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Offshore Advantages





gorden
When the world is going offshore, the incidence of offshore banking has risen. Offshore banking has found many followers of late. The offshore banking offers an unrestricted environment where there is freedom from excessive taxation and bureaucracy. By investing in offshore banks, one can ensure access to tax effective ways of handling large amounts of money. Moreover, the privacy accorded in these transactions is high.

The offshore banks have all the qualities of a home based bank. It is as easy to open and access. Most of the transactions in an offshore bank can be done through a mail or fax. The offshore locations attract investors by offering them banking secrecy, a tax-free environment, legal protections against overseas civil court actions and a sophisticated array of private banking services.

For those investors who are seeking to invest and explore other markets, investing offshore can be a valuable option. The offshore bank accounts are available in more than one currency. For those investors who work in a different country or travel frequently, it is an extremely valuable option to invest in offshore accounts.
It also acts as a hedge against dramatic currency movements. Some investors buy currency that is recognized for its stability like the Swiss franc. This can help in avoiding the possibility of keeping all their money in one currency such as the dollar. Offshore investment is now widely possible in areas like the world energy research and energy conservation opportunities.
menino
Offshore banking opens up more options for individuals for their banking needs, but the offshore banks need to have onshore accessibility.
If you want to withdraw money, from an ATM, will the offshore bank be able to comply, unless it is affiliated with a local provider like VISA Electron, or other credit card vendors.
hunnyhiteshseth
On the flip side, offshore is also being used as safe-haven for corrupt politicians around the world to park their black money. Infact now Swiss Account has become synonym to a black money account because of their secrecy laws!

By the way, is the source of your post : http://cashflow.proboards.com/index.cgi?action=display&board=pft&thread=275&page=1
standready
Bank in the wrong country and that country could without reason take your money with no recourse but to say "bye"!
menino
I think offshore banking was a very viable option for countries which have a strong economic backbone.
The problem with today's economy is that its still unstable, but if that is the case, then if the country your residing in, and banking in has an economic problem then there's a risk there itself.

I remember a long time in India, (probably 2 decades ago), a bank opened, and my dad had put in some money there, and in less than a year, the bank went bankrupt, and no one could get their money out.
Thereafter, no Banks in India ever opened up without having some form of Government backing, and regulatory audits and management.

I believe that the Swiss may be opening its laws of secrecy to governments, which will hopefully crack down on corruption and lessen it to nothing.
hunnyhiteshseth
menino wrote:


I remember a long time in India, (probably 2 decades ago), a bank opened, and my dad had put in some money there, and in less than a year, the bank went bankrupt, and no one could get their money out.



Are you sure about this? Because as far as I know RBI gives federal security to every bank upto a certain limit which gets revised as and when required. And I guess this backing is there for many decades.
sketteksalfa
Offshore Outbound / Inbound Call Center Services

As one of the Philippines’ fastest growing call centers, Magellan Solutions is committed to delivering high-quality offshore outbound and inbound contact center services to small-to-medium enterprises globally.

From live order taking to applied engineering services, Magellan Solutions offers its customers consistent service delivery and unmatched customer service.



Inbound Call Center Services

* Customer Services / Service Fulfillment
* Inquiries/ Requests / Complaints Handling
* Help desk / Technical Support
* Order Taking / Order Entry / Order Processing
* Reservations / Booking / Authorizations
* Call Overflow / After Office Hours Support
* Dealer Locators
* Multilingual Support

Outbound Call Center services

* Telemarketing
* Campaign Management
* Market Research / Telephone Surveys
* Customer Retention / Loyalty Programs
* Billing Reminder
* Up-Selling / Cross-Selling
* Lead Generation

Other Services

* Email Response
* Web Chat
Colkins
I think Opening an offshore banking account is beneficial if you are doing business and are having difficulty in getting a bank to extend credit card transactions facility for your business. However, traditionally thought to be an asset protection strategy offshore banking which means getting a bank account in a foreign county doesn't really protect your assets if you were hoping to pay less taxes.
deanhills
Colkins wrote:
However, traditionally thought to be an asset protection strategy offshore banking which means getting a bank account in a foreign county doesn't really protect your assets if you were hoping to pay less taxes.
Agreed. And regulations have changed so much over the last few years, that it is very difficult to get an account. Interest rates are also really very low, and administrative charges high.
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