Do Any Regulations Forbid Foreign Business Or Banking?
Most countries encourage international trade and investment. As such, there are virtually no regulations forbidding citizens from doing business offshore or having offshore bank accounts or offshore companies. Should any major country ever forbid foreign banking or investing, international trade would quickly grind to a halt. Therefore, major countries will likely never forbid foreign business, banking or investing. Rather, sophisticated and knowledgeable individuals and corporations all over the world have used and will continue to use offshore jurisdictions, especially the Cayman Islands and the British Virgin Islands, because of their excellent reputation. MOST IMPORTANTLY, it should be noted that the due diligence requirements, especially after various rounds of “weeding out” of less reputable offshore service centers by international organisations such as the OECD and FATF in 1999-2001, are very high! In fact, whilst it can be very advantageous and interesting to do business in th
Related Questions
- What are the rules and regulations for establishment of Omani companies, subject to commercial companies law & foreign business and investment law?
- What are the regulations concerning taxes for enterprises with foreign investment and foreign enterprises engaged in consultation business?
- Do Any Regulations Forbid Foreign Business Or Banking?
