Create an offshore account, it means opening a contract with a bank located in another country than that of residence. The term “offshore” is however used in relation to countries which practice a particularly low tax, or ensure confidentiality and secrecy. It may well open an offshore account in Switzerland, Panama, Seychelles, French Polynesia and Wallis and Futuna.

With an offshore account, the holder’s identity and all its financial transactions are protected by bank secrecy. Full anonymity is not possible in general, except in uncooperative tax havens or judicial paradise: If order of justice in the country, the identity and financial activities of the client will be unveiled in Switzerland as in other banking havens. A numbered offshore account simply allows further restrict the circle of people who know the identity of the holder, but not an absolute barrier.

An offshore account increases the profitability of investments when has a tax treaty with the country of residence of the owner. In this case, the tax rate can be significantly lowered, and sometimes even reduced to zero. Furthermore, the accounts used as offshore accounts may be useful to all those who are stuck in the Bank of France since the ban bank does not even borders.