There are several reasons why businesses might choose to use offshore accounts:
Tax Optimization: Many offshore jurisdictions offer low or zero tax rates, allowing businesses to potentially reduce their overall tax liability. Asset Protection: Offshore accounts can provide a level of protection against litigation and claims from creditors, safeguarding a company's assets. Regulatory Benefits: Some offshore jurisdictions have more lenient regulatory requirements, making it easier to conduct business. Operational Efficiency: Offshore accounts can facilitate smoother international transactions by allowing businesses to operate in multiple currencies and manage cash flow more efficiently.