Offshoring is the relocation of a business process from one country to another—typically an operational process, such as manufacturing, banking or supporting processes, such as accounting. Typically this refers to a company business, although state governments may also employ offshoring.
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Here are some of the more well-known places to offshore :-
- Belize with its Caribbean Sea shorelines, the barrier reef and high interest rates. These are not as good as P2P lending, but better that most banks.
- Cayman Islands are well-known as tax haven, meaning this country offers foreign individuals and businesses a minimal tax liability. Moreover, a politically and economically stable environment is a requirement.
- Jersey Channel Islands.
- Switzerland is the best place for asset protection because of the country's strict privacy laws.
- Singapore because of its reputation as a stable, safe place to store wealth. Singapore has strict banking regulations, meaning that your wealth is well-protected. The account process is usually fairly easy. In most cases, you can set up an account without ever travelling there.
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