@ISIDEWITHQuestionseconomy9yrs ago

Should citizens be allowed to save or invest their money in offshore bank accounts?

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.

Answer Overview

Response rates from 1.4k India voters.

58%
Yes
42%
No
37%
Yes
37%
No
21%
Yes, as long as offshore income is reported
4%
No, too many wealthy citizens are abusing loopholes in offshore banking laws to evade taxes
1%
No, and neither should corporations and business organizations

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Other Popular Answers

Unique answers from India voters whose views went beyond the provided options.

 @9FMZP8Hanswered…1yr1Y

Yes provided they have not saved there money into a high-risk country

 @95JD4WHanswered…2yrs2Y

Yes, but Remove all Loopholes and it should be reported.

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 @ISIDEWITH submitted…3 days3D

Iran Warns to U.S. Allies Don’t Help Israel, or You’re Next

Tehran is threatening in secret diplomatic backchannels to target the oil-rich Arab Gulf states and other American allies in the Middle East if their territories or airspace are used for an attack on Iran, said Arab officials.Israel has threatened Tehran with a severe reprisal after Iran fired about 180 ballistic missiles at Israel earlier this month, with some Israeli officials and commentators pushing for damaging strikes on Tehran’s nuclear facilities or oil infrastructure. In that event, Iran has warned it would respond with devastating hits on Israel’s civilian infrastructure, and would retaliate against any Arab state that facilitated the attack, the officials said.The Arab officials said the countries that Iran has threatened include Jordan, the United Arab Emirates, Saudi Arabia and Qatar, all of which host U.S. troops. These states have told the Biden administration that they don’t want their military infrastructure or airspace to be used by the U.S. or Israel for any offensive operations against Iran, the officials said. While the Iranian threats are vague, they have raised concerns in energy-rich Persian Gulf states that their oil facilities—long viewed as protected by an American security umbrella—could be hit, the Arab officials said. U.S. military installations and forces in the region could also be at risk in a region with one of the highest concentrations of American troops in the world, they added.While the Iranian threats are vague, they have raised concerns in energy-rich Persian Gulf states that their oil facilities—long viewed as protected by an American security umbrella—could be hit, the Arab officials said. U.S. military installations and forces in the region could also be at risk in a region with one of the highest concentrations of American troops in the world, they added.

▲  4723 replies1 disagree