Here are the benefits of offshore banking.
1. Offshore banking offers different tax advantages that are not available in domestic banking. This, however, depends on many factors like how taxes are paid in your country of residence. Consulting with a professional in this matter is a good move.
2. Offshore banking provides access to diverse financial products like mutual funds and structured notes. There are banks that offer the services of an international brokerage firm for global trading.
3. Offshore banks employ sturdy controls. They build the trust and confidence of their clients. They provide considerable amount of security and peace of mind to their customers. When you consider the volume of transactions that offshore banks process each day, you would understand what security and peace of mind means to their investors.