Almost all offshore jurisdictions
control banking activity, not least in order
to prevent money laundering.
Domestic
and offshore banking are usually separately
licensed; domestic banking is sometimes
reserved for local banks.
Offshore
banks are normally free of taxation - but
there is usually a hefty annual license
fee.
Banking secrecy
is usually very good in offshore jurisdictions,
often enforced by statute; but jurisdictions
increasingly have international agreements
that permit breaches of confidentiality
in some circumstances.
Click on
one of the IOFCs in the left margin
for further information on banking in that
jurisdiction...
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be kept updated as to our progress click
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