15 Best Offshore Banks for Family Offices

Family offices don’t look for “a bank.” They look for a strategic partner that can custody complex assets, move money across borders without drama, finance opportunities quickly, and deliver investment access most investors never see. After two decades working with multi‑jurisdiction families and advising banks on their family office offering, I’ve learned that “offshore” works best when it’s about capability and control—not secrecy. The list below focuses on banks with deep multi‑booking platforms, disciplined risk management, serious private markets access, and operational support a family office actually uses week to week.

What “offshore” really means for family offices

Offshore gets misunderstood. For professional family offices, it’s about:

Jurisdictional diversification: Rule of law, political stability, and legal certainty matter as much as returns.

Service depth: 24/5 FX, capital call facilities, rapid KYC refreshes, consolidated reporting across entities, and quality lending terms.

Investment access: Top‑tier private equity/credit funds, co‑investments, club deals, structured products, and open‑architecture fund shelves.

Tax transparency: Banks now operate under CRS/AEOI and FATCA. The right bank helps you comply and still run efficiently across borders.

A quick reality check: offshore banks aren’t a shortcut around tax. They’re a way to run a global balance sheet with fewer frictions, better risk controls, and broader opportunity sets.

How I evaluated the banks

Multi‑booking platforms and jurisdictional options

Strength of custody and reporting for complex structures (trusts, foundations, SPVs, LPs)

Access to private markets and institutional‑grade research

Credit offering (Lombard lines, NAV/capital call facilities, real estate, bespoke financing)

Operational reliability (payments, FX, settlement, corporate actions)

Stability, governance, and counterparty risk

Onboarding efficiency and realistic minimums for family office relationships

Value for money (pricing transparency, open architecture, hidden costs)

Minimums and product availability vary by region and regulatory status. Treat numbers below as directional; negotiate based on total relationship value.

1) UBS Global Wealth Management (Switzerland, Singapore, London, and more)

Best for: Large single‑ and multi‑family offices needing scale, lending, and investment bank access.

Typical minimum: $5–10m for private banking, $25m+ for dedicated family office coverage.

Strengths: After acquiring Credit Suisse’s wealth business, UBS sits on one of the world’s deepest platforms. Access to ECM/DCM, structured solutions, and a huge alternatives shelf. Powerful custody, strong capital base, serious execution in FX and fixed income.

Watchouts: Bureaucracy and onboarding friction; pricing needs negotiation (custody, advisory tiers, FX spreads). Be specific about conflicts around product shelf and internal deals.

Pro tip: Ask for institutional‑style reporting and an Investment Policy Statement (IPS) tailored for entity‑level mandates. Push for tiered pricing on large balances and reduced lending margins for multi‑asset collateral.

2) Pictet (Switzerland, Luxembourg, Singapore, Monaco)

Best for: Quiet, partner‑owned stability and meticulous custody; ideal for intergenerational planning.

Typical minimum: $5–10m+.

Strengths: Long‑term orientation, low staff turnover, superior discretionary mandates, and very good multi‑jurisdiction custody setups. A favorite for families prioritizing governance and continuity.

Watchouts: Selective onboarding and conservative risk appetite; less balance sheet for highly bespoke leverage than universal banks.

Pro tip: If you hold a lot of third‑party funds, use Pictet’s open architecture and require fee transparency: trailer retrocessions, platform fees, and trade commissions.

3) Lombard Odier (Switzerland, Luxembourg, Singapore)

Best for: Tech‑forward custody, sustainable strategies, and family governance support.

Typical minimum: $5m+.

Strengths: Partner‑owned, strong SAA/TAA discipline, excellent consolidated reporting across structures. Good at lending against diversified portfolios.

Watchouts: Less useful for heavy capital markets event‑driven activity compared with bulge‑brackets.

Pro tip: If your office cares about ESG integration without greenwashing, Lombard Odier’s in‑house research and methodologies are among the most rigorous.

4) Julius Baer (Switzerland, Monaco, Singapore, Hong Kong)

Best for: Entrepreneurial families that value open architecture and strong Asia coverage.

Typical minimum: $2–5m+.

Strengths: Broad product shelf, private markets access, responsive execution desks. Well-developed external asset manager (EAM) culture means they’re used to institutional‑style requests.

Watchouts: Pricing can drift unless you reset annually; confirm who approves special lending and how quickly decisions are made.

Pro tip: Agree a rate card for FX (bps per ticket size) and brokerage tiers to avoid surprises.

5) LGT (Liechtenstein, Switzerland, Singapore, Hong Kong)

Best for: Conservative, AAA‑jurisdiction stability with strong alternatives; ideal for long-horizon wealth.

Typical minimum: $1–5m+.

Strengths: Owned by the Princely Family of Liechtenstein; aligned culture, deep private markets, and robust governance. Strong in foundations and cross‑border structuring support.

Watchouts: Conservative lending parameters; onboarding can be meticulous—but that’s a feature for many families.

Pro tip: If you need foundation solutions, LGT plus Liechtenstein legal counsel is a powerful combination.

6) VP Bank (Liechtenstein, Luxembourg, Singapore)

Best for: Mid‑sized family offices needing excellent custody for entities, trusts, and foundations.

Typical minimum: $1–3m+.

Strengths: Very good with structures, pragmatic operations, attentive service. Cost‑effective relative to Swiss peers.

Watchouts: Smaller investment platform versus bulge brackets; private markets shelf is curated but not huge.

Pro tip: Use VP Bank for custody/reporting and bolt on specialist investment managers externally. Negotiate custody to 10–15 bps for eight‑figure balances.

7) J.P. Morgan Private Bank (Switzerland, UK, Singapore, US)

Best for: Ultra‑wealthy families ($25m+) with complex needs: credit, co‑investments, and investment bank coordination.

Typical minimum: $10–25m+ depending on region.

Strengths: Capital call/NAV facilities, global research, deep alternatives access, and institutional FX/rates. Serious philanthropic advisory.

Watchouts: High minimums and tight compliance boundaries. Clarify the scope of open architecture and any product conflicts.

Pro tip: If you commit to significant lending, negotiate margin concessions and priority access to co‑investments.

8) Citi Private Bank (Switzerland, London, Singapore, UAE)

Best for: Global families needing multicurrency treasury, cross‑border credit, and hedge fund access.

Typical minimum: $25m+ for CPB; lower for regional private banking units.

Strengths: Treasury/FX powerhouse, corporate solutions, and strong alternatives platform. Good at integrating personal and corporate banking where appropriate.

Watchouts: Be explicit about entity‑level onboarding sequencing and who covers what region; CPB can feel “matrixed.”

Pro tip: Families with operating companies benefit from Citi’s trade finance and cash management in tandem with private bank custody.

9) HSBC Global Private Banking (Hong Kong, Singapore, Switzerland, Jersey)

Best for: Pan‑Asia families, international executives, and those needing mortgages or property financing in multiple countries.

Typical minimum: $2–5m+.

Strengths: Strong Asian footprint, reliable payments infrastructure, and mortgages across several markets. Good RMB and CNH capabilities.

Watchouts: Compliance is stringent; onboarding can be slow without immaculate source‑of‑wealth documentation.

Pro tip: Use HSBC for operating liquidity, FX, and credit; place alternatives with a specialist bank if you need deeper access.

10) Standard Chartered Private Bank (Singapore, Dubai, Jersey)

Best for: Emerging markets entrepreneurs, Africa–Middle East–Asia corridors, and FX‑heavy treasuries.

Typical minimum: $2m+.

Strengths: Excellent FX and EM coverage, pragmatic credit against marketable securities and property in select regions. Strong digital channel.

Watchouts: Fund shelf is improving but not as broad as Swiss peers in some strategies.

Pro tip: If you run global payrolls or trade flows, SCB’s transactional banking plus PB custody is a cost‑effective package.

11) DBS Private Bank (Singapore, Hong Kong)

Best for: Southeast Asia exposure, Singapore booking, and efficient local financing.

Typical minimum: $2–5m+.

Strengths: Balance‑sheet strength, local deal flow, strong SGD funding, and government‑backed Singapore ecosystem for single family offices (SFOs).

Watchouts: Best for Asia‑anchored families; for European tax wrappers or niche EU funds, pair with a Swiss/Lux bank.

Pro tip: If you plan to establish a Singapore SFO, DBS can coordinate local legal/tax counsel introductions and provide payroll/operational accounts quickly.

12) Bank of Singapore (OCBC) (Singapore, Dubai, Hong Kong, Luxembourg)

Best for: Open‑architecture investments with strong Asian distribution and UHNW coverage.

Typical minimum: $2m+.

Strengths: Experienced relationship managers, robust DPM, good alternatives pipeline via third‑parties, competitive pricing.

Watchouts: US securities custody can have restrictions by entity/residency; check booking center rules early.

Pro tip: Ask for consolidated reporting across Luxembourg and Singapore bookings if you hold European wrappers.

13) UOB Private Bank (Singapore)

Best for: Property‑linked wealth and SGD financing; families relocating to Singapore.

Typical minimum: $2m+.

Strengths: Competitive mortgages, efficient SGD liquidity management, regional corporate relationships.

Watchouts: Alternatives shelf is growing but narrower than tier‑one Swiss peers.

Pro tip: Use UOB for financing and transaction banking, and complement with a Swiss custodian for broader investment access.

14) Banque de Luxembourg (Luxembourg)

Best for: EU‑resident families, funds/holding companies, and cross‑border estate planning inside the EEA.

Typical minimum: €1–3m+.

Strengths: Exceptional custody for UCITS/SICAVs, careful governance, and high‑quality reporting. Luxembourg’s legal infrastructure is a major plus.

Watchouts: Less oriented to fast trading or structured products; it’s a long‑term custody and planning house.

Pro tip: If you run a Luxembourg family holding (SOPARFI) or RAIF, this bank’s familiarity with local service providers saves time and fees.

15) Butterfield (Bermuda, Cayman, Guernsey, Jersey)

Best for: Trust‑centric families needing tax‑neutral custody, corporate services, and pragmatic banking in the Crown Dependencies/Caribbean.

Typical minimum: $1m+.

Strengths: Strong trust and corporate administration partners, sensible operational banking, and good with multi‑currency cash management.

Watchouts: Investment platform is smaller than Swiss/US giants; pair with a larger bank for alternatives.

Pro tip: Many families custody trusts at Butterfield and run investment accounts elsewhere for broader access.

Choosing your jurisdiction: strengths and trade‑offs

Switzerland

Why families like it: Rule of law, deep private banks, currency diversification (CHF), top‑tier custody.

Consider: Swiss depositor protection is CHF 100,000 for cash; securities are segregated in custody accounts. Strong data privacy but full CRS participation.

Singapore

Why families like it: Political stability, AAA rating, Asia connectivity, strong legal system, SFO‑friendly environment, competitive FX.

Consider: MAS is a serious regulator; onboarding is thorough. Excellent digital infrastructure reduces operating friction.

Luxembourg

Why families like it: EU hub for funds and wrappers; superb for UCITS, RAIFs, and holding companies; clear inheritance tools.

Consider: Investor compensation for cash is limited; rely on custody segregation. Great for reporting under EU frameworks.

Liechtenstein

Why families like it: AAA microstate, foundation framework, close to Swiss ecosystem, conservative banking.

Consider: Smaller banking universe but very high governance standards.

Crown Dependencies (Jersey, Guernsey, Isle of Man)

Why families like it: Trust administration, tax‑neutral structures, pragmatic banking, proximity to UK markets.

Consider: Use alongside larger platforms for investment depth.

Caribbean (Bermuda, Cayman, Bahamas)

Why families like it: Trusts, funds, reinsurance, NAV lending, and corporate services; tax‑neutral efficiency.

Consider: Best paired with a Swiss/Singapore custodian for investment execution and market access.

Pricing: what good looks like

Benchmark ranges I see in negotiated family office deals (always tiered and relationship‑based):

Custody/platform: 10–20 bps on total custodial assets; lower if assets are largely cash/fixed income.

Discretionary portfolio management (DPM): 50–100 bps tiered; <50 bps for bond‑only mandates at scale.

Advisory: 20–60 bps for advice only; watch for “double dipping” when funds carry their own fees.

Brokerage: 2–10 bps for liquid large‑cap equities; minimum ticket charges still apply. Insist on a rate card.

FX: 5–15 bps for tickets >$5m; 15–30 bps for $1–5m. Anything above that—push back.

Lombard lending margin: 150–250 bps over SOFR/SONIA for diversified collateral; better for very large, sticky relationships.

Private markets: Expect 1–2% management fees/10–20% carry at the fund level; bank distribution fees are usually embedded—ask for clean‑share classes.

Negotiation tips:

Bundle custody, FX, and lending to lower total cost. Banks value recurring economics.

Get written agreement on pricing tiers and any retrocession rebates.

Request annual fee audits and best‑execution reviews.

Onboarding step‑by‑step (realistic timeline: 4–12 weeks)

1) Define the scope

Entities you’ll onboard (holding companies, trusts, LPs, foundations, OpCo links).

Booking centers and functional needs (custody, FX, credit, private markets).

Investment Policy Statement at the family level and entity restrictions.

2) Documentation prep

Corporate docs: certificates, registers, trust deeds, foundation statutes, organizational charts.

Beneficial ownership: full KYC, passports, proof of address, tax residencies.

Source of wealth/funds: sale agreements, audited accounts, bank statements, tax filings, cap tables.

US connections: W‑9/W‑8BEN‑E, PFIC considerations, SEC‑registered advisor if needed.

3) Bank selection and RFP

Shortlist 3–5 banks; send a clear RFP with your requirements and asset mix.

Ask for: onboarding timeline, indicative pricing, credit appetite (LTVs), alternatives access list, reporting samples.

4) KYC and account opening

Video calls with compliance and RM; clarify politically exposed person (PEP) status and sanctions checks.

Provide notarized/apostilled documents where required; align on authorized signatories and e‑banking permissions.

5) Test the plumbing

Pilot a small transfer; test payment cut‑offs, FX rates, and SWIFT formatting.

Confirm how corporate actions and income are posted and how queries get escalated.

6) Asset transfer and setup

Agree in‑specie transfers where possible; avoid unnecessary tax events.

Stage transfers to maintain liquidity and avoid settlement crunches.

Lock in your reporting cadence: monthly statements, quarterly consolidated reports, and year‑end tax packs.

Pro insight: The best onboarding I’ve seen starts with a 60‑day plan, weekly check‑ins, and one operations lead on your side who answers compliance questions within 24–48 hours.

Credit capabilities you’ll actually use

Lombard lending (portfolio‑backed)

Typical LTVs: 50–70% for blue‑chip equities, 40–60% for investment‑grade bonds, 0–30% for certain funds.

Use cases: Bridge financing for private investments, opportunistic purchases, tax payments without liquidating assets.

Capital call and NAV facilities

For investment holding entities and family GP/LP stakes; speeds up capital deployment and smooths cash flow.

Real estate financing

Cross‑border mortgages (UK, EU, Singapore) with competitive LTVs and reasonable covenants if the broader relationship is significant.

Structured credit

Monetization of concentrated positions, pre‑IPO financing, or hedged line against a single stock—only with strict risk limits and legal counsel.

Common mistake: Using leverage to boost returns without a drawdown plan. Pair any credit line with hard stop‑loss rules and liquidity buffers.

Structures, reporting, and tax transparency

CRS/AEOI: Expect annual reporting of balances and income to tax authorities of account‑holder residency. Proper entity classification and controlling person disclosures are essential.

FATCA: US persons must disclose, and many offshore banks will only service them via SEC‑registered affiliates. Consider banks with dedicated US‑compliant platforms (e.g., Pictet NA Advisors, UBS, J.P. Morgan).

PFICs: US taxpayers should avoid non‑US funds unless wrapped in US‑friendly structures. Work with your tax advisor and insist the bank aligns on eligible investments.

Trusts and foundations: Banks will expect trust deeds, letters of wishes, protector details, and UBO verification—even if the trust is discretionary.

Reporting best practices:

Consolidate across banks using an independent reporting tool or your outsourced CIO.

Standardize valuation dates, FX rates, and performance methodologies (GIPS‑compliant if possible).

Maintain a document room with KYC packs, tax forms, and updated org charts to speed periodic reviews.

Risk management that goes beyond asset allocation

Counterparty risk

Don’t concentrate custody at a single bank. Two to three core banks is standard for nine‑figure families.

Segregate cash sweeps by currency and consider money‑market funds for excess cash (look through to underlying risk).

Liquidity ladder

6–12 months of expenses and commitments in T‑bills/MMFs; next layer in short IG bonds; risk assets after.

Governance

Investment committee with clear voting rules. IPS with ranges, drawdown policy, and leverage limits per entity.

Cybersecurity

Dedicated devices for banking, hardware tokens, segregated email accounts, and a quarterly permissions review.

Operations

Annual fee and execution audits. Run “what if” simulations: sanctions hits, market halts, collateral calls.

Common mistakes (and how to avoid them)

Chasing secrecy over service

Fix: Choose jurisdictions for stability and legal clarity. Build for transparency from day one.

Underestimating onboarding

Fix: Assign an internal project owner, prepare SoW/SoF evidence early, and pre‑clear complex ownership chains.

Overpaying due to opacity

Fix: Demand a written rate card for custody, FX, brokerage, and DPM. Rebid every 24–36 months.

Ignoring US considerations

Fix: For US persons, use SEC‑registered platforms and avoid PFIC landmines. Get tax counsel to bless fund selections.

No credit discipline

Fix: Treat Lombard lines as bridges, not permanent leverage. Define automatic de‑risking triggers.

Single point of failure

Fix: Dual‑bank setup with independent reporting. Document RM escalation paths and backup contacts.

Negotiation playbook

Lead with total relationship value, not just AUM. Banks reward custody + FX + lending + deal flow.

Ask for tiered pricing to be hard‑coded in the mandate. Include FX bands by ticket size and time‑of‑day execution policies.

Commit to a minimum custody balance or credit line in exchange for better pricing and dedicated coverage.

Secure alternatives access: request a forward calendar of top‑quartile PE/credit funds and co‑investments, with capacity pre‑allocation.

Build a service‑level agreement: response times, payment cut‑offs, and emergency contacts for large transfers.

Real‑world examples

Middle Eastern industrial family ($250m+)

Setup: Julius Baer (Zurich) for investments, Butterfield (Guernsey) for trust custody, Standard Chartered (Dubai) for treasury/FX.

Why it worked: Each bank knew its lane. FX costs dropped by 40 bps after rate‑card negotiation; capital call facility at Euribor+175 bps.

Southeast Asia tech founder ($150m)

Setup: DBS (Singapore) for SFO operations and mortgages, J.P. Morgan (Singapore) for alternatives and co‑investments.

Outcome: 80% of capital calls handled through a NAV line; combined custody pricing at 12 bps across both banks.

Latin American family post‑liquidity event ($120m)

Setup: Pictet (Geneva) as anchor custodian and DPM; VP Bank (Liechtenstein) for a family foundation; HSBC (Jersey) for payments.

Outcome: Cleaner governance, better consolidated reporting, and reduced tax compliance friction.

Quick decision framework

If you want the broadest platform and balance sheet

UBS, J.P. Morgan, Citi

If you want partner‑owned stability and meticulous custody

Pictet, Lombard Odier, LGT

If you want Asia‑centric execution and local financing

DBS, Bank of Singapore, UOB, HSBC, Standard Chartered

If you want EU wrappers and fund custody

Banque de Luxembourg, Lombard Odier (Lux), VP Bank (Lux)

If you need trust‑heavy, tax‑neutral setups

Butterfield, Jersey/Guernsey platforms via HSBC/SCB

When to add a second (or third) bank

Your alternatives pipeline keeps oversubscribing before your allocation lands.

You’re running >$50m in a single bank without a documented contingency plan.

Credit terms plateau; a second bank will sharpen pricing and execution.

You need booking centers that the first bank can’t offer (e.g., EU + Singapore + Switzerland).

Relationship turnover or service slippage persists beyond two quarters.

Final take

“Best” is contextual. For nine‑figure families with complex structures, the right answer is usually a two‑ or three‑bank architecture: one global powerhouse for credit and private markets, one partner‑owned Swiss/Liechtenstein custodian for stability and governance, and—if you’re Asia‑anchored—one Singapore bank for on‑the‑ground execution. Make pricing transparent, bake discipline into your IPS, and test the plumbing before you move size. Done right, offshore banking isn’t a destination—it’s infrastructure for a calmer, more capable family office.