Terms

Offshore Banking

Offshore banking involves the undertaking of safeguarding one’s assets in a financial institution in a foreign country. It may be restricted by the laws of the customer’s home nation, can be used to avoid certain unfavorable conditions should the funds be kept in a financial institution in the home nation. This may include the avoidance of tax obligations, as well as making it more difficult for these assets to be seized by an entity in the home nation.

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