What Is Offshore Banking?

Offshore Banking is when a person is using a bank that is outside of the country where they reside

, and these banks are usually located in a low or no tax jurisdiction territory. They provide excellent financial and legal advantages to their clients, as well as excellent ways to protect assets from financial and political instability that exists in a day to day business cycle.

When a person has an offshore account they are required to declare their income on their tax forms, regardless of if the accounts are numbered or not and many of these offshore banking locations are in such countries as Switzerland, Luxembourg, Monaco and Andorra (a small country in southwestern Europe).

Offshore banking has become much regulated since September 11, 2001 and although an offshore bank may report an income tax to authorities, they have no legal obligation to do so and have protection under the Bank Secrecy terms.

Carlo Scevola & Partners help their clients with offshore banking, and are located in Geneva, Switzerland. They have branch locations in six continents and provide their clients with global offshore banking options that are worth looking into, including strategic consultation, international management of wealth and asset management.

Caro Scevola & Partners also provide business and corporate management consulting services for companies who need help leveraging their international business.

Here are some of the services Caro Scevola & Partners are experienced in:

Matching industrial partners with each other

Feasibility and assessment of investment types

Studying and recommending suitable international operating procedures

Working with business models that are fitting for the companys market

Offering appropriate international alternatives for mergers and acquisitions

Specialists in asset management and protection

Carlo Scevola & Partners can offer their clients appropriate and legal ways to place their money in an offshore bank account, as well as, ways to obtain an offshore banking license, methods to set up a trust; the correct method to obtain a gambling license and how to register a private yacht or airplane. Each situation is different and tailored per the situation and requirements of their customer and so Carlo Scevola & Partners will ensure the privacy of the accounts they handle.

Since the laws and regulations regarding offshore banking are constantly changing and there are always new rules and regulations in each country, Carlo Scevola & Partners understand these subtle and dynamic differences and know how to apply the laws to each situation depending on the culture and customs of each country.

by: Peter Robertson

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