Is Having an Offshore Bank Account Legal?

Despite what you may hear, offshore incorporations and offshore banking are completely legal. It is snot just about the tax evasion or other illegal activities. Setting up an offshore bank account is simply about legally diversifying your political risk by putting your hard-earned savings in sound and well-capitalized institutions or banksthat offer safety and flexibility with your business dealings.

It is a no secret that it is becoming harder to set up an offshore bank account. Sooner or later, it could be impossible. Even if you don’t have any plan to use the account immediately, this is a strong incentive to act sooner rather than later. Offshore incorporation is a prudent step which makes sense no matter what.

Why you need an offshore bank account today?

An offshore bank account is similar to your home bank account. An offshore bank account is simply a bank account that you have in a country out of your residence. It has a wide range of benefits such as

·         Dilute Your Political Risk- Today; the biggest threat to your savings isn’t the market risk. It’s your own government.

·         Asset Protection- An offshore bank account also protects you from your home government agencies that are armed with the power to freeze your assets in special situations.

·         Currency Diversification- Holding foreign currencies is a great way to diversify your portfolio risk, protect your purchasing power, and internationalize some of your savings.

·         Confidential banking- hold your assets in privacy.

·         International trading-Allow yourself more great freedom and flexibility with your international business

In conclusion, look for a reliable merchant account service provider to set up your offshore bank account today and avail its many benefits.