How Do You Receive Payment When Using An Offshore Account?
Establishing an offshore financial account provides benefits to individuals and businesses, the chief among which is to reduce tax obligations and protect assets from creditors, as permitted by law. A prime issue with an offshore account is how to receive payment when using an offshore bank account. There are two major avenues by which to receive payment when using an offshore bank account. Set up a wire transfer of funds from the offshore account to one located at a U.S. bank or other financial institution. A wire transfer is appropriate for larger sums of money. A wire transfer can be directed for a payment received by you or by someone else, including a business or another individual. Obtain from the offshore bank the standard form used by the institution to request a wire transfer of funds. Complete the request to wire transfer funds. The information you will provide is your own offshore account information and the U.S. financial institution and individual account information for t
