In today's fast moving business world there are many legal ways to reduct your or your company's tax liabilities. Offshore Tax Banks offer Personal and Corporate Bank Accounts in many jurisdictions and provide their clients with the same service and products as any other bank does.
The map below shows the most popular offshore tax banks. Find a full list of all offshore jurisdictions here.
Many people often misunderstand the relation between their tax liabilities and the role of their bank. A common belief is that the bank starts to send reports to the tax authorities as soon as money is being received in an individual's account. This is in almost every democratic country not the case.
The great majority of the banks today are corporations which simply offer their services to the public. They have not been put in place by any government body and therefor do not report about individual accounts to the authorities unless there is a motivation. Most banks will only cooperate when there is an official request from the authorities. Any investigation on tax related issues will always be initiated by the government and not by the bank.
Offshore Tax Banks are a legal way of paying no tax on any kind of income and in most offshore jurisdictions companies have no accounting or audit obligations. The company does not have to do any business at all and in most cases the companies only serve to own assets for their owners.
Incorporating an offshore company costs as little as $1900 and often takes less than 2 business days. Once the company is established an offshore tax bank will set up a bank account and funds can be transferred into the safe haven of an offshore jurisdiction.