What is offshore banking International banking

What is offshore banking International banking - Jobnas
This number excludes the 7.6 million US citizens living and banking abroad, according to the US State Department. Also, not included in this total, are the number of US military people living all around the world. It doesn’t matter if you are a US citizen or an expatriate living overseas. Whatever the reason, most people can legally benefit from having an offshore account. Perhaps a more common misconception of offshore banking is hiding assets from the tax man. Hiring an in-house accountant can involve things like putting out a job advertisement, conducting interviews, training, and more. For example, the average salary of an accountant in India is 10,644 USD per year (salaryexplorer.com), while that of an accountant in the Philippines is 4,407 USD per year. This is comparatively lower than the average salaries in the US (57,899 USD – Indeed.com) or the UK (44,170 USD). There are dozens of other countries, in addition to Switzerland, to invest your money. Even marrying and potentially divorcing has proven to result in financial disaster, that many do not recover from. As such, they are visible and susceptible to judgments and confiscation, leaving you in the poor house. Making less interest on your money than the annual inflation rate erodes it. Offshore accounting talent pool