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⍰ ASK Can offshore bank accounts be used for international trade transactions?

Yes, offshore bank accounts can be used for international trade transactions. Offshore bank accounts offer businesses the ability to conduct transactions in multiple currencies, which can be useful for companies that conduct business globally. These accounts also offer the potential for lower costs and fees than those associated with domestic accounts, which can be a benefit for businesses that transact large amounts of money. However, it is important to note that there may be legal and tax implications for businesses using offshore bank accounts, and it is important to seek professional advice to ensure that all regulations are being followed.
 

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