How About Offshore Banking

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How About Offshore
Banking?
 Individuals may
have a variety of
reasons why they
wish to bank
offshore from their
original homeland.

http://panama-repossessed-properties.com/how-about-offshore-banking/

 So how about offshore banking
for you?


 If you are retiring in a tropical
paradise you may wish to bank
offshore where you live.


 You may notice that the local
currency, such as the Colombian peso,
is rising in value versus the US dollar
and want to bank your assets where
they will grow instead of decrease in
value.


 Or perhaps, setting up a business in a
growing economy in Latin American or
Asia appeals to you.


 Some nations have favorable tax laws
and it may simply be a matter of
looking for a legal tax haven in which
to bank your hard earned dollars,
pounds, Yen, or Euro.


 Or an offshore jurisdiction with a
degree of privacy associated with
bank accounts may be your goal.


 If you think that what you own is no one
else’s business you may want to
continue reading How about Offshore
Banking.


Offshore Banking for
Asset Privacy

 In an increasingly
international
world many live or
retire, do business,
and do their
banking offshore
from their nation of
origin.


 Reasons vary from person to
person and are many.


 Individuals bank assets away from
their country of origin to avoid being
the target of frivolous lawsuits.


 They place their hard earned assets in
tax advantaged offshore jurisdictions
to legally protect what they worked
so hard to earn.


 Many choose jurisdictions where
corporate and banking laws shield the
individual from unnecessary intrusions
into their private lives.


 Many choose offshore to protect the
privacy of their assets.


 Is this costly? Not really.


 If you deal with a reputable advisor
you will find that there are many
banking opportunities in many
jurisdictions.


 You simply need to consider what your
needs are and pick the most
advantageous jurisdiction and bank.


Modern Offshore
Banking

 Having a bank account
in foreign countries
does not mean that you
need to fly down to
Panama every month to
deposit your social
security check or take
out living expenses.


 As much as a trip to a place like
Panama City might be enjoyable it
is typically not necessary.


 A modern offshore bank will allow you
to send and receive funds worldwide
(SWIFT/BIC).


 You can carry a debit card which
allows you to take money from a cash
machine anywhere in the world.


 A well chosen bank will have an
account manager who speaks your
language and can help you with any
details via email, a phone call, or
Skype.


 If banking offshore and using your
debit card as you travel the world
appeals to you please continue
reading our primer for offshore
banking.


 Remember that you do not need to
live where you bank.


 Pick the best jurisdiction for
doing business, the best for
living, and the best for travel.


 And pick the most advantageous
for banking offshore.


 A bank account in an offshore
jurisdiction is often a very
private place to place your
money.


 Strong banking laws in many of
these locations strictly prohibit
making public any information about
account holders.


 In addition you can use legal means
such as offshore corporations, trusts,
or foundations which will further
enhance the privacy of holdings in your
offshore bank account.


 Money transfers whether by SWIFT or
with use of a debit card can be in the
name of a corporate entity providing
privacy for the individual or
individuals benefitting from the
account.


 Keep your business your own with an
offshore bank account. How much do
you need to deposit to set up an
offshore account?


 Read further in our primer for
offshore banking.


How about Offshore
Banking and Free
Setup of Accounts

 Very commonly one
can open an
offshore account
for free.


 Minimum deposits of $250 for
individual accounts and $500 for
corporate accounts are common.


 Along with a free account you
will often get a credit/debit card
that will allow you to access
cash from anywhere.


 Setting up an account can often be
done through an agent and if you are
forced to come to a tropical paradise
such as Panama to set up your account
all necessary paperwork can be done
before you arrive.


 We hope that you find our primer for
offshore banking useful. If you have
questions place contact us at
www.RobertGirga.com for more
information.


How About Offshore Banking

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