WHAT IS AN OFFSHORE ACCOUNT
An offshore account is a bank account that is opened in a jurisdiction out of the country of domicile of the bank account holder. Typically, most offshore accounts are opened in a favorable location in respect to financial and economical stability as well as legal protection.
The primary reasons for opening an offshore bank account include heightened anonymity and privacy factors, low or zero taxation along with protection against instability in your country of domicile, which may affect your assets and savings. With the introduction of online banking, there is an increasing demand for offshore accounts, making access for individuals and businesses to their internationally located bank accounts easy and immediate.
There are 3 principal offshore accounts available to open in favorable jurisdictions worldwide. These include personal bank accounts, corporate bank accounts and investment bank accounts. The most applicable bank accounts for business entities and investors worldwide are corporate and investment bank accounts. These bank accounts are specifically designed to help businesses achieve the maximum capital benefits from their business revenue and also help to accrue interest. Investment bank accounts are typically opened with top investment banks in highly sought after financial centers worldwide.