Started by mousey123 Sep 05 2010, 16:39
• Such accounts are free from heavy taxation norms of the investor’s country. The offshore accounts ager generally opened in areas where there are lesser taxes applicable.
• Offshore banks have stricter rules for revealing private information. It is an effective tool for those who do not wish to reveal their correct amount to others.
There is a lot of security accorded to offshore accounts. Assets protection is one of the key benefits of the offshore accounts. Offshore accounts are safe from any political or economic turmoil faced by the investor in his country. The laws applicable on an offshore account are those of the foreign land.
The offshore bank accounts offer better interest rates than others. This is because they have lesser operating costs than the domestic banks which add up to the benefits.
An offshore bank account can be opened very easily. It can be done using mail, phone or even by internet.
With the advancement of world commerce and internet, offshore banking has become more beneficial for those seeking profits, especially in these times of recession. The initial payment for opening the accounts is so low that it is now not just restricted to wealthy people but for the not-so-rich investors as well.
Last edit: davids355 Sep 05 2010, 17:16