Offshore Banking – A Convenient Banking Option for Investors
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Posted On :
Aug-08-2011
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Article Word Count :
464
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For a depositor, offshore banking is related with the services of a bank from another country than their own country of residence.
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For a depositor, offshore banking is related with the services of a bank from another country than their own country of residence. If you have invested or deposited funds in a bank outside your own country (referred as “Offshore Bank”), then this is called as offshore banking. On the other hand, any bank in your home country is often referred as a domestic bank.
In today's economic environment, offshore banking has become the logical option for sensitive investors who look to secure their financial future and carry out their business privately and affordably. Whatever offshore assets security you are looking for, choosing to bank offshore offers a broad variety of choices and locations suitable for each unique situation.
An offshore bank account can give a person, family, company, investment firm or corporation the flexibility, privacy and tax break needed to properly manage, protect and finally increase one’s assets.
Offshore banking service providers offer you many types of bank accounts available in an extensive range of worldwide offshore jurisdictions - from personal accounts to corporate accounts to unfamiliar numbered accounts in places which are far-reaching as Hong Kong, Panama, Belize, Seychelles, BVI and more locations.
• The common benefits that can be enjoyed if you have offshore banking may include the following: -
• Better security of assets (if the bank is in a secure, well-regulated jurisdiction with investor security guarantees)
• Possible tax saving profits (if the bank account is in a low/no tax jurisdiction and the account holder is not required to pay tax on deposits held outside their nation of tax residence)
• Supple management of funds (internationally, online, over the phone, via smart phone apps etc.)
• International access to money (in local currencies through local ATMs)
• Primary account management services (suitable for high-net worth account holders who need better management of their funds from their bank)
Getting an offshore account means opening an account outside the country of your residence. Offshore bank accounts are usually available in more than one currency. This makes them considerable to those who operate in many countries or travel a lot. It is also helpful to a common investor as a hedge against remarkable currency movements. The benefits of offshore bank accounts are numerous. The significant one is that they are tax-efficient. Offshore accounts have less preventive legal regulations; they also allow easy access to deposits and protect you against local or financial insecurities.
There are many jurisdictions that are popular and are being used for offshore services where people can take their companies out of their countries and gain international benefits. The offshore companies are not only helpful from the business point of view, but it also attracts the attention of investors looking to get their own freedom and financial privacy.
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Article Source :
http://www.articleseen.com/Article_Offshore Banking – A Convenient Banking Option for Investors_72083.aspx
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Author Resource :
Richard Collins is a Manager at Offshore Banking International (OBI) which offers its clientele a full suite of offshore banking services delivered with the kind of personal attention that offshore banking demands. The company has in-depth knowledge of off shore banking and experience with over 30 offshore jurisdictions, which they utilize
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Keywords :
offshore banking, off shore banking, offshore company, offshore companies,
Category :
Finance
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Finance
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