What are offshore bank accounts?

Answer For a bank account to be considered "offshore," it must be in a different location than the country of residence of the depositor. There are official offshore financial banking centers throughout t... Read More »

Top Q&A For: What are offshore bank accounts

Are offshore bank accounts legal?

On One Hand: Yes, They AreAccording to Shelter Offshore, offshore bank accounts are legal. There is no law prohibiting American citizens from moving money across international borders. There are se... Read More »

What Are Offshore Merchant Accounts?

An offshore merchant account is a bank account located outside the merchant's home country that allows the merchant to receive payments and handle transactions. Offshore merchant accounts accept fo... Read More »

What is an offshore bank?

An offshore bank is not physically located in the United States and is not subject to American banking laws.REASON FOR USEOffshore banks, such as in some Caribbean islands, are sometimes used by pe... Read More »

What is an offshore bank account?

An offshore bank account is simply a bank account in a country other than your country of residence. According to HSBC, reasons to have an offshore bank account are potential tax advantages, the co... Read More »