Political and Economic factors while opening an Offshore Bank Account?

[mneilson]

Everybody thinks Offshore Bank Accounts have only advantages. But truth is different from the reality. What are the Political and economic factors while opening an Offshore Bank Account?

 

[richardm1964]

Your privacy in certain offshore banking locations is at stake whenever there is any political changes relating to change in ruling parties that control the general administrations of the nation. Economic factors such bankruptcy, credit crisis and business losses etc may hampers the privacy and investment objectives of your offshore bank account.