you arrive in your new country and again when you move on. Find out more


Your tax obligations

While banking offshore may have tax benefits for you, tax rules differ from country to country. If you're unsure about your personal tax obligations, you should seek professional advice. It's your responsibility to disclose your income to the tax authorities.


Living in the EU?

If you live in the European Union, you may be subject to the European Savings Directive. Find out more


Things to consider

From local tax laws to saving with future moves in mind, our expat guide to money management covers some of the key things you need to consider. Read our practical guide to tax


Global Tax Navigator

Moving from country to country can be exciting, but local financial practices and tax systems can be confusing. Get country specific tax information with our Global Tax Navigator.


*If you live in the European Union, all the interest you earn from your accounts may be subject to the European Savings Directive. Find out more

Understanding expat tax

Understanding expat tax

Introduction to tax and the things to consider if you are moving or living abroad.

Understanding expat tax


Global Tax Navigator
Our products

Our products

From multicurrency accounts to global investments, our offshore products are designed especially for expats.

Wealth Management

Wealth Management

Our specialists in expat wealth management can help you grow and protect your wealth as you move around the world.

Foreign Exchange

Foreign Exchange

Need to convert one currency into another? Choose from our range of different foreign exchange solutions.

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