What are The Main Benefits of Offshore Banking?
Diversification of investments internationally
Favourable tax environment
Heightened banking confidentiality
Access to foreign investments and products
When opening an offshore account the following documents and pieces of information are typically required by most banks:
- Passport
- National ID
- Information on: basic personal background, source of funds, purpose of setting up account knows as "as know your costomer policy KYC"
What is Offshore Investing?The term 'invest offshore' or 'offshore investing' is used interchangeably. In a nutshell, offshore means registered or located abroad. And in order to participate in offshore investment, an international bank account is required.
The attractive thing about investing offshore is the additional options such as commodities, which you may have heard of with choices in oil, minerals and natural resources. This diversification in income can provide a continued stream which may not be presented domestically and is much easier than online trading which has a complex tax structure.
