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Breaking down how offshore bank accounts actually work

More and more people are getting interested in the idea of leveraging offshore banks and offshore bank accounts these days, and it’s easy to see why.

After all, following the economic collapse of the mid-2000s that the global community is still trying to dig out of almost 10 years later things aren’t exactly sunshine and roses when it comes to the financial stability of traditional banking options.

how-do-offshore-bank-accounts-work.jpg


Combine that with horror stories on the news about governments (including the United States) seizing assets from her citizens and then charging the assets with crimes so that they can take money without any recourse – and that’s just the tip of the iceberg – and you’ll begin to see exactly why so many people are eager to set up their own offshore bank account if at all possible.

The only problem is that most people aren’t familiar with how offshore bank accounts work in the first place. They understand that they exist but may believe that they are only for the super rich and famous.

Nothing could be further from the truth.
If you’d like to learn a little bit more about how do offshore bank accounts work and whether or not they can provide you with the benefits you are looking for you’ll want to check out all of the inside information we offer below.

Offshore bank accounts aren’t all that different from traditional bank accounts (at least on the surface)

The first thing that you want to realize about offshore bank accounts is that they aren’t all that different from traditional bank accounts in most every sense.

You’ll be able to deposit money, withdraw money, invest money, protects assets for safekeeping, and the list goes on and on just like you’d be able to add a “regular” bank.

But once you begin to dive deeper below the surface you’ll begin to notice that there are significant advantages to moving forward with offshore bank accounts that you’d never be able to realize in the US.

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You’ll enjoy extra freedom, extra control, and extra privacy
For starters, you’re going to be able to enjoy a lot of extra freedom when you open up your own offshore account. You’ll have a world of options to be can choose from, and many of the best banks in the world are operating outside of the US.

You’ll have a lot more control as well. Offshore banks are used to dealing with some of the most demanding clients in the world, and they are set up to serve their clients and customers as best they can. Their reputation – and their profitability – depends on it.

Finally, you’ll also be able to enjoy a lot of extra privacy and security that you wouldn’t have been able to enjoy with traditional accounts. As mentioned above, civil forfeiture is becoming a major plot point these days and for good reason.

Regular US citizens are having their money – and other possessions – stolen from them outright by the government set up to protect them and they have no recourse against this.

That kind of stuff doesn’t happen when you set up an offshore bank account and understand exactly how it works.
 

taxman

New member
I understand how the offshore banking system works but what I'm not sure about is some of the following.

Do you think you can use the debit card in any shop locally? if so are there any costs that apply for this?
Is it possible to ask your friends and customer to transfer money directly to this offshore account? Wouldn't they start asking question if you tell them to do so?

How are you using the offshore account if not for daily banking?
 

zohoman

New member
I understand how the offshore banking system works but what I'm not sure about is some of the following.

Do you think you can use the debit card in any shop locally? if so are there any costs that apply for this?
Is it possible to ask your friends and customer to transfer money directly to this offshore account? Wouldn't they start asking question if you tell them to do so?

How are you using the offshore account if not for daily banking?
Thanks, so understand it all correct. Great you could confirm it.
 

happyjohn

Corporate Services
Mentor Group Gold
Business Angel
Entrepreneur
There is no difference from an offshore account and an onshore account they both have Online / Internet banking in English and all what else you need for your day to day banking.
 

khan

Corporate Services
For starters, you’re going to be able to enjoy a lot of extra freedom when you open up your own offshore account. You’ll have a world of options to be can choose from, and many of the best banks in the world are operating outside of the US.
I agree. Since 2010 I'm holding an Cyprus bank account and have always been happy with it also with the banks approach to help if there are any issues. However I'm looking for other places to put my money in as second and 3rd option.
 

TRX

Corporate Services
Mentor Group Gold
Elite Member
When you apply for an offshore bank account you may notice that all communication is in English and not your native language, this can be a problem for some people actually. Also you may note that everything is handled typically by e-mail which makes it even easier for most to open an account.
 

infotrader

New member
I appreciate your intention of creating awareness. I learnt offshore accounts have more scope to banking than traditional banks. It has additional bonuses like privacy, freedom and control. I still want to know about sending and receiving limits in Offshore. When its traditional bank accounts, there's always a safe feeling. When there are transaction limits with offshore banks, it would be such a pain. Can anyone share personal experience along these lines?
 

Emirates

New member
That's because people get scared from all the stuff happening around in the financial sector. We want protection of our money and assets and this one can get with offshore banking that is totally legal as long as you pay your taxes.
any special hint or trick to get this setup? I'm in the planning phace.
 

MisterFree

New member
any special hint or trick to get this setup? I'm in the planning phace.
Its very simple if you want to get this kind of setup, hire a professional to do the job for you, its that simple. Since if we do it ourselves, we could mess things up or probably the worse we could not see bad things happening in the future because we are not that experience in this kind of things yet.
 

MisterFree

New member
When you apply for an offshore bank account you may notice that all communication is in English and not your native language, this can be a problem for some people actually. Also you may note that everything is handled typically by e-mail which makes it even easier for most to open an account.
I also noticed this thing too, how come they are requiring every applicants to submit English documents? Even their own country ( the offshore country ) doesn't even speak English as their native language. I'm puzzled myself.
 

oldbear5566

New member
Thank you for the info. In the country where I live government poses an increasing risk to any kind of savings. So opening an offshore account is the only way to keep funds safe.
 
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