Offshore IBC

I recently read about Paypal and people using accounts from Caymen, Bahamas etc.

Wondering if anyone here using something like this ? For asset protection. I believe one do not have to report their trades if it's an offshore account.

Looks very risky to me, but just curious. Thanks.

 

Use the search feature, there has been quite a bit written on this already.

 

Thanks Dandxq