Small business offshore banking for Nigerian entrepreneurs seems like a far reach into the devils den. I was discussing the amazing benefits of Small business offshore banking for small business with one of my clients but before the conversation can reach an interesting stage, he was quick to dismiss it with a question “I am not a politician, so how could offshore account benefit my business here in Nigeria?”
Now, if you are like my client who has already formed a negative opinion in his mind regarding offshore account as the avenue for Nigerian dubious politicians to hide their looted fund, then you should have a rethink. Small business offshore banking is golden and can save your steady business from unpleasant surprises in 2018.

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Amazing ways through which Small business offshore banking can help you grow your startup business
In this article, I am going to reveal to you
• Three amazing ways through which your small business in Nigeria can benefit from offshore account
• Easy way to open offshore account for your small business in Nigeria
• How to leverage Small business offshore banking for micro investment
So, if you will like to strategically position your small business against unpleasant surprises by the Nigeria’s economy and lay your hands on some juicy micro investments, here are the things you should know.
Small business offshore banking: This simply means foreign account opened for small business in another country’s bank other than the business country of domicile. For example, a Nigeria small business could maintain account with banks in panama, Qatar or Luxembourg.
I a simple term, it is an account for small business outside the local country of its operators. Taxes in these countries are often easy as the rates are low.
Three amazing ways your small business can benefits from small business offshore banking
Strengthens your purchasing power: Small business offshore banking can really help you strengthen the purchasing power of your small business in Nigeria
Every single citizens of Nigeria are aware of the flip flop of Naira against major world currencies like dollars, pounds, euros etc. It will be wise decision for any startup business owner to protect himself against the fall in value of local currency. Local banks in Nigeria don’t naturally support you holding foreign currency as the cost of operating such account is on the high side.
But, internet has made things easy right? With few clicks of a mouse you can have a Small business offshore banking within hours and strengthens your purchasing power.
Small business offshore banking offer higher interest rates: To be honest, between you and me, tell me the last time you found any interest on any of your Nigerian bank account be it savings or current account? Meagre interest? Yea, I guess so. That’s why it is logical to have some of your income saved into your Small business offshore banking. That way, you get to enjoy growth on your savings instead of it being transferred to some group of big business owners.

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Financial Security for your small business: Nigeria has just experiences economic recession. Even though the government is trying it best to strengthen the economy, a lot of businesses are currently going through financial hardship. But your business doesn’t have to be part of this. Leveraging on Small business offshore banking could provide financial security as your savings will not be affected by the drastic measures that the CBN might be imposing on banks to strengthens the financial institutions in Nigeria
Easy way for you as a Nigerian startup entrepreneur to start benefiting from small business offshore banking
Now that you have learnt about amazing benefits that your small business can gain from offshore account, let’s talk about easy way to open it as a Nigerian startup entrepreneur. For the purpose of this article, I will advise you to stick to bank of Luxembourg for three specific reasons.
• It is completely free and fast
• It is the biggest offshore bank in Luxembourg and Malta.
• You can open it from the comfort of your home
Small business offshore banking opening process
1. Click on the Luxembourg offshore account link and select business account, then click apply now.
2. On the popup window, there is a form to take the details of your small business and its managing officers. Fill the details correctly and remember to impute valid identification card numbers and click on verify.
3. A validation code will be sent to the phone number you provided earlier, extract the code, impute it into the form and click continue.
4. Now, verify your small business officers by uploading clear image of the account operators and valid means of identification.
5. Also, you will have to verify your business address with current utility bill e.g PHCN, water bill or your Nigerian master card that bears the name of your business.
6. The final step here is to apply for a free debit card with which you can operate your Small business offshore banking.
How to leverage Small business offshore banking for micro investment
Woops, I can see you are already thinking of opening your Small business offshore banking. There are other interesting things you can do with it. In fact, you can use it as a means of portfolio diversification. Isn’t that interesting? You can learn how to leverage your Small business offshore banking from the links below:
Use it to verify paypal account
Withdraw funds from anywhere in the world
High-profile website identity verification
Online mini importation business
I believe, you have learned several amazing benefits of offshore account to small business in Nigeria. Many of us really work for our money and we don’t want to see it flying away because of unstable political and economic atmosphere in the country.
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Nice