Benefits from Offshore Banking

[blues]

Offshore accounts have taken the investor community by storm, with its innovative concept and benefits. Some of the best offshore accounts (http://www.worldenergycapital.com) boats of the following advantages:
Privacy: the offshore accounts are highly private. Vague litigations can hamper a normal man’s wealth even in some of the most stable countries. By investing offshore, one can take advantage of the stable legal and political environment of the offshore site.
Asset protection: By holding wealth offshore, it is harder for anyone to reach that place, especially those who might want to get their hands it. This means better protection of assets and privacy.
Earn Tax-free interest: Taxes incurred on these offshore accounts are incredibly less. Most of the offshore accounts will not have interest taxed at source like your home bank account.
Lesser Regulations: The offshore bank accounts are not restricted by any rules. One is not likely to face a barrage of security questions and other invasive queries, but a good offshore account will allow you to make such transactions online effortlessly, and into the many millions of dollars. The offshore accounts also free the customers from red-tape or bureaucracy.
Multiple currencies at your fingertips – Another very important advantage are the provision of multiple currencies. The customers can swiftly change between foreign currencies at a fraction of the cost of doing it at home. Most of the offshore accounts also offer FOREX and trading accounts. This enables the customers to instantly buy and sell at the click of a button from a tax-free offshore base.

[J lindsay]

With respect, this is unfortunately a very simplistic overview of the topic.

There is nothing new about offshore accounts, but there are increasingly reasons to avoid many of the typically popular countries where such things are available.

The first concern, and something that has certainly been quite commonplace over the past twenty five years, is that many so-called offshore banks are not at all secure and safe as a place in which to put hard won assets.

As with other scams targeting the affluent, it is an area where one can encounter crooks purporting to be solid and reputable banking institution owners, who subsequently disappear with clients money, presuming, correctly, to a large extent that a/ there are many who will grind their teeth, figuratively speaking, yet not publicise their misfortune, in case tax authorities in their own countries start wanting to know where all that money originally came from and also wanting to know if taxes were paid, or evaded, on that money.

b/ A second concern, of major and ever increasing proportions and pervasiveness, is that posed by the insidious OECD, Organization for Economic Cooperation and Development, funded by the larger and heavier taxing countries, including the USA, the UK, etc, An essentially self appointed entity, they are much like the Jesuits during the inquisition. Their raison d'etre is leaning on, threatening and economically punishing any offshore country engaged in offshore banking and related matters, until they each cave in and disclose the names and other details of all and everyone that has offshore banking facilities and assets lodged in that country. Local examples abound in the Caribbean.

Then, armed with this information,. the major, high tax governments are able to track down, jail, confiscate assets from, and generally victimize those would-be tax avoiders, as tax evaders.

Their self righteous, self decided and self serving logic being that whilst tax avoidance is not technically illegal, (though generally they'd really, really love that not to be the case, tax evasion IS illegal. And such greedy and rapacious governments, i.e. most governments, constantly seek new and improved ways to shove their hands deeper into taxpayers pockets, in order to fund whatever "flavour of the month" schemes they have come up with to self aggradisie themselves.

And using the USA an one example, though not unique in this context unfortunately, ostensible reasons in support of trying to eliminate their taxpayers from enjoying tax savings, anywhere, are justifications such as "war against drugs", "international terrorism". Bah humbug!

[Redman]

Offshore accounts have taken the investor community by storm, with its innovative concept and benefits. Some of the best offshore accounts (http://www.worldenergycapital.com) boats of the following advantages:

Youre like 60 years behind time breddo-everybody has them

Privacy: the offshore accounts are highly private. Vague litigations can hamper a normal man’s wealth even in some of the most stable countries. By investing offshore, one can take advantage of the stable legal and political environment of the offshore site.
Yeah, ask 300 + customers of UBS,
Asset protection: By holding wealth offshore, it is harder for anyone to reach that place, especially those who might want to get their hands it. This means better protection of assets and privacy.
Ths becoming less true- and with correct planning-at least in this jurisdiction unnecessary
Earn Tax-free interest: Taxes incurred on these offshore accounts are incredibly less. Most of the offshore accounts will not have interest taxed at source like your home bank account.[/COLOR

[COLOR=#00000a]Lesser Regulations: The offshore bank accounts are not restricted by any rules. One is not likely to face a barrage of security questions and other invasive queries, but a good offshore account will allow you to make such transactions online effortlessly, and into the many millions of dollars. The offshore accounts also free the customers from red-tape or bureaucracy.
Dude when last you open an account anywhere? All banks have aknow your customer obligation-and you think its a good idea to have your assets in a place not restricted by any rules???
Multiple currencies at your fingertips – Another very important advantage are the provision of multiple currencies. The customers can swiftly change between foreign currencies at a fraction of the cost of doing it at home. Most of the offshore accounts also offer FOREX and trading accounts. This enables the customers to instantly buy and sell at the click of a button from a tax-free offshore base.

Sounds like any 1 of a gazillion accounts -let me help you -www.interactive brokers.com

This seems to be a cut and paste from an out dated source.

Later

[Scorpio]

Lindsay, can you provide evidence in support of your statements in post #2 ?

My guess is you cannot, but I will give you the beneift of the doubt and wait for your response.

[J lindsay]

Lindsay, can you provide evidence in support of your statements in post #2 ?

My guess is you cannot, but I will give you the beneift of the doubt and wait for your response.

Wrong Scorpio, of course I can provide evidence. What specifically would you like to dispute by asking me for evidence?