How To Set Up An Offshore Bank

Offshore banking is not as popular as it used to be, due primarily to the pressure exerted by international organizations (FATF, OECD, etc.) on offshore jurisdictions, and also to the enactment of legislations such as the Patriot Act in the US, which restrict foreign fund transfers and correspondent banking relationships. In spite of this context, offshore bank licenses are still one of the main products offered by some offshore financial centers. For certain e-businesses, setting up their own offshore bank might be an option worth exploring.

The following questions have been addressed in this article:

What is an offshore bank?
What are the benefits and uses of an offshore bank?
What are the different types of licenses?
How are offshore banks regulated?


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