Is the income generated from offshore sources taxed by income tax?
Some countries require their citizens to report all the income generated from all sources and tax them. The answer to this question varies from country to country. If my income is taxed, then why should I use offshore banking services? There are many other benefits that offshore jurisdictions offer. They include asset protection, estate planning, bank secrecy, better returns and confidentiality. I am interested in privacy, confidentiality and secrecy. Is it included? Offshore jurisdictions offer high levels of banking secrecy and confidentiality; however they are unable to guarantee absolute confidentiality. Banks carry a requirement to report all suspicious transactions that in theory could be a result of criminal conduct. Foreign countries may get the information if there is strong suspicion of a serious crime. Can I get debit/credit card linked to my offshore account? Yes. You can get a credit/debit card and have a full access to the account through ATM. What is minimum balance to s
