WHAT IS AN OFFSHORE BANK ACCOUNT?

An Offshore Bank Account is a bank account that is opened or opened in a country other than the country of origin or residence of the opener or depositary, in a bank domiciled in a territory that exempts taxes from funds whose source is totally foreign. In other words, opening an offshore bank account implies starting a banking relationship with a banking institution in a different country from which you reside. In this sense, the account will allow bank operations without having to pay fees or taxes in the country where the bank account is opened.


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