What is an Offshore Bank Account

This term is not very old because after the Panama leaks majority of people get the idea about this term. Now the question is what it is all about. First thing I will explain here that majority of traders and big businessmen were already using this term but in less developed countries and middle-class people, it was not so much common. Offshore accounts are actually being offered by top banks of most of the developed as well as less developed countries and these accounts are considered very secure and personal accounts. Nobody allowed to get any information about these accounts. Now everybody wants to know with much curiosity that what the purpose of these accounts is. So simply and in clear words, I will mention that these offshore accounts are most useful to save taxes. Especially in Dubai offshore banks are frequently found because the big traders from all over the world come to Dubai very often for business projects and investments deals as Dubai is a golden place in terms of economic purposes. The market of Dubai has a global impact and too much potential that everyone through a little planning can get a lot of profit through a small business setup.

Offshore accounts – legal or illegal

Well, I ask you a question first that if top banks in most of developed as well as less developed are dealing in this area then can you say that it would be an illegal process? If yes then what are their government bodies doing in their home country? And if it is a legal process then why most of the business tycoons and political personalities are being under threat from courts in their home country. As because of Panama leaks many rich traders and investors are facing cases regarding their offshore accounts. Take a deep breath I am going to answer both questions. But the second question will be answered first. The reason is that it will make a sense about the first question. When Panama leaks was a hot debate in world news, most of the people were named on the accounts of offshore. We will take two examples first the prime minister of Pakistan and second the prime minister of England. Prime minister of Pakistan has to resign for having offshore accounts for the supreme court of Pakistan not because he had an account but because of money transfer or money trail through which the money was sent was illegal. This money sent through an illegal way and it is completely considered as a corruption case. So that’s why he came to question. On the other hand, prime minister of Great Britain due to having offshore accounts on the name of his father and he have all proofs of it and court and the other party could not prove any illegal money trail so nobody questioned him after he has given the complete documents. So the conclusive point is that having offshore banks accounts is not any illegal process it is completely a legal process and you can save your tax money by using financial strategies that would not question you morally or ethically.

Offshore accounts – top banks of Dubai

Dubai has become a mini world and an economic corridor for rest of the world. Trade between Asia and Europe has become compulsory in one or other way but using the gateway of Dubai. That’s why the state is enjoying many international facilities. People of Dubai are based on mostly foreigners and estimate half of the population of Dubai are outsiders who come to Dubai for business purposes. In this regard, the banking sector of Dubai offers the big investors and traders many financial services. Along all other offshore bank accounts are being offered to big investors for the sole purpose security. Many traders from less developed nations put their money in offshore bank accounts of Dubai. It is the safest place for their savings.

Now someone for sure wants to know which one bank is most suitable and best for having offshore accounts. So I will tell you that in my opinion you might be not agreed with me, Mashreq bank of Dubai is best for offshore accounts for two reasons. First, the bank's policy is very strict for privacy about and nobody is allowed to get access to someone personal account either it is the government of a state. The second reason is that best financial minds are working that can provide you with best wealth management services.

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