Offshore Banking Services
Offshore banking services are essentially similar to onshore banking services. In other words, it is doing banking tasks and obtaining banking services just like in your home country of residence.
You may live in USA, United States of America, UK, United Kingdom, EU, Europe, European Union, Middle East, Africa, Australia, Brazil, Russia, China, India, Malaysia, Singapore or any country in Asia, South America or other parts of the world, yet may still need the financial and banking services of an offshore bank service. The main difference between offshore banking services and the local bank service next door to you is that an offshore bank service is physically located outside your country of residence.
We shan't go into the details of how to set up an offshore banking account as these involve mainly paperwork which any good offshore banker can perform for you as a matter of basic professional banking service.
What you should be cognizant is the fact that for certain high net worth individuals, offshore banking could be an essential option in the management of their personal finances.
Such personal finance planning may involve issues of personal taxation, estate planning, offshore wealth creation, offshore investments, trust investments, wealth inheritance and distribution, business-related banking requirements or other portfolio management considerations where offshore banking may play a role.