What are the risks associated with Offshore Bank Account

[jb100]

Opening an offshore Bank Account is easy in almost all attractive destinations of the world, such as Cyprus, Seychelles,Belize, BVI,Panama etc.But there are so many risks associated with such accounts.Particularly the guaranty and security of money you deposit there.Have you faced any such problems for your offshore Bank accounts?Are there any other risks associated with such Accounts?

 

[mneilson]

The political and economic situation in the world is too complicated just to assume that a bank that was safe and private last year may not be the same always.


Another disadvantage is , offshore jurisdictions are often remote, so physical access and access to information may be difficult.