Here are four reasons against opening an offshore bank account.
Are you surprised by the topic of this video concerning we talk about offshore strategy and plans so much?
Here in Nomad Capitalist, we're all about painting the whole picture, which means we talk about the good, the bad, and the ugly.
Now, while opening offshore bank accounts might be a good idea for some, there are still some downsides to this process that should be taken into consideration.
Even though offshore banking can provide you with additional interest and confidentiality, there are a few disadvantages as well.
Andrew is explaining some of the biggest concerns that you should have when thinking of banking offshore.
Those are: privacy, tax havens, taxation and lower cost.
Keep watching the video to find out the answers to the questions like how and why you should avoid offshore banking, and why you should be aware of old school, shady reasons to bank offshore.
We're not saying that transferring your funds offshore isn't something you should do, but before you take the plunge, make sure to know what you're getting into.
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ABOUT NOMAD CAPITALIST
Andrew Henderson travels to nearly 30 countries every year to stay up to date on the latest legal strategies for entrepreneurs and investors to pay less tax, grow their money faster, and build their personal freedom.
Andrew started Nomad Capitalist to help people like you follow his five magic words: "go where you're treated best". He has personally started foreign companies, opened offshore bank accounts, and obtained multiple second passports.
He also learned the hard way that perpetual information seeking is often the biggest barrier to getting the results you want. Many entrepreneurs spend months and even years constantly researching how to pay less in tax or live overseas, but are afraid to make the jump.
As a result, they get stuck and keep paying a fortune in taxes and never get the lifestyle they deserve.
Nomad Capitalist's Youtube channel is based on Andrew's vision that focusing on the end result, rather than the latest shiny object, is the best way to actually obtain the benefits of the Nomad Capitalist lifestyle.
About Andrew: http://www.nomadcapitalist.com/about/
Our website: http://www.nomadcapitalist.com
Our blog: http://www.nomadcapitalist.com/blog/
Work with Andrew: http://www.holanomad.com/