Whether banks call themselves offshore or private is irrelevant, it is what they can offer customers that count
To be 'offshore' is a much misused and misunderstood phrase. In and around the UK, the word relates mainly to the Channel Islands and Isle of Man as offshore UK, but in truth offshore means assets held outside of the client's country of origin. Notwithstanding many measures to repatriate assets to their country of origin, the flow of funds offshore continues, although its purpose of being offshore has altered and is now dominated by financial planning. Competitive advantages across differing jurisdictions will always exist as indeed they exist across differing businesses. British offsho...
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