Adam Green

'The level of confidence among expatriates is very strong and refreshing,' he says. 'There is so much going on in this market and Dubai is becoming far better known in the UK. The selling of villas to the England football team on Palm Island, though a minor example, generated enormous publicity.'

HSBC is unique among the international banks based in the region in having its own offshore banking division that caters mainly, though not exclusively, to the needs of expatriates. So what benefits does this offer?

'Portability is the main thing that I would highlight,' says Mr. Green who joined the bank 14 years ago from university and spent the last seven years at HSBC Offshore's Bank International's headquarters in Jersey. 'If you move on to Thailand from Dubai you don't have to change your bank or your bank account, and we will put you directly in touch with a relationship manager.

'Relationships are the key for us, and the relationship manager is main feature of our Premier Banking service, which is for clients with more than $100,000 in cash or investments with us. This means that you have one individual who will guide you through all your different financial transactions and offer advice on banking requirements, pensions, mortgages and so on.'

Mr. Green explains that, subject to a minimum balance requirement, anybody can sign up for HSBC Bank International's standard banking services which includes Internet banking, telephone banking and savings accounts in a selection of currencies. But the Premier Banking offering is reserved for those who meet the financial criteria.

Little more than three years ago HSBC Bank International occupied a small office inside the HSBC Creek-side headquarters in Bur Dubai. Now the division has its own eyecatching office on the Jumeriah Beach Road and has nine staff.

'This includes our three independent financial advisors who handle life insurance, pensions and investments,' explains Mr. Green. 'They have to meet the very high quality standards of HSBC and provide advice on the best products in the market and do not only sell products from HSBC.

'HSBC Bank International is regulated by the Jersey Financial Services Commission and our headquarters are based in Jersey. As a matter of fact I still have the same boss now that I did in Jersey.'

For investors HSBC Bank International seems to provide the advantages of a personal, local service with the benefits of the support and security of the vast HSBC banking empire, the second largest bank in the world by market capitalisation. This can be advantageous when buying a house in the UK, for instance.

Instead of having to rely on long-distance communication with a bank back in the UK, an expatriate in Dubai can walk in and sign all the mortgage documentation in the local office. There is also help at hand to guide you through this often rather confusing process.

Another option available to UK expatriates is to re-mortgage UK property to fund property purchases elsewhere. A recent trend is to mortgage UK property to buy in Dubai. At present the variable US$ mortgage rate is just 2.25%, a highly attractive alternative to local rates of 6.5%, though this rate may well rise in the near future.

'HSBC mortgages are generally among the best rated in the marketplace and this is one area where we see room for expansion. We would also like to have HSBC Bank International representatives in more HSBC offices around the region, and have already made a start in Qatar,' says Mr. Green.