Getting a bank account offshore simply means opening an account outside your country. Apparently, if you have lived in another country for a period of time, you are very likely to have an offshore Swiss Bank Account already.
A separate type of offshore banking contains an offshore bank account only for external persons. Offshore banks or financial enterprises operating as such are often banned from offering banking services to citizens of the country in which they are licensed under their charters. A typical example may be an offshore bank on a Caribbean island that offers services to American and European citizens but is not allowed to provide services to the island residents.
Apart from the simple need to have a separate account when you live in a foreign country, what are the offshore accounts so attractive? Why are the rich people making them?
1) Offshore bank accounts in more than one currency are often open. This makes them extremely useful for those who work or fly in a different country. …Continue reading