Capstone Project Topic on

Offshore Banking
Presented By
Nisha D. Bhagat
MMS IV
Roll No.305

Offshore Banking
Offshore simply means anything outside of a
countrys jurisdiction.
An offshore bank is a bank or an investment
institution located outside the country of
residence of the depositor, typically in a low
tax jurisdiction that provides financial and
legal advantages.

Objective Of The Study

To understand the concept of Offshore
Banking.
To cover various aspects relating to Offshore
Banking.

Offshore Banking Services

Acceptance of Deposits
Credit Services
Wire- and Electronic Funds Transfers
Foreign Exchange
Other Services

Online Offshore Banking

Online offshore banking represents an internet
bank system through which a holder of an
offshore corporate or personal bank account,
with both offshore credit card and debit card,
can manage and monitor his/her account(s) via
internet from all over the world.

Offshore Bank Accounts

In the current economic climate, many persons
are turning to offshore banking as an
alternative method of saving and investing
their hard earned money.

Offshore Bank Accounts cont

Documents for Opening Offshore Bank Accounts
For a Personal Account

Filled out bank application form;

Signature sample;
Notarized copy of passport with clients original signature or any other
acceptable identification;
Original bank reference for each signatory of the account;
Document confirming clients address

For Corporate Offshore Bank Account

Memorandum and Articles of Association;

Certificate of Incorporation;
Board resolution to open account

Offshore Banking In India

India has made a cautious beginning in offshore banking by
permitting for the first time Offshore Banking Units (OBUs)
to be set up in Special Economic Zones (SEZs).
The SEZs have been set up with a view to providing an
internationally competitive and hassle free environment for
export production.
The Reserve Bank of India (RBI) has permitted banks
operating in India, whether Indian, public/private sector or
foreign, to set up OBUs in the SEZs.

Data Analysis & Interpretations

Bank Operates in Offshore

Banking

Findings & Suggestions

State bank of India opens India's first offshore banking
unit
Open foreign currency accounts abroad as well as with
other OBUs in India
All the KYC information is required to open up an
account
Minimum amount required is $1000 to open up this
account

THANK
YOU