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Business Bank Account


What features are important for a small business bank account?
When comparing business bank account offers, the rates, offers and specials can be confusing. What are the most critical aspects that I should review when deciding to open a small business bank account? Is the size of the bank important?
You might have heard the term, offshore bank account, but maybe you didn’t know just what it referred to. Any bank account that is located in a country that is outside the residence of the account depositor, is considered an offshore account. These these accounts are in a low tax jurisdiction that then gives legal and financial advantages to the account owner.
The advantages are many but the most typical are easy access to deposits and this refers to terms of regulation as well as protection against financial or political instability.  This type of bank account offers greater privacy that began with the Swiss Banking Act of 1934.   A tax haven is the most common reason for someone to have an offshore account.
Most of the offshore banks are found on island nations and this term began on the Channel Islands, as they were offshore of the United Kingdom. It is a term that refers to these banks, regardless of its location.  Organized crime, tax evasion, money laundering and underground economy are all terms that have been connected with offshore accounts and it will probably remain that way, however, in a legal sense, theses account do not protect assets from personal interest or income taxes.

Category: Bank Account

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