{"id":10292,"date":"2010-04-21T04:46:36","date_gmt":"2010-04-21T04:46:36","guid":{"rendered":"https:\/\/www.amitbhawani.com\/blog\/?p=10292"},"modified":"2010-05-02T13:05:55","modified_gmt":"2010-05-02T13:05:55","slug":"what-is-an-offshore-bank","status":"publish","type":"post","link":"https:\/\/www.amitbhawani.com\/blog\/what-is-an-offshore-bank\/","title":{"rendered":"What is an Offshore Bank?"},"content":{"rendered":"

If you wish to know the meaning and different things related with an offshore bank then you should read on. An offshore bank refers to such a bank which is not in the country where the depositor resides but in some foreign country. Most of the offshore banks are chosen by people because they are located in low tax jurisdictions and offer various legal and financial benefits to the depositors. Some of the advantages of keeping money in offshore banks include higher level of privacy, less or zero taxation, convenient ways to regulate deposits, safety from local financial and political instability.<\/p>\n

\"Offshore<\/a>A large number of offshore banks are present in island countries at present but it does not mean that the term \u201coffshore banks\u201d is limited to banks in island countries only. Offshore banking is often related with safeguarding the money earned from criminal activities. It is related to underground economy, money laundering and tax evasion. If we talk about the advantages of offshore banks then we have a lot of them to mention. People who live in politically and financially unstable countries may have peace of mind by keeping their money in offshore banks located in financially and politically stable jurisdictions.<\/p>\n

One can find a lot of offshore banks which offer higher rate of interest on deposits made by people. When people find that opening and keeping a bank account in an offshore bank involves lesser cost and higher returns, they feel like depositing their money in offshore banks. Another advantage of keeping money in an offshore bank is that they do not charge tax on the interest provided by them. People who wish to evade tax from the money earned as interest on their deposits can keep their money in offshore banks.<\/p>\n

\"Offshore<\/a>One should know that various disadvantages are also associated with offshore banks. First, there is lesser financial security for the money kept in offshore bank accounts. Second, offshore banks are associated with criminal activities, organized crime and underground economy. Keeping money in an offshore bank may draw suspicion towards you if financial regulators of your country find this. Most of the times, offshore banks promote themselves by offering complete freedom from every type of legal and financial trouble but it is exaggerated in most of the cases. However, like local banks, all the financial services like money deposits, wire transfer etc. are offered by offshore banks.<\/p>\n","protected":false},"excerpt":{"rendered":"

If you wish to know the meaning and different things related with an offshore bank then you should read on. An offshore bank refers to such a bank which is not in the country where the depositor resides but in some foreign country. Most of the offshore banks are chosen by people because they are […]<\/p>\n","protected":false},"author":38,"featured_media":10296,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1280],"tags":[],"class_list":{"0":"post-10292","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-what-is","8":"entry"},"aioseo_notices":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.amitbhawani.com\/blog\/wp-content\/uploads\/2010\/04\/Offshore-Bank.jpg?fit=600%2C800&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":130,"url":"https:\/\/www.amitbhawani.com\/blog\/paypal-offers-withdraw-funds-directly-into-indian-banks\/","url_meta":{"origin":10292,"position":0},"title":"Paypal offers Withdraw Funds directly into Indian Banks","author":"Amit Bhawani","date":"October 30, 2007","format":false,"excerpt":"Paypal just offered another excellent feature to become a leading payment processor in india by adding directly funds withdrawal option in indian banks which previously was just limited to US banks. Currently only 2 countries ie US and India are allowed to use this feature as far as i know\u2026","rel":"","context":"In "Tips & Tweaks"","block_context":{"text":"Tips & Tweaks","link":"https:\/\/www.amitbhawani.com\/blog\/category\/tips-tweaks\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.amitbhawani.com\/blog\/wp-content\/uploads\/2010\/12\/withdraw-paypal-indian-banks.jpg?fit=739%2C294&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.amitbhawani.com\/blog\/wp-content\/uploads\/2010\/12\/withdraw-paypal-indian-banks.jpg?fit=739%2C294&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.amitbhawani.com\/blog\/wp-content\/uploads\/2010\/12\/withdraw-paypal-indian-banks.jpg?fit=739%2C294&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.amitbhawani.com\/blog\/wp-content\/uploads\/2010\/12\/withdraw-paypal-indian-banks.jpg?fit=739%2C294&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":3869,"url":"https:\/\/www.amitbhawani.com\/blog\/ifsc-code-banks\/","url_meta":{"origin":10292,"position":1},"title":"Indian Banks IFSC Codes List for Paypal NEFT","author":"Amit Bhawani","date":"April 27, 2009","format":false,"excerpt":"Most Indian Paypal users are in search for the IFSC Codes which is required when they are trying to Withdraw funds to their Bank Accounts. Paypal uses the National Electronic Funds Transfer (NEFT) system for Funds Transfer, which is the reason you need to Enter the correct IFSC code of\u2026","rel":"","context":"In "Tips & Tweaks"","block_context":{"text":"Tips & Tweaks","link":"https:\/\/www.amitbhawani.com\/blog\/category\/tips-tweaks\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.amitbhawani.com\/blog\/wp-content\/uploads\/2010\/12\/review-bank-account.jpg?fit=773%2C219&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.amitbhawani.com\/blog\/wp-content\/uploads\/2010\/12\/review-bank-account.jpg?fit=773%2C219&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.amitbhawani.com\/blog\/wp-content\/uploads\/2010\/12\/review-bank-account.jpg?fit=773%2C219&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.amitbhawani.com\/blog\/wp-content\/uploads\/2010\/12\/review-bank-account.jpg?fit=773%2C219&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":1673,"url":"https:\/\/www.amitbhawani.com\/blog\/icici-bank-secure-safe-bankrupt\/","url_meta":{"origin":10292,"position":2},"title":"ICICI Bank Secure & Safe Not BankRupt","author":"Amit Bhawani","date":"October 13, 2008","format":false,"excerpt":"Here is a message i recieved from Mr. V.Vaidyanathan, Executive Director ICICI Bank Ltd in relation to the ICICI Bankrupt scenario and the bank financial positions. RBI had also announced that the funds of the investors is completely safe with ICICI bank and no one had to worry, followed by\u2026","rel":"","context":"In "Tech News"","block_context":{"text":"Tech News","link":"https:\/\/www.amitbhawani.com\/blog\/category\/tech-news\/"},"img":{"alt_text":"Icici Bank Logo","src":"https:\/\/i0.wp.com\/www.amitbhawani.com\/Images\/I\/ICICI-Bank-Logo.gif?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":10474,"url":"https:\/\/www.amitbhawani.com\/blog\/what-is-wire-transfer\/","url_meta":{"origin":10292,"position":3},"title":"What is Wire Transfer?","author":"Jyoti Bhawani","date":"April 23, 2010","format":false,"excerpt":"There are numerous ways to send money from one person or company to another. Wire transfer is one of the most commonly used methods for transferring money from one person to another. In order to make a wire transfer, a person needs to visit a bank or the cash office.\u2026","rel":"","context":"In "What is Guide"","block_context":{"text":"What is Guide","link":"https:\/\/www.amitbhawani.com\/blog\/category\/what-is\/"},"img":{"alt_text":"Bank Wire Transfer","src":"https:\/\/i0.wp.com\/www.amitbhawani.com\/blog\/wp-content\/uploads\/2010\/04\/Bank-Wire-Transfer-150x150.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":374,"url":"https:\/\/www.amitbhawani.com\/blog\/steps-how-to-transfer-funds-from-your-icici-bank-account\/","url_meta":{"origin":10292,"position":4},"title":"Steps : How to Transfer Funds from your ICICI Bank Account","author":"Amit Bhawani","date":"March 12, 2008","format":false,"excerpt":"ICICI bank is one of the best private banks in India which offers online funds transfers from one account to another and this feature can help you out in saving tonnes of time, paper works and resources. This feature helps you to move any amounts of funds from one account\u2026","rel":"","context":"In "Tips & Tweaks"","block_context":{"text":"Tips & Tweaks","link":"https:\/\/www.amitbhawani.com\/blog\/category\/tips-tweaks\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":10677,"url":"https:\/\/www.amitbhawani.com\/blog\/what-is-money-laundering\/","url_meta":{"origin":10292,"position":5},"title":"What is Money Laundering?","author":"Jyoti Bhawani","date":"April 30, 2010","format":false,"excerpt":"Money laundering refers to the conversion of huge amounts of money earned from illegal activities like smuggling in to the out result of legal sources. In different countries, money laundering is treated as a crime having varied definitions. It is one of the most important operations related to underground economy.\u2026","rel":"","context":"In "What is Guide"","block_context":{"text":"What is Guide","link":"https:\/\/www.amitbhawani.com\/blog\/category\/what-is\/"},"img":{"alt_text":"Money Laundering","src":"https:\/\/i0.wp.com\/www.amitbhawani.com\/blog\/wp-content\/uploads\/2010\/04\/Money-Laundering-150x150.jpg?resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.amitbhawani.com\/blog\/wp-json\/wp\/v2\/posts\/10292","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.amitbhawani.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.amitbhawani.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.amitbhawani.com\/blog\/wp-json\/wp\/v2\/users\/38"}],"replies":[{"embeddable":true,"href":"https:\/\/www.amitbhawani.com\/blog\/wp-json\/wp\/v2\/comments?post=10292"}],"version-history":[{"count":0,"href":"https:\/\/www.amitbhawani.com\/blog\/wp-json\/wp\/v2\/posts\/10292\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.amitbhawani.com\/blog\/wp-json\/wp\/v2\/media\/10296"}],"wp:attachment":[{"href":"https:\/\/www.amitbhawani.com\/blog\/wp-json\/wp\/v2\/media?parent=10292"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.amitbhawani.com\/blog\/wp-json\/wp\/v2\/categories?post=10292"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.amitbhawani.com\/blog\/wp-json\/wp\/v2\/tags?post=10292"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}