For many commercial businesses, offshore banking has its attractions. Most people may raise their eyebrows at offshore banking and think it is illegal and unethical. But they cannot be further from the truth.

Creating and depositing money in offshore banks are not illegal. In fact, in this fast-paced and globalized economy, many corporations and even individuals find it necessary to have accounts in foreign banks. These transactions are, of course, regulated by international laws, as well as subject to the host country's sovereign rule and policies.

The most popular offshore banking destinations for commercial entities is Antigua and Barbuda. In recent years, the Government of Antigua and Barbuda has implemented regulations that protect its image as a safe and ethical depository of foreign currencies. It has amended its International Business Corporation Act and the Money-Laundering (Prevention) Act. This is to continue the Islands' amicable relationships with the rest of the world's financial communities and institutions. Among the adjustments and guidelines included is the periodic inspection of all offshore banking transactions. The banks would also need to have detailed records on all their clients readily available. Moreover, the banks are also not allowed to process deposits and withdrawals for individuals or companies not registered as an accountholder. The Government will also have the right to confiscate the deposit of any convicted money launderer.

But just as the Government of Antigua and Barbuda has the sovereign right to implement its banking laws, it is also covered under the provisions of the International Business Corporations Act. This ensures that foreigners with bank deposits in the country maintain their rights so long as they obey the legal requirements of offshore banking.

There are companies in the United States that assist companies and individuals with offshore banking. They are experienced and licensed entities that know the ins and outs of Antigua offshore banking systems.