An offshore (or foreign) bank account is a bank account you have outside of your country of residence. The benefits of an offshore bank account include tax reduction, privacy, currency diversification, asset protection from lawsuits, and reducing your political risk. In April 2016, Wikileaks released 11.5 million confidential documents, known as the Panama Papers, which provided detailed information on 214,000 offshore companies serviced by the Panamanian Law Firm, Mossack Fonesca. The document exposed how world leaders and wealthy individuals hide money in secret offshore tax shelters. The…
Read more50% Yes |
50% No |
35% Yes |
41% No |
15% Yes, as long as offshore income is reported |
6% No, too many wealthy citizens are abusing loopholes in offshore banking laws to evade taxes |
3% No, and neither should corporations and business organizations |
See how support for each position on “Offshore Banking” has changed over time for 82.2k UK voters.
Loading data...
Loading chart...
See how importance of “Offshore Banking” has changed over time for 82.2k UK voters.
Loading data...
Loading chart...
Unique answers from UK users whose views extended beyond the provided choices.
@9PWDD5L 4wks4W
Yes but thresholds should be introduced as to how much money one is allowed to invest offshore tax free
@98WCVNW1yr1Y
Private citizens should declare, but ban companies from doing so
@974V27W2yrs2Y
Yes, many important affluent citizens save or invest their money in offshore bank accounts
@96Q9GXZ2yrs2Y
Yes, as long as it is reported and taxed appropriately
@96J75C32yrs2Y
Yes, but only if they are citizens or have close family in said offshore land
Join in on the most popular conversations.