Offshore banking with HSBC Expat – what expats need to know

Things you should know

Before you open an account or choose to invest with us, there are some important things you need to know.

Relationship Balance

You need to keep a minimum amount of money in your HSBC Expat accounts and investments, unless you're already an HSBC Premier customer. To become a customer of HSBC Expat, the minimum Relationship Balance is £60,000 or currency equivalent.

Your Relationship Balance is the total average credit balance, calculated every calendar month, of all your HSBC Expat accounts and any investments you have with HSBC Fund Administration (Jersey) Limited or HSBC Funds Nominee (Jersey) Limited - as long as they're all in the same name(s).

If you are already an HSBC Premier customer and hold Premier accounts with other parts of the HSBC group, you will receive the Premier service with us, without the need to maintain the minimum £60,000 Relationship Balance.

To find out more about how we calculate your Relationship Balance visit the Download Centre to download our Personal Banking Terms of Business.

HSBC Premier service tailored to expats

New customers of HSBC Expat qualify for our HSBC Premier service which provides a range of benefits to help you manage your personal economy.

HSBC Premier is free of monthly charges, however, a £35 underfunding fee will apply for any given month where your Relationship Balance falls below the minimum Relationship Balance of £60,000.

Our fees and charges

From credit card charges to overdraft fees you'll find details on all our fees and charges in our Tariff of Charges.

Visit the Download Centre to download our tariff of charges

Tax obligations

Tax rules differ from country to country and residents of certain countries are subject to different tax reporting agreements. Find out the key things you should know about how information is reported to the relevant tax authorities.

Our Global Tax Navigator can give you more guidance on how your tax obligations could change if you move to a different country.

If you are unsure about your personal tax obligations, you should seek professional advice.
While banking offshore may have tax related 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.

Currency equivalent applies to all the figures quoted on this page.

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