During the last couple of years, there has been a stupendous increase in the number of enquiries regarding offshore services.
For investors and business companies, offshore investments seem to be the right choice for safeguarding their wealth and assets and see them earn revenue without worrying about tax burdens.
The reason is offshore services are primarily provided by jurisdictions or countries with liberal taxation norms.
Coupled with a secured banking system, a relatively stable national economy, and tightly monitored regulations, these jurisdictions ensure that the offshore service offshore banks provide are relatively hassle-free.
Some of the most significant offshore services offshore banks are providing to customers include facilitating savings and other services through overseas banking accounts, providing access to offshore investments through offshore investment bank and permitting international business company (IBC).
Each of these services is explained below.

• Offshore banking, as the term indicates, is the process of opening a bank account and conducting banking operations in a foreign nation that is outside one's country of residence.
  The biggest advantage of having an offshore account is that one can save money without worrying about security.
  Overseas banking accounts have several advantages, particularly for high risk businesses such as online gaming sites or tourism websites.
  With an offshore banking account, these companies can apply for an offshore merchant account, thereby facilitating credit/debt card transactions.
  Secondly, offshore banks usually provide greater interest rates on deposits in offshore bank accounts.
  Thirdly, depending on the needs of the customers, a variety of banking solutions are provided to customers including different types of bank accounts, opportunities to apply for a wide range of loans and insurances that may not be available in their home land.
   
• Till recently, offshore services remained relatively deregulated.
   With the aim of regularizing offshore banking operations, countries or jurisdictions that provide infrastructure and facilitate the formation of offshore companies have initiated the concept of international business company (IBC).
  Also known as international business corporation, an IBC is a term used to describe any offshore company that can conduct its business operations anywhere in the globe except within the country it has been incorporated in.
   Offshore service providers also help in establishment of these offshore companies.
   
• Apart from providing asset protection, another additional service provided by offshore banking institutions is asset management through flexible financial services.
  Under this, the assets of the customer are invested by the bank in an appropriate manner so as to generate maximum returns.
  These investments primarily include purchasing bonds and securities of foreign companies, investment in offshore real estate, buying offshore mutual funds as well as investing funds in foreign stock markets.
  For this, all that the customer needs to do is to approach any reputed offshore investment bank and open an offshore investment account that provides accessibility to trade in securities or an offshore forex account through which one can trade in several different currencies.