The Offshore bank account or rather international banks, like it is called in some quarters are authorized institutions in Belize, Seychelles and British Virgin Island. They are authorized by the Banks and Financial Institutions Act of 1995 and the Offshore Banking Act, 1996 and the Money Laundering (Prevention) Act, 1996. By jurisdiction these banks cannot offer services to locals or natives .This so because the 1995 law defines offshore banking as getting money foreign money from non-residents at interest or account, savings account, and investing the foreign money to offshore banking.
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Offshore Bank Account with International Banking