Offshore Banking Not Just for Super Rich; Online Services Make Offshore Tax Benefits Accessible to All

Online, September 17, 2012 (Newswire.com) - For centuries, offshore bank accounts have been used by the wealthy to help avoid paying taxes. While many efforts have been made to squash these practices, they have been overwhelmingly futile. Even the G20 Treaty which was signed last November with the goal of ending banking secrecy has proven unsuccessful as bank depositors just more their accounts from places like Switzerland to new offshore banking havens like Hong Kong.

While offshore banking may not be anything new, the way it is done has drastically changed over the past decade. According to the banking experts at the newly-launched website OffshoreBankingAndCompanyFormation.com, "Offshore banking used to be just for the super-rich. Only they could afford the frequent trips to tax havens like Luxembourg and accountants to manage their funds. The advent of the internet changed all of this though by making offshore banking readily accessible to all people right through their home computers."

Individuals and small businesses who wish to set up offshore bank accounts can do so through online companies. These companies typically will have agents located in offshore tax havens who can quickly and efficiently take care of the paperwork required to set up a bank account abroad. In one report from Offshore Banking and Company Formation, an intern was even able to set up a bank account in Panama for his employer via email.

Many online offshore banking companies also offer company formation as part of their services. These offshore companies can be very powerful when it comes to keeping financials private, reducing taxes and protecting assets. Offshore Banking And Company Formation includes profiles of the top tax havens, and also discusses the procedure for and benefits of opening a company in the countries.

"Offshore banking and company formation offer incredible tax saving and asset protection benefits. There is no reason that individuals shouldn't be taking advantage of these opportunities, especially since packages can be purchased for as low as $300. You no longer have to be Mitt Romney to have an offshore account."

To learn more about setting up a bank account or company abroad, visit OffshoreBankingAndCompanyFormation.com.