Actually the ever-changing global economy, the importance of not only how much you make, but also how much you keep, arises as a priority. Many individuals have chosen offshore banking as a solution.

Before, it was only very rich individuals who could afford the use of an offshore tax haven. There are now estimated to be well over 2 million offshore firms registered around the world. The offshore financial business has grown up in the last 20 years because companies, as well as individuals, realized the benefits of holding assets outside their home countries

The growth of offshore investments for individuals has been spurred by two factors. First, rapid advances in information technology, which have reduced the taxation cost and difficulty of managing funds in far off places. Secondly, the actual number of offshore centers has increased rapidly and thus introduced competition into what was once a high cost and quite exclusive business.

Offshore locations are used by some of the worlds leading companies as a perfectly legal way of lowering their corporate tax bills. Increasingly, private individuals also use an offshore location as a completely legitimate way to invest, and cut the resulting tax bill on the proceeds. Unbeknown to you, investments that you might have made onshore through a mutual fund or superannuation fund, are ultimately being managed by a firm registered offshore.

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