There are far more corporate clients with offshore banking needs than individual clients. They fall into one of the following categories:
1) Multi-national corporations.
2) Large industrial and trading companies.
3) Shipping companies.
4) Financial services and banking institutions.
The benefits of offshore banking for such companies are diverse and range from the fact that a large number of companies actually outsource parts of their operations overseas and require accounts in these countries to the fact that many offshore jurisdictions have tax free zones through which companies can operate all or part of their operations tax effectively.