"Where do you pay your tax?" This could be one of the most important questions that a banker will ask you when opening an offshore bank account and all because of one regulation: the Common Reporting Standard (CRS).
CRS has been created in order to facilitate automatic information sharing about foreign financial accounts between more than a hundred member countries.
However, there are still some countries that are not applying CRS and they indeed are good choices for offshore banking, e.g. Georgia, Armenia, Serbia, Cambodia, Paraguay, and even the United States.