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Six Myths About Offshore Banking

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First published at 12:55 UTC on October 7th, 2020.

#business
#bitcoins
#nomadcapitalist

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https://www.nomadcapitalist.com/offshore-banking/

Many people think they can't open an offshore bank account because of inaccurate information from the internet. Even worse, many people believe banking overseas is illegal because of Hollywood …

https://www.nomadcapitalist.com/offshore-banking/

Many people think they can't open an offshore bank account because of inaccurate information from the internet. Even worse, many people believe banking overseas is illegal because of Hollywood myths.

Here are six offshore myths debunked:

1.It's illegal to bank offshore
2. It's all about tax evasion
3. Money offshore is automatically tax-free
4. Only the rich can do it
5. Offshore banks are all on tiny islands
6. Americans can't open accounts thanks to FATCA

LESS