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Home > Banking Services > Offshore Banking > Key Facts About Offshore Banking
Key Facts About Offshore Banking
Most of us have heard this term before, but do we really know what it means? First, it is important to point out that the Nevis Offshore Banking Ordinance 1996 permits Offshore Banking. This Ordinance was created with the intention of making Nevis a liable centre of finances that can carry out incentives through exemptions, tax reduction and benefits.
Offshore Banking is accepting foreign money and deposits that can be payable upon the demand of receipts or after a certain fixed period; again, all this is done to receive foreign funds. This term also includes selling or placing activities that involve foreign money and foreign securities; some of these activities are selling and/or placing foreign bond certificates, debt obligations, notes and securities.
The entire or partial use of foreign funds for loans, investments and advancements acquired in Nevis or elsewhere are another part of what Offshore Banking is. In this matter, the lack of information is our enemy. There is no knowledge that is no power, and ignoring important facts of Offshore Banking as a whole will lead to suspicion and fear which is something entirely different than caution.
Even those who promote Offshore Banking ignore certain details about it. As said before, ignorance is not an ally. Promoters and detractors of this term should do more research into the subject. Offshore banks are regulated; no one has to panic with the idea of the potential risks of losing his/her money. The choice is yours, investigate and do not let anyone influence you.
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