Banking – Merchant Accounts – Offshore Companies – Company Formation

Regulation of offshore banks

In the 21st century, regulation of offshore banking is all agedly increasing, although critics maintain it remains largely insufficient. The quality of the regulation is monitored by supra-national bodies such as the International Monetary Fund (IMF). Banks are generally required to maintain capital adequacy in accordance with international standards. They must report at least quarterly to the regulator on the current state of the business. Read More »

An offshore bank is a bank located outside the country of residence of the depositor, typically in a low tax jurisdiction(ortax haven) that providesfinancialand legal advantages.These advantages typically include:

• greater privacy
• low or no taxation
• easy access to deposits
• protection against local political or financial instability

Myths

• The public mistakenly links offshore banking to criminal activities, terrorism-financing and money laundering.
• Secondly, people think that offshore banking services areonly for high-income class, since ordinary people cannotafford them. Read More »

An offshore bank is a bank located outside the country of residence of the depositor, typically in a low tax jurisdiction (or tax haven) that provides financial and legal advantages. These advantages typically include:

• Greater privacy (see also bank secrecy, a principle born with the 1934 Swiss Banking Act)
• Low or no taxation (i.e. offshore tax havens)
• Easy access to deposits (at least in terms of regulation)
• Protection against local political or financial instability Read More »