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 |
34% Yes |
40% No |
16% 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 75.3k UK voters.
Loading data...
Loading chart...
See how importance of “Offshore Banking” has changed over time for 75.3k UK voters.
Loading data...
Loading chart...
Unique answers from UK users whose views extended beyond the provided choices.
@8WXTV6M3yrs3Y
No if it's to avoid tax.
@8WF3V9G3yrs3Y
Yes, but an effective solution must be in place to identify and seize illegal AND immoral movement of funds.
@DJPowell19843yrs3Y
Yes and set up legally to stop wealthy citizen abusing loophole and evade taxes.
@DAVIE3yrs3Y
The question will be asked via Liquid Democracy, if the answer is no, then we will automatically prevent people from saving money in offshore accounts and make it illegal.
@9LP4YWZ4wks4W
Citizens should be allowed to invest, save their money how they see fit. It’s hard earn cash. End of
@9LKD4691mo1MO
Only if they can show a legitimate reason for the money being put offshore - e.g. having a second home in that country
Explore other topics that are important to UK voters.