An offshore bank account is an account which is set up outside the country of residence of the account holder. Offshore banking can cater to investors of all levels and the process to open an offshore account is relatively simple and similar to that of your standard local bank account. Essentially an offshore account provides the means for wealth to be protected, preserved and ultimately increased, as favorable conditions are often offered by offshore banks. These factors have contributed to the increasing number of investors opting to deposit their money in international bank accounts.