Offshore finance

Offshore finance refers to financial services that are provided outside a person's or company's home country, often in jurisdictions with favorable laws, low taxes, and strict privacy regulations. People and businesses use offshore accounts to manage their wealth, reduce tax liabilities, and protect assets from political or economic instability. This can include opening bank accounts, setting up investment funds, or establishing trusts. While legal and legitimate, offshore finance occasionally faces scrutiny due to potential use in tax evasion or money laundering, highlighting the importance of compliance with both local and international regulations.