Thinking ahead can take the sting out of the biggest family expenses. The best time to consider alternatives to potentially damaging family expense is now, while you are rested, relaxed, receptive, and while choices are still possible. There is an axiom taught to new C.P.A. candidates that says the success of a project is 90% planning and 10% doing. This can be applied to any project, and most especially to the anticipation of the biggest family expenses.
First, let me state for the record, that yes, they are perfectly legal. In fact, offshore bank ing itself, while the rules may change a little, needs to stay legal. Forever. The economy depends on it. Money will always need to be transferred between countries, or trade would stop. So there will always be a need for offshore bank accounts.
"Then shall offshore bank account the righteous answer him saying Lord when did we see you hungry and fed you or thirsty and gave you to drink? When did we see you a stranger, and took you in? When did we see you naked and clothed you? Or when did we see you sick, or in prison, and came to see you? And the King shall answer and tell them, I tell you, inasmuch as you have done it to one of the least of these my brethren, you have done it to me. Then shall he say also to them on the left hand, depart from me, you cursed, into everlasting fire, prepared for the devil and his angels.
Well there are many reasons. First off, I think the wrong type of people are attracted into this business unfortunately. They think everything will be done for them and cash will start rolling into their offshore banking. Don't we all wish it was this easy!
Besides the simple necessity of owning a separate account while you live a unknown country, what is very attractive about just offshore accounts? Why do you find it that rich people make them?
Offshore banking is a view it now must for a lot of people for a lot of reasons. If you're thinking about putting your money into an offshore bank account, go ahead and do it. It is inexpensive, quick, easy, you can save money on taxes, protect your assets, and not a soul other than you and the banking staff have to know the account even exists. And they're not talking because they're not supposed to and, besides, they handle these accounts every single day, so they don't bat an eye at it. Just make sure you choose an economy that you are comfortable with. It must be a strong economy if you want peace of mind that your money is safe. It will remain safe as long as you keep an eye on economic performance and your own financial performance.