Advantages of a Cayman Islands Bank Account. No capital gains tax, corporation tax, withholding tax, property tax, payroll tax, or income tax payable by. You may have wondered: “What can an offshore bank account give me that an account at Bank of America can't?” The answer is: A wide range. Traditionally, both countries are key destinations for private and offshore banking. Switzerland I always hear about these areas being used for offshore bank accounts. Why these countries in . What's the benefit of having offshore bank accounts, and who (if anyone) should consider this? Where is the best place to open. If you prefer to manage your own investment account, I recommend the following brokerage: Experts believe that as much as half the world's capital flows through offshore centers. Financial statements from your current bank to prove a satisfactory relationship. Just south of Cuba and northwest of Jamaica, the Cayman Islands are a British Overseas Territory in the western Caribbean. The changes best online betting account the Singapore Companies Act will hopefully make business entities more transparent as well as mitigating the risks of money laundering and terrorist financing.