Off-shore bank accounts can help grow your wealth.
Though they sound exotic, off-shore bank accounts aren't hard to open. Off-shore just means that it's located in a country other than where you live. All major American and international banks can help you open one. You just need to have money. The main advantage to keeping money in an off-shore account is the tax benefits. Most people choose to open off-shore accounts in low tax jurisdictions. By going through a major bank, you can be sure that your money is safe.
Instructions
1. Contact your bank. If it's a small local bank, try one of the larger ones. Citibank and HSBC are good options. They have branches all over the world.
2. Ask to speak to an advisor about off-shore banking options. The advisor should be able to recommend several off-shore locations. Switzerland, Luxembourg and Andorra are popular tax havens, as is the island of Jersey.
3. Ask about the tax advantages of each location.
4. Choose a location based on your tax priorities. It's a good idea to pick a country with a stable, democratically elected government.
5. Ask the bank to set up your new off-shore account.
6. Transfer money into your new account.
