Countries with the most celebrated offshore banking are often ones that value your privacy above all else, as private data has become a highly sought-after resource in and of itself. In fact, many offshore banks criminalize the unauthorized sharing of banking information. Other benefits usually include lower taxes and higher interest rates. They are able to do so as they have lower operating costs, which in the case of Switzerland, is possible owing to tourism banking being one of their largest industries.
Naturally, organic geographical benefits are also to be considered when deciding where to set up an offshore account. For example, having a bank account in the same country as family will help streamline the process of constantly transferring money across borders. Perhaps you need to facilitate an international investment opportunity, and require a more direct way to manage your monetary wealth.
Explore the most optimal ways you can use offshore and international banking by putting 10X Wealth Mangement’s industry-leading advisors at the forefront of your financial endeavours.
