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⍰ ASK Can an offshore bank account be used to receive or transfer funds from abroad?

Yes, offshore bank accounts can be used to receive or transfer funds from abroad. They are often opened by individuals or businesses looking to hold or manage international assets, transactions or investments. Transfers between offshore and domestic bank accounts can be made through wire transfers, electronic funds transfers, or other methods. However, regulations, compliance and fees may vary depending on the country where the account is held and the account holder's country of residence.
 

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