There is a well known misconception that only very rich people have offshore bank accounts. There is also a belief that there is something underhand and not totally legal about hiding money out of ones own country.This is also a myth.
By having an offshore bank account you can legally protect your assets from the money grabbing governments,creditors, ex spouses, lawyers and bankruptcy. You can also lower your taxes. All these things are totally legal.
You don't need a huge amount of money to open an account offshore, in fact the initial amount is considerably lower than in the onshore locations. For a businessman, this is perhaps the only way of establishing a foreign commercial bank, since other possibilities are difficult to accept owing to the demand for high capital etc.
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Also, as a customer of an offshore bank you stand to earn higher rates of interest. You can also perform all your banking transactions straight from the comfort of your own home and PC.
By subscribing to an offshore bank account you could be able to reduce or eliminate income plus inheritance and other kinds of taxes by living in another country. This is just part of the benefits.
For people who need the utmost privacy in their bank, offshore is a must.You can have a "numbered" account, also known as "the anonymous bank account" where the account holders identity is kept secret.All identity is erased from the banks computer and the account holder is known by a number or code. No paper communication is ever made.
One of the biggest benefits of an offshore bank is that if you choose the right jurisdiction, nearly any financial claims against you will be thrown out by local courts.
In this day and age, when people can and will sue you for nearly any reason at all, can you really afford not to have the financial protection that can only be offered by offshore banks ?
If you are an Internet Marketer you stand to benefit in many ways by incorporating offshore. You make your assets very confidential and private and it can help you by legally capping the tax amount you pay on your online income. It is also imperative that you establish an offshore merchant account to handle all your credit card transactions especially if you are offering items for sale or information or subscriptions for sale online.
There are many types of investments you can make in an offshore bank including stocks and bonds. You also have the choice of many different types of accounts.
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