The Site Offshore Swiss Bank Account

An offshore bank is a bank located outside the country of residence of the depositor, typically in a low tax jurisdiction (or tax haven) that provides financial and legal advantages. These advantages typically include: * greater privacy (see also bank secrecy, a principle born with the 1934 Swiss Banking Act) * less restrictive legal regulation * low or no taxation (i.e. tax havens) * easy access to deposits (at least in terms of regulation) * protection against local political or financial instability Banking in Switzerland is characterized by stability, privacy and protection of clients' assets and information. The country's tradition of bank secrecy, which dates to the Middle Ages, was first codified in a 1934 law. All banks in Switzerland are regulated by the Federal Banking Commission (FBC), which derives its authority from a series of federal statutes.