{"id":533,"date":"2022-10-04T09:53:48","date_gmt":"2022-10-04T09:53:48","guid":{"rendered":"https:\/\/webfastsg.com\/offshore\/?post_type=encyclopedia&#038;p=533"},"modified":"2022-10-04T09:53:48","modified_gmt":"2022-10-04T09:53:48","slug":"offshore-bank","status":"publish","type":"encyclopedia","link":"https:\/\/webfastsg.com\/offshore\/encyclopedia\/offshore-bank\/","title":{"rendered":"Offshore Bank"},"content":{"rendered":"<p><span data-sheets-value='{\"1\":2,\"2\":\"An offshore bank is a financial institution that is located outside of the country of its primary customers. The term \\\"offshore\\\" simply refers to the location of the bank, typically in a tax haven or other jurisdiction with low banking regulations and fees. Offshore banks are often used by wealthy individuals and businesses to protect their assets and minimize their taxes.\"}' data-sheets-userformat='{\"2\":769,\"3\":{\"1\":0},\"11\":4,\"12\":0}'>An offshore bank is a financial institution that is located outside of the country of its primary customers. The term &ldquo;offshore&rdquo; simply refers to the location of the bank, typically in a <a href=\"https:\/\/webfastsg.com\/offshore\/encyclopedia\/tax-haven\/\" target=\"_self\" title=\"A tax haven is a country or territory where certain taxes are levied at a lower rate or not at all. Individuals and businesses can use tax havens to reduce their tax liability. Tax havens often have low or no taxes on income, capital gains, estate, and inheritance. They may also offer secrecy laws that&hellip;\" class=\"encyclopedia\">tax haven<\/a> or other jurisdiction with low banking regulations and fees. Offshore banks are often used by wealthy individuals and businesses to protect their <a href=\"https:\/\/webfastsg.com\/offshore\/encyclopedia\/assets\/\" target=\"_self\" title=\"An asset is anything that can be used to produce economic value and generate benefits. It may be tangible, like a factory or piece of land, or intangible, like a patent or copyright. In accounting, assets are divided into two broad categories: current assets and non-current assets. Current assets are those that are expected to&hellip;\" class=\"encyclopedia\">assets<\/a> and minimize their taxes.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>An offshore bank is a financial institution that is located outside of the country of its primary customers. The term &#8220;offshore&#8221; simply refers to the location of the bank, typically in a tax haven or other jurisdiction with low banking regulations and fees. Offshore banks are often used by wealthy individuals and businesses to protect &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/webfastsg.com\/offshore\/encyclopedia\/offshore-bank\/\"> <span class=\"screen-reader-text\">Offshore Bank<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":3,"template":"","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-global-header-display":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":""},"encyclopedia-tag":[],"class_list":["post-533","encyclopedia","type-encyclopedia","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/webfastsg.com\/offshore\/wp-json\/wp\/v2\/encyclopedia\/533"}],"collection":[{"href":"https:\/\/webfastsg.com\/offshore\/wp-json\/wp\/v2\/encyclopedia"}],"about":[{"href":"https:\/\/webfastsg.com\/offshore\/wp-json\/wp\/v2\/types\/encyclopedia"}],"author":[{"embeddable":true,"href":"https:\/\/webfastsg.com\/offshore\/wp-json\/wp\/v2\/users\/3"}],"wp:attachment":[{"href":"https:\/\/webfastsg.com\/offshore\/wp-json\/wp\/v2\/media?parent=533"}],"wp:term":[{"taxonomy":"encyclopedia-tag","embeddable":true,"href":"https:\/\/webfastsg.com\/offshore\/wp-json\/wp\/v2\/encyclopedia-tag?post=533"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}