Switzerland is one of the most stable economies in the world making it one of the most popular countries for offshore banking. Their stable political status has helped their economy. They have remained neutral even in through two World wars. This has resulted in them being able to develop their banking systems. 5.6 % of their working population is in the banking industry.

They are one of the oldest countries to engage in offshore banking and certainly the most famous. Whenever we think of offshore or foreign bank accounts Switzerland will almost always come to mind.

Switzerland has quite a legacy of privacy standards in banking operations, dating back to the Middle Ages. Swiss banks are renowned for their rock-solid stability and their rigid pursuit of customer and information privacy and ensuring the safety of resources. All Swiss banks are controlled by the Federal Banking Commission (FBC). In the year 2003, about one-third of all offshore accounts were believed to have been held in Swiss banks. A year before that, in 2002, this number was much less as banks then were following stringent rules.

The Bank of International Settlements is headquartered in Basil. Statistics, as on May 2006, declare that the huge number of foreign banks operating out of Switzerland hold about 870 billion Swiss francs. The Federal Banking Commission is an autonomous agency, created to oversee most of the operations of the Swiss banks. And these activities include issues relating to investment funds and security markets.

Here are some points to keep in mind when you plan to use an offshore bank:

- Check what sort of services they can offer you. Especially take care that they will handle your global transfers quickly and efficently with a minimum of hassle.

- They should be offering the maximum tax advantages and pay attention to your confidentiality. Your privacy is very important and you can usually get an anonymous investment account to handle all your financial transactions.

- The political situation should be stable in the country and they should be friendly to foreign investments and accounts.

- The banking sector and the economy as a whole should be stable enough. This is imperative in view of your economic safety.

Reap the benefits of the various facets of offshore banking. There are for example, offshore investment companies, trusts as well as banks. Rope in some expert guidance before you actually invest. The Internet is a veritable minefield when it comes to looking for information in this regard and it is good to scour the web a bit before you put in your hard-earned money into any offshore banking or investment ventures. When you have the facts in hand, you can secure the benefits that offshore banking has up its sleeves.

It is best advised to verify the bank and country in which you want to invest in. You should always research on the laws, rules and regulations of the country?s government before investing in it. By knowing all the details of the investments and trusts you will benefit by getting the best deal.Peter Waterhaze is the chief editor for F offshore, a fantastic resource for information about offshore.