What do you understand by term offshore bank, Accounting Basics

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Question 1:

(a) What do you understand by term offshore bank?

(b) What are the benefits of providing and receiving banking services from an offshore bank?

Question 2:

‘Everybody can become a company director as long as the person is of legal age and is sound of mind.'

(a) What are the different types of company directors?

(b) Explain the duties and the powers of a company director.

Question 3:

‘A pension fund is an arrangement under which an organization makes financial provisions for its employees as well as its senior executives.'

(a) What are the roles of the various parties involved in an offshore pension fund?

(b) What are the possible advantages of an offshore pension fund?

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