Can I use the multi-currency account to invest in foreign real estate?
Buying a property overseas could be a cumbersome task without a bank account overseas. If you are using a business entity to purchase a foreign property, you can use the multi-currency account for all your foreign banking needs like proof of funds, initial deposit, final payment, maintenance fees, paying property taxes, and for the collection of rental income or sale proceeds.
Without a local account, these transactions become inefficient and expensive, and even infeasible in many cases. The multi-currency account allows you to efficiently manage such transactions and reallocate excess capital to other investment opportunities.