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Offshore bank

Offshore bank Definition

An offshore bank is a bank located outside the country of residence of the depositor, typically in a low tax jurisdiction that provides financial and legal advantages. These advantages typically include some or all of

  • strong privacy (see also anonymous banking)
  • less restrictive legal regulation
  • low or no taxation
  • easy access to deposits (at least in terms of regulation)
  • protection against local political or financial instability





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