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Is offshore banking legal?

many people think that offshore banking is illegal and associated with crime and terrorism-financing. This is common misunderstanding with offshore banking. In reality offshore banking perfectly legal. What can be illegal is tax evasion that an individual may do with offshore account. Offshore banking services are provided by licensed financial institutions and in many cases by institutions with international reputation.
Fila is absolutely right.

If you pay your taxes in your country there is not a single problem with having an offshore account.

By the way, if you would use your account for money laundry this would be a problem.

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