A look at why offshore banking is thought of as something clandestine - illegal maybe, immoral certainly - and why so many people completely misunderstand the concept of offshore banking.

So why are your government and banking community happy for the dissemination of false information to continue?

The Government

The government want to keep all of your money where they can see it - and tax it. 

Every penny or cent you earn in interest may be taxable by your government and therefore it benefits them to have your money onshore and within reach!

The Banking Community

All banks use your money for their own profitable gains.  That’s why you earn interest - though not much probably - on any money you place on deposit with a bank. 

Therefore, it’s in the bank’s best interests to have more money on deposit to use and profit from.

The irony is that your local bank probably accepts foreign deposits - money from other countries - and they most likely involve themselves in foreign investments as well - profiting from the fact that it is NOT illegal to move money overseas whilst discouraging you from doing the same!

Why Opening An Offshore Bank Account Is Safe And Easy

Easy: -

Thanks to the invention of the internet and the globalisation of business it is now easier than ever to open a bank account overseas, establish an offshore company or invest offshore. 

Depending on the jurisdiction you favour and the transaction or business you wish to conduct it can be as easy as filling in a form, writing a formal letter or submitting an application online...most offshore banks etc., never have to meet with you in order to do business with you.

Safe: -

Safety of funds and the protection of privacy and assets are all of paramount importance. 

All reputable offshore financial centres are regulated and it’s simply important to select an offshore jurisdiction that provides the level of regulation that you’re personally comfortable with.

It’s important to understand however that regulations are likely to be far less restrictive than “back home” - that’s the joy of “offshore” in most cases. 

Lack of restrictions allows for freedom - freedom to profit from the best investments worldwide, freedom for profits to grow tax free etc.