In the last months “offshore” has become a sensitive word in a negative way, due to the scandal made by media of Panama papers. But really holding an offshore bank account is so risky and dangerous? In this situation no one worries more for the fact of the hacking of a website – which in this case it was obviously illegal. But it’s not the topic of this article. The topic is the offshore business – can it really be a safety pillow of assets?
The overall banking system
The reality of US and European banking system since 2008 is insane. The most developed banking systems are basically are in debt, insolvency and with negative interest to trap their depositors funds in a failing system.
Facing the financial reality, it reviles that banks overseas has nothing to do with tax avoidance.
Overseas banks – highly capitalized and strong
Many overseas jurisdictions known also as offshore jurisdictions have highly capitalized and strong banks, moreover with a strict confidentiality policy. The most important matter for a bank is the financial stability.
The current digital era, geographically has no boundaries. That means there is no difference if your bank is located on the other side of the world – you have the access to the e-banking 24/7.
How to choose a bank?
Nowadays technical developments let us find and get in touch with any company, including the banks all around the world. The information is easily find-able but in the main time enormous large.
What are few of the characteristics of a good bank to consider:
· It’s liquidity;
· Assets in excess of liabilities;
· The security guarantees;
· Investment practices.
The objective is to keep your capital safe and the best solution would be to move at least part of your savings to a highly-liquid overseas bank.
Where to start? Simple – by letting a professional provider, for example World-Offshore, help you to open a bank account. A specialized firm will introduce you with overseas banks and their characteristics and more important will help you open the bank account from A-Z with a full support. The advantage is the years’ experience with the overseas banks and the verification of which banks are confidential and stable.