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Are offshore bank accounts legal?

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Breaking down and better understanding the legality of offshore bank accounts

When most will think of offshore bank accounts they think of these shadowy corporate entities and greedy CEOs that are looking for new ways – and new shelters – to hide their money in so that they don’t have to foot the same kind of tax bill that everyday citizens like you and I have to pay every year.

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And though there are certainly a fair share of greedy people out there that leverage offshore bank accounts for exactly that purpose (and probably a lot more than you would ever of imagine), the truth of the matter is that offshore bank accounts are just like traditional bank accounts – except they offer significant benefits and advantages that you would never get to leverage down at your local credit union.

The only problem is trying to figure out whether or not offshore bank accounts are legal as well as how to actually get one set up so that it starts to work for you.

Are offshore bank accounts legal?


You had better believe they are!
There is absolutely nothing whatsoever illegal, illicit, or immoral about having an offshore bank account and you’ll never have worry about the feds kicking down your door to gain access to your money the second that you set one up, either.

Just like traditional bank accounts in many ways, offshore bank accounts are available to every single citizen of the US (and most every citizen of the world, for that matter), and you’ll never run afoul of the law when you set one up.

The only trouble that you’re going to find yourself in with an offshore bank account is if you decide to use it as a tax shelter or a place to stash your money and the government finds out about it.

These are the kinds of stories that we see in headlines pretty much every single day, and these are offshore bank accounts that have crossed from the legitimate side of the fence to the illegitimate side of the fence.

Use your offshore bank account legitimately, never try to hide it, and you won’t have anything to worry about!

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Why would I want an offshore bank account in the first place?
There are a lot of different advantages to having an offshore bank account to begin with (way too many to list here in this short guide), but some of the best ones include:
• The ability to diversify your currencies to leverage investment opportunities
• Significantly higher interest rates with all of your deposits
• The ability to protect your assets more fully than you’d be able to with traditional bank accounts
• Extra layers of safety, security, and privacy you won’t find anywhere else
… And that’s just the tip of the iceberg!

How do I get offshore bank accounts set up?
You’ll want to be sure that you do just as much research and due diligence into setting up offshore bank accounts as you possibly can before you even think about applying for one.

You have to be sure that you are always working with a completely legitimate operation (ideally with decades if not hundreds of years of reputation to go off of), and even then you’ll want to make sure that you will be able to make the most of this kind of banking opportunity.

At the end of the day, actually signing up and opening up a new account is going to be pretty effortless. Technology has made the process just as simple and as straightforward as it gets, and by the end of the afternoon tomorrow you could have your own offshore bank account up and running!
 
I also had the wrong idea about offahore banking. I thought this type of banking is one kind of money laundering!! How wrong i was than. Thanks admin:)
That's what most think when you say offshore account. No one actually think.. ahhh... protection of my funds!
 
I can say that personally I didn't had any problems at any time for the last 6 years and no one knows that I have the account!
 
All governments including the OECD want us to believe that it is illegal to hold an offshore account but that's not the case! You are in your good right to open an offshore account if you want that.
You just don't forget to report it to your tax office. Otherwise it may be illegal in your country!
 
it has never been illegal to hold an offshore account what people did wrong, was that they didn't reported the account to the tax office! That means fines, and even prison if the amount you cheated them for is high enough ;)
 
it has never been illegal to hold an offshore account what people did wrong, was that they didn't reported the account to the tax office! That means fines, and even prison if the amount you cheated them for is high enough ;)
What would you say digital currenct provider is? legal or not?
 
They are legal as long as they report all your crap to the authorities!

All offshore banks seem to get more legal now they agreed to exchange information with the local authorities worldwide.
What are the alternatives if you know please share?
 
They are legal as long as they report all your crap to the authorities!

All offshore banks seem to get more legal now they agreed to exchange information with the local authorities worldwide.
Thank you. So we will be safe using worldcore and LeuPay right?
 
so if you are from US and open an offshore bank account in another country, you paying taxes for US or for the country where the bank and your business is? Let's say US taxes are 30% and in Seychelles it's 20%, so if you have bank account and business in Seuchelles, you paying 30% or 20% taxes?

Is opening offshore account have advantages in taxes?
 
money is starting to become scarce in many countries so their focus is to do everything possible to INDIVIDUALS to ensure the money stays pain¤#"!
 
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