Read about the 10 Reasons why you need an Offshore Bank Account

[buzzoffshore]

Famous investment pros like Doug Casey, Peter Schiff, Jim Rogers, and others have worked on getting their money ?out of Dodge? for years.

Almost all of the banking systems in Western countries are fundamentally unsound?leveraged to the hilt and backed by the promises of insolvent governments. Worse, most of these banks only keep a tiny fraction of cash on hand to meet customer withdrawal requests. This means that in the event of a financial shock like another Lehman-style event, you could have trouble accessing your money.
If you look to bank in a jurisdiction with low debt and a history of a stability, you can find banks that don?t gamble with customer deposits (i.e., your money), are much better capitalized, keep more cash on hand, and are otherwise much more conservatively run than those in the US.


Offshore banks are almost always more responsible custodians of your hard earned-savings.

[h=4]Reason #3: Asset Protection[/h] Maybe you think it?s just other people who live on the lawsuit firing line? and you live somewhere else. Think again.
The Legal Resource Network reports that 15 million lawsuits are filed in the US every year.


That works out to a new lawsuit for one out of every 12 adults each year? year after year. Unless you?re exceptionally lucky, sooner or later your turn will come. You?re not going to like it.


It?s no fluke that 80% of the world?s lawyers?over 1.2 million of them?work in the US. That?s where the action is. Your money is the trophy they?re competing for.


While there is no such thing as 100% protection, an offshore bank account can help make you a hard target.


An offshore bank account also protects you from being paralyzed by a lightning seizure by any government agency armed with a summary power to freeze your assets, since such summary powers can?t reach beyond the US. If you ever find yourself in a wrestling match with a government agency or with a frivolous lawsuit, you?ll have resources you can count on.

Read more here, very interesting article actually with lots of information to read, reflect and consider once you are thinking about to bank somewhere outside of your country.


http://www.marketoracle.co.uk/Article49135.html

 

[EliasIT]

Where are the other reasons, I only see 2 ??

 

[myoffshoreliving]

Yeah only see 2 reasons where are the rest Mr :announce:

 

[buzzoffshore]

I was hoping somone could supply with some more rather than me doing all the work will get you some more reasons later :gift:

 

[DeMajor]

Asset protection and privacy are the main objectives for me to open an offshore account I don't know yet where to open the account finally. So far I applied for bank account in Cyprus so I will go for another maybe in Mauritius or so!

 

[buzzoffshore]

When conducting huge business take overs it can be a benefit (in some cases even a must) to have a offshore company execute the transaction or entire acquisition of the deal. Say you want to take over a competitor but he should not know that you are behind it! Or say you want to take over a business domain, royality or similar but you don't want to show the property owner that you are the one who want's to buy! This could be for many reasons but most often either because if the seller knows you are the buyer he either don't want to sell or the price is going up!


And there are many more situations where it can be of interest for some to hide his real identity or business activity behind a offshore company!

 

[DeMajor]

buzzoffshore That makes sense you really have some great information to share.

 

[buzzoffshore]

buzzoffshore That makes sense you really have some great information to share.

Thank you I just share my experience from all the time I have done this.

 

[DeMajor]

Thank you I just share my experience from all the time I have done this.

I send you a PM please check and let me know if you can help my friend

 

[mneilson]

This is a funny thread that should be removed, it has no value actually!