OFFSHORE FINANCIAL CENTRES
In terms of offshore banking centres, in terms of total deposits, the global market is dominated by two key jurisdictions: Switzerland and the Cayman Islands. In particular, Jersey, Guernsey and the Isle of Man are known for their well regulated banking infrastructure. Some offshore jurisdictions have steered their financial sectors away from offshore banking, as difficult to properly regulate and liable to give rise to financial scandal.
LIST OF OFFSHORE FINANCIAL CENTRES
British Virgin Islands
Channel Islands (Jersey and Guernsey)
Saint Kitts and Nevis
Turks and Caicos Islands
Delaware United States Of America
Isle of Man
Antigua and Barbuda
An Offshore Banking are an important part of international financial system as half of the capital of world economy flows through Offshore Banking.
People generally operate their offshore account during vacations as they spend their holidays abroad. So they do require foreign currency, which offshore bank provides. Also a lot of advantage is provided apart from those of commercial banks like privacy.
However it influence crimes as full confidentiality about the account is maintained. Any person after fulfilling certain criteria can open an offshore account.
From the project, I would like to infer that a wide spectrum of offshore banking centres are known. Offshore banking makes avail of tax exemptions and higher interest rate in foreign currency. This helps to earn foreign currency. It becomes mandatory for the businessman and the organizations who have a global business.
Thus, Study about offshore banking will help to acquire more knowledge & certainly have a positive effect in future.
Offshore Web Sites:
Latvia Bank account
Saint Vincent Bank account
Austrian Private Bank account
Swiss Banking accounts