A few things about offshore banking.

Quite often expats have cash deposits in interest bearing accounts. If they use the interest to finance their expat lifestyle it is important to minimise taxation and retain as much as possible. If the interest is generated in the UK it will normally be taxed 20% at source. Even if the interest arises outside the UK it will be liable for tax if it is brought back into the UK, for example if it is paid through your UK bank account.

Setting up an offshore bank is usually the same as opening a bank account in the UK. The only difference is that the law appertaining to that account will not be UK law, but will be the law of the country where the account/funds are located.

There are several points which are very important:
1. Open an account in a country that is politically and economically stable.
2. Use a bank of good repute. Remember, even banks can become insolvent and it is the investors who stand to lose their money. Northern Rock is a recent example, if the UK government had not stepped in and underwritten this, the depositors would not have been fully protected and could have received a maximum compensation payment that was far below their investment.
3. Consider having several accounts and/or using more than one banking company to minimise the risk and maximise compensation in the event of failure.
3. Use a bank that offers accounts in your choice of currency.
4. Don't just consider the bank that gives the highest rate of interest. You need to know their charges for managing the account and for transferring money. Read their terms carefully.
5. Taxation may be payable in the country in which the account is located, or there may be a retention tax if you are in the EC. Or it may be payable when you bring money into China.

To the best of my knowledge, all the big UK banks and Building Societies have associated offshore companies. Your first point of call could be the places where your money is invested at the moment. The offshore bank will be a different corporate entity so you will still have to provide evidence of identity, address, source of funds etc when you open the new account. It is generally easier to open these accounts in person as the bankers are bound by the 'know your customer' rules but it can be done by post.

Personally I use HSBC International. My accounts are resident in Jersey but managed from Hong Kong. My personal relationship manager is in Hong Kong and anything I need is managed by him. One day HSBC may open a branch in Nanning and make life easy for us all!