Is offshore banking safe and secure? Which banks provide offshore bank accounts?

Is offshore banking safe and secure?

Offshore jurisdictions are politically stable countries with strong economies and developed financial sector. Financial sector is tightly regulated to eliminate risk of bank failures and ensure a good image of a jurisdiction making offshore banking highly secure.

Is my information kept anonymous and confidential?

Most financial institutions in offshore banking centers provide anonymity to their clients. Generally bank secrecy is ensured by a country’s legislation. Degree of bank secrecy varies from one jurisdiction to another; therefore if you are interested primarily in bank secrecy, you should check the legislation first to be sure to what extent your personal information is protected. Read more…

Which one is the best tax haven? What country is the best option?

It is difficult to answer this question. Simple answer is: “it depends”. It depends what exactly you are looking for. If it is bank secrecy, then Panama may be a good choice. If you are resident of UK and want to go offshore, then you may want to choose services provided by Channel Islands (Jersey, Guernsey, and Isle of Man). The answer varies according to your priorities. We provide here description for major tax havens, so it is up to you which one to choose.

Which banks provide offshore bank accounts?

Offshore bank accounts are provided by both local banks operating at offshore banking centers and also by reputable international banking institutions, such as HSBC and Barclays. Actually you can open an HSBC Offshore Bank Account In Sterling, US dollars or Euros in minutes. You can check http://openoffshorebankaccountfornonresidentsonline.com/ to open offshore banks accounts for non residents online.

Is offshore banking really linked with criminal affairs and criminal financing?

Despite the fact that offshore banking provides bank secrecy, high degrees of privacy and confidentiality, this sector is strictly regulated and supervised business and this leaves very small space for criminal affairs. Opening an offshore bank account is not as simple as it may seem at the first sight. There are a few organizations like Financial Action Task Force (FATF), Basel Committee and the Offshore Group of Banking Supervisors (OGBS) that impose strict regulations on offshore banking sector of a tax haven. Tax havens that do not comply with the regulations imposed by these organizations risk to see themselves in a black list. This makes it almost impossible to transfer funds banking institutions from jurisdiction that is in the black list. Such approach makes tax haven authorities interested in to reduce or completely eliminate illegal transaction and makes very hard for criminals to engage in money laundering. So it is very important that the bank your choice has good reputation and is incorporated in a tax haven that has good reputation.