What is an offshore bank?

Answer 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 »

Top Q&A For: What is an offshore bank

What are offshore bank accounts?

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 »

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 »

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 »

How to Transfer Funds to an Offshore Bank Account?

An offshore banking account is a helpful financial tool for individuals and businesses alike. People who travel abroad frequently often find that maintaining this type of account and transferring f... Read More »