Offshore Banking

Low or no taxation, less regulation, strong privacy, and stable political and financial environment are some of the reasons that drive banks to operate out of their country. Many doubts and myths surround offshore banking. Nevertheless, as any other bank or financial institution, it has advantages and disadvantages. Thus, you should not allow that those myths create a misperception of what offshore banking implies. Some disadvantages of offshore banking are lack, in some cases, of depositor compensation, difficult access to information and association with crime and money laundering. Get rid of the most common misconceptions and learn more about offshore banking by reading these articles.