People are slowly coming to grips with offshore banking, it used to be seen as something that was only available to the wealthy and those that wanted to keep their money hidden. In fact, offshore banking is open to everyone and it is very easy to set up, it’s nearly as simple as setting up an account with any of the high street banks. Offshore savings accounts can help to make your money work for you, usually the rate of interest will be higher than that of the bank in your home country.
Offshore banking, in it’s simplest terms, is where you make an investment in another country there than the country that you are living in/resident of, it really is as simple as that! As an example, if you are living in the UK and you make an investment in the USA then you will already have made an offshore banking transaction. There are a variety of benefits of offshore banking, here is a quick list of the main advantages.
A lot of the locations where you will find offshore bank accounts are seen as being very beneficial for tax reasons, they are often know as ‘tax havens’. They do not always have strict rules and regulations like your home country. Another benefit is that they do offer great incentives for non-residents to invest their money. You will have your money working for you in no time.
The vast majority of offshore banks are very safe and secure, you should not feel worried about investing in them at all. You can see how secure the offshore banks are because there are so many wealthy people putting their money into them. Put your money in an offshore account and your money will not only be safe but it will also be private from the snooping of your home government.
Easy to use
Offshore banking is great to use and also allows a huge amount of freedom to account holders. It is ideal for regular travellers and entrepreneurs that do a lot of business (both online and offline), it is easy to control overseas bank accounts. Offshore accounts now usually come with a debit card and in some cases a credit card, this means that you will always be able to access your cash regardless of where you are on the planet. You will also have the use of internet banking, so your money works hard for you and you have access to it anywhere, perfect!