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(Almost) Everything you need to know about offshore bank accounts
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Offshore bank accounts used to be one of the biggest and best kept secrets in the world of finance, the kinds of bank accounts that were only ever utilized by major multinational corporations and some of the wealthiest people on the planet to hide their money in.
Then Hollywood found out about offshore bank accounts, started using them in most every thriller movie imaginable, and before long birdie much everyone on the planet had heard about offshore bank accounts – and most wanted to open up their own but never knew how!
Today, for a variety of different reasons, it’s easier (and both more difficult) to open up offshore bank accounts than it’s ever been in the past. But you need to make sure that you are going about things the right way.
While we won’t be able to cover absolutely everything in regards to this form of banking in this quick guide we are certainly going to be able to point you in the right direction and provide you with a tremendous amount of inside information to help you out.
If you’re ready to take the plunge, let’s dive right in!
What are the benefits of setting up offshore bank accounts?
The first thing that you have to realize right off the bat is that these bank accounts aren’t just for the super rich or the super famous any longer, but can instead be taken advantage of by pretty much anyone and everyone while offering a number of significant benefits along the way.
For starters, you’ll be able to cover up a tremendous amount of political risk the when you set up offshore bank accounts. The biggest threat to your money today isn’t the stock market or the collapse of real estate values, but instead your own government and how they are going to feel about you having “more money then you should”.
Civil forfeiture is a very real and scary thing in the United States today (and a big part of most every police department’s budget), and that’s just one reason why you’d want to hide the bulk of your wealth in a Cyprus or believes bank account today!
By choosing to use offshore accounts you are insulating your money from attack and keeping it out of the hands of a government that may not be quite as friendly towards your wealth as you had hoped they’d be.
Secondly, offshore account services and the banks that operate them are almost always fundamentally solid through and through – something that cannot be said about more traditional banks.
We saw in the mid-thousands exactly how unstable that the US banking system was, and only now are we starting to dig ourselves out of that hole. Greece was once believed to have rocksolid finances and a fantastic banking system, and now they are on the verge of complete and total collapse.
You don’t want to leave your money in the hands of people that don’t have your best interests at heart and may not be anywhere near as stable as they make themselves out to be.
Finally, the last real benefit that we will touch on here – but certainly not the last benefit you’ll enjoy when using offshore bank accounts – is the ability to protect your assets better than you’d be able to with most traditional banking solutions.
Many offshore account services allow you a tremendous amount of extra security and privacy than traditional banks do not, and almost all of them offer extra layers of safety and a “smokescreen” that allows you to protect your assets from those that would maliciously take them from you.
There’s a lot more freedom behind these offshore bank accounts, that’s for sure!
Opening an offshore account is a lot easier than most people think it’s going to be
The actual process for opening up an offshore account is simple and straightforward, and some would even consider it to be effortless. Offshore bank account services like those in Cyprus or Belize have really streamlined their operations, and many of them are looking for new ways to make the process even easier all the time.
The challenge – and the real difficulty behind signing up and opening one of these accounts – is not the actual process or the paperwork, but actually finding a legitimate operation that you know you are going to be able to trust.
Different offshore banks are going to have different rules and regulations you’ll need to meet to leverage their account services, and you need to be 100% certain you are always working with the very best of the best in this business.
After all, this is your money that we’re talking about, your wealth, and your most prized assets. This is the kind of stuff that you can never afford to leave to anyone that isn’t a complete and total professional with a 100 year or longer track record of safety, security, and financial stability.
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At the end of the day, offshore bank accounts can provide you with all of the banking advantages you’ve been searching for – but only after they have been set up and established the right way.
If you are ready to take the plunge and move forward with your own offshore bank account, you’ll want to get a move on things today. Check out your options, move forward with a trustworthy offshore bank service, and be sure to leverage all of the significant benefits and advantages that these offshore bank accounts have to offer.
Learn more about offshore banks Offshore bank - Wikipedia, the free encyclopedia
I wonder if you can read the date for when this was postedI wonder if OP knew about AEOI (automatic exchange of information) agreement between most of european and a lot of non european countries when he wrote this post. I'm from a country which plans to implement AEOI this or next year, so I guess if I open cyprus account this year they will report me next year, is that correct? isn't this defeats whole purpose of offshore bank account?
just 2 years ago, 2016, I think AEOI was signed in 2014, so 2 years after OP created postI wonder if you can read the date for when this was posted
In May 2014, forty-seven countries tentatively agreed on a "common reporting standard", formally referred to as the Standard for Automatic Exchange of Financial Account Information
This is an off-topic, but as far as I know, Turkey is not in the EU, so EU dont exchange financial info with Turkey, so any country will be good. In Bulgaria we have some small turkish banks, and to my knowledge they deal only with Turkish citizens (or half turkish bulgarian citizens) because I have never seen bulgarian citizen with bank account with those banks, but they do exist.
Also the biggest problem in Turkey is that if you get caught they put you in prison, no questions. When we were in Turkey like 7-8 years ago we were told prisons are full with people involved into financial scam/not paying taxes, etc/. So they rather have financial "scammers" in prison, instead of real criminals.
At least they dont have their banks system linked like in the EU, I mean they exchange information for sure, but in the EU they took it to the next level a few years ago. Here they can't wait to apply the newest bulls**t coming from the EU regarding money laundering and such things on a very low level. I believe all of this is against normal people who find it not profitable enough to pay all the taxes, the big fishes launder their money at national level and don't give a ... about EU regulations.https://www.oecd.org/tax/transparency/AEOI-commitments.pdf turkey is part of AEOI agreement, so is bulgaria.
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