It is banking in a jurisdiction other than the country you reside.
Is offshore banking convenient?
Yes, with the Internet, e-mail, fax and telephone banking and the use of ATMs your money is just as accessible as it is from your local bank account. You can easily transfer your money around the world by electronic transfer, and can effectively bank wherever you are.
Do I have to travel to the jurisdiction to bank offshore?
No, there is no need to visit your offshore bank. You can simply bank from wherever in the world you live, via Internet, e-mail, telephone or post.

There is no such thing as a real “anonymous account”! Each bank that provides onshore or offshore banking services is required by law to know the clients in very comprehensive detail. In many banks, it is possible to open a bank account without a personal visit to the bank, but even in this case customer should provide Notarised or Apostilled identity documents, bank reference letters, utility bills and other documents allowing to identify the person opening the offshore bank account. This is simply required by offshore banking laws in each offshore jurisdiction and there are no exceptions. Sometimes there is a misperception that a number account is an anonymous account. The numbered account is an account preserving individual’s privacy when sending money to/from the offshore bank account, but it is no way anonymous. The bank knows the identity of the person beyond such an account even much better than with regular offshore accounts.

The term “numbered account” has changed its meaning in last couple of decades, however it still exists and it is possible to open a numbered account. Until 1992, it was possible for an attorney to open a Swiss bank account on behalf of a client, without revealing the client's identity to the bank. It means that the bank did not know the beneficial owner of the money.
The similar practice continued in Liechtenstein until 1999, and also in Austria and other selected jurisdictions customers were offered the option to open numbered bank accounts. As international pressure and anti-money laundering requirements grew tighter, it is no more possible to open an offshore bank account where the offshore bank does not know the identity of the beneficial owner. However, it is still possible to open a numbered bank account where an account name is substituted by a combination of letters and numbers instead of a real name of the account holder. The most popular offshore jurisdiction for numbered accounts in Spain. Most offshore bank employees have no idea whom numbered accounts belong to. The identity of the account holder is only known to the senior management of the offshore bank.

An account signatory is a trusted person who has signatory rights in business or corporate offshore bank account. An offshore bank account signatory is entitled to execute wire transfers, sign cheques and make other payments from the offshore bank account.
Depending on the rights granted by offshore company directors, an account signatory may either have a single signatory right, or a joint signatory right together with someone else, for example, other account signatory, director of the offshore company or even a person formally not related to the offshore company – a beneficial owner.
Undoubted rule for the work of account signatory is that he/she can act only in accordance with the instructions of the actual owners of the funds, no in his own interests. Account signatory services are normally provided by a professional and could be created by various reasons, for example, as nominee services providing additional privacy or for professional introducer to have some control to ensure that offshore bank account transactions will not involve obviously illegal or suspicious activities.