Since most customers of offshore banks do not reside in the country where their bank is located, there is a direct need of reliable offshore internet banking solutions. Without it, it would take a lot of trust and perseverance to get money from A to B.
Offshore banking has numerous advantages. However when a bank closes its operations like FBME Bank Cyprus, drastic problems can occur. When customers are not able to freely transfer their funds where they want to, they will eventually leave.
When you need to decide which bank to choose for your activities it is recommended that you choose a jurisdiction with a long track record and reliable banking system. Especially when you use tax planning as it should and follow the rules of the game. Countries like The Netherlands, Luxemburg, UK or Switserland are extremely reliable. Going offshore then the Caymans’, Singapore, Hong Kong and BVI are worth to consider.
What most people must realize when they look for offshore banking facilities is that there are rules that need to be followed in order to prevent tax evasion. Tax evasion is punishable and companies and individuals who cross this thick line between tax evasion and tax avoidance, can (and will) be prosecuted. There is a reason family offices and multinationals cannot be condemned.