Why Have an Offshore Bank Account?
Are you a multi-national company looking to manage your venture’s cash flow globally? An expat who wants to manage your bank accounts and make transactions online? Or an individual looking to secure your wealth in a more stable jurisdiction? For everything, offshore banking is an ideal option. Reputable offshore banking institutions such as SUISSE BANK PLC offers numerous benefits for individuals and corporate clients. Let’s understand why it can be worthwhile having an offshore bank account. Tax Efficiency There is a misconception regarding offshore banking that individuals and companies often use this method to evade taxes. And this is illegal. However, this is mostly not true. Many offshore jurisdictions offer zero or low tax rates, making them a lucrative banking option for global businesses and expats. However, you will still need to pay your taxes on the interest earned from the savings or earnings you make from the offshore bank account. Therefore, it is not illeg