Three Common Misconceptions about Offshore Banking
1. Offshore banking is a way to illegally evade taxes
While it is true that owning an offshore bank account in many jurisdictions will enable you to minimise your tax burden, you should and will not be able evade paying tax by having an offshore account.
2. Offshore banking is for criminals who want to hide their money
Contrary to what the headlines may say; the days of complete anonymous offshore banking are over, now there are comprehensive mutual sharing of financial information of account holders across borders.
Opening an account is not about hiding your assets, but about asset security.
3. Offshore banking is only for the ultra-rich
Nearly any individual with a few hundred dollars can open up an overseas account in say Belize, or a company in Nevis. Access to overseas markets it easier than ever before and is not just limited to the few.
There is such a wide variety of options when it comes to offshore bank accounts. While you might not get into places like Switzerland and Singapore with a few hundred dollars, however Andorra or Puerto Rico will gladly take your cash.
https://www.offshore-protection.com/company-formations-registrations
