<iframe width="560" height="315" align="center" src="http://www.youtube.com/embed/M8GKc3P6_eA" frameborder="0" allowfullscreen></iframe><br><br>So are actually the main advantages obtaining an offshore account? The obvious one is tax minimisation - working where tax is legally not payable. Another is privacy. Most offshore locations have laws in place guaranteeing monetary privacy.<br><br>Many offshore banks offer telephone and internet based banking that are suitable for the working executives who lead a busy lifestyle. However certain countries prohibit its residents from opening an offshore bank account.<br><br>Offshore trading and offshore banking for asset protection one other useful during times of political turmoil. Those who live within unstable country and fear that their assets in a position to seized through the government (e.g. white farmers in Zimbabwe, who had their farms seized in the government) must invest their cash in a secure place where their government can't touch it.<br><br>The HIRE Act sounds harmless enough, right? Seems like something job producing... yet another round of offers. Yet, hidden starting on page 27, is America's widest reaching attack yet on offshore banks.<br><br>A modernized infrastructure made it possible for the islands to restore electricity within 24 hours, after 3 hurricanes passed over them in 1996. This proved to potential investors, the Islands' ability to recover quickly to natural disasters, with poor disruption of economic.