Functions of an offshore bank account

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  • Protection of Assets
    People who live in a politically or economically unstable country can get benefits from offshore banking. It helps to protect the assets of investors or account holders.
  • Privacy
    Any individual can open an offshore bank account because of doing his business internationally. As a result, he becomes the account holder of that offshore bank where he does not have to disclose his identity to the nation, in this way offshore banks give privacy.
  • Tax Relief
    When account holders earn interest on cash deposits in an offshore bank account, taxes are not deducted from the interest earned. 
  • Expand your Freedom
    Having a foreign bank account gives you more choices. More choices imply more opportunities and freedom. Thus, if anyone wants to expand his business internationally then he should open an offshore bank account.

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