| By law, offshore banks, including those offering high interest accounts, in some countries, participate in deposit protection insurance systems. Those systems allow an American citizen using a bank in Australia, Canada or any European nation, get similar deposit protection as using an American bank. When you use a search engine you will find umpteen sites offering high interest offshore bank accounts. It's important to review them carefully before making any deposits or providing personal information.
People seem to associate 'offshore' with two things; tax evasion, and dodgy businesses. And there's some truth to that. The phrase "Oh, what a tangled web we weave when first we practice to deceive" comes to mind.
Offshore services make strange bedfellows, and you can end up doing business with people you wouldn't be happy inviting home for tea with Momma.
If you are resident on one country, and doing business in others, there is scope for tax avoidance. It really depends on: - Which country your company is registered in;
- Which country your money is coming from;
- Which country you are resident in;
- Which country you have citizenship of;
- Which country it moves through, and ...
- Which country it ends up in.
 Ask about high interest offshore bank accounts today!
Tax-free high interest offshore bank accounts are usually opened in the name of an IBC (international business corporation). These accounts are operated in much the same manner as any other bank account. They allow clients to: - Shift funds in and out via wire transfer,
- Have their payments directly credited,
- Online access to their account balances and statements,
- Shuffle funds between accounts.
Be aware that if you are in receipt of goods, money or benefits from businesses or persons in the country where you are resident, you are liable for tax there, and no offshore juggling will get you out of it. You will leave a paper trail, and sooner or later your goose will be cooked. |
