London has a legacy of providing financial services to international clients, and is easily accessible, including via five international airports.
The Channel Islands and the Isle of Man are also well-regulated offshore locations, with their own government, legal system and financial regulator. However, they have close ties with the British economy and its currency – historically. The regulatory authorities have worked hard to ensure their rules meet high standards of governance.
The Channel Islands, Isle of Man and the United Kingdom each have their own deposit insurance scheme. These are designed to compensate eligible depositors in the worst-case scenario of a bank failure. That compensation applies up to a maximum of £50,000 per person, per bank in the Channel Islands and the Isle of Man, and up to £85,000 in the UK.
You can read more about the rules governing deposit insurance on the following websites: