2
Sep
Sep
offshore office
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Would you trust an online based offshore bank?
So…simply put: I came across some website which offers 8% APY and they (IF I got that right…) don’t have offline offices – but just a single website and they claim to have a bank status registered offshore. So i have 2 questions actually:
1. Does it sound legit?
2. Even if they aren’t scammers – will I have some problems with IRS given that I will be investing offshore?
Thanks alot in advance and…happy holidays!
Does it sound legit that they are paying 8X the going rate for money? NO
You will not have an IRS problem as long as the interest is reported as interest income on your return and you pay the appropriate income tax.
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