The main benefits of offshore banking compared to onshore are that interest can roll up gross unless you are affected by the EU Savings Tax Directive and that you can have multiple currencies with the same bank and have bank cards on each currency.

Superyacht crew banking. Our Crew Agents have been trained to assist with information regarding the account as an aftercare service for Yacht Crew. A regular high street bank account wont help you take full advantage of that. We speak to the deVere Group about some of the issues facing superyacht crew in the financial sector Its no secret that most yacht crew are in a very privileged financial position.

Increased popularity of online banking and a much more flexible foreign exchange market has given rise to a larger range of bank. We deal only with those who understand the special needs of yacht crew. Online bank account options for Superyacht crew.

It does remain the only account designed specifically for crew who need to bank in multiple currencies. Employment benefits for Yacht Crew. We know that offshore banking saving and tax can be a minefield for superyacht crew.

Issues with banks and banking are all too common for superyacht crew who can often get charged and suffer from high exchange rates or debit card problems. Instead Standard Bank allows captains and first officers to certify crewmembers in conjunction with various other forms of due diligence. The Awards are both a personal achievement and an industry-wide recognition of professional excellence.

The Crew Awards have been developed to reward crew that have proven themselves to be the very best at their job. Often with a large monetary surplus every month favourable tax positions and minimal outgoings working on a superyacht offers the potential to save significantly for the future. United Kingdom Spain Northern Europe The Baltic The French Riviera Antibes Cannes Nice Palma Puerto Portals South Coast of England South West of England Mallorca Categories.

At the moment this doesnt cover things like. Like other expats superyacht crew members are professionals who travel and work in different countries. With offshore accounts commonly used by yacht crew we hear from Mark Upton of CrewFO to try and dispel a few myths about banking.