A_Guide_To_Offshore_Banking

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					A Guide To Offshore Banking

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493

Summary:
If you are someone whose career and place of residence changes a lot,
then you might want to keep your banking constant. One way to do this is
by using offshore banking, which allows you to keep your money in one
country, yet have access to it wherever you go. If you want to know more
about offshore banking then this guide has some information that might be
useful

Why get offshore banking?

Getting offshore banking can be useful if you are travelling around a lot
and are...


Keywords:
current accounts,savings accounts,saving,uk,bonds,childrens,isa,interest
bearing,interest,apr


Article Body:
If you are someone whose career and place of residence changes a lot,
then you might want to keep your banking constant. One way to do this is
by using offshore banking, which allows you to keep your money in one
country, yet have access to it wherever you go. If you want to know more
about offshore banking then this guide has some information that might be
useful

Why get offshore banking?

Getting offshore banking can be useful if you are travelling around a lot
and aren't really located in one specific place. If you use an account
from one country then you will find it harder to get your money out
abroad, and might have to pay fees each time you want to carry a transfer
or withdrawal. You might not even be able to access your account in some
countries. Offshore banking can help you to have access to your accounts
like you were in your home country wherever you are in the world.

Tax exemption

Another reason why offshore banking is popular is for tax exemption. If
you have a large sum of money that you don't want to pay tax on, then
moving it to an offshore account might be useful. Of course, you need to
make sure that you abide by the tax laws of your country, but there are
legal ways to save yourself money through offshore banking

Benefits of offshore banking
Apart from the tax benefits, having your money offshore means that you
have equal access to all of the world's markets, and this makes it easier
to invest in a diverse range of products and services.

Offshore banking features

You can use offshore banking simply as a savings account, or you can use
it as your main means of banking. You can have a current account with a
debit card, and even make investments and buy insurance and loans using
your offshore bank. Most of the products and services that your standard
bank can offer are available offshore, with the added bonus of being
available around the world.

Risks

Offshore banking does use the law to its fullest, and so there are a
number of risks associated with it. Firstly, if you don't know what you
are getting into then you could end up in legal trouble. Before signing
up to offshore banking you need to consult a lawyer. Also, you need to
deposit a large amount of money in order to get offshore banking, and
that money could be at risk if anything happens in the country you opt
for. You know that your money in your own country is insured, but if
something happens offshore then you might be in trouble. Offshore banking
does have some benefits, but make sure that you know the details of the
system before proceeding. If you do this then offshore banking can help
you save money and access your finances wherever you are in the world.

				
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