Answer
Offshore banking and family offices are both wealth structuring tools, but they serve distinct purposes. Offshore banking refers to holding funds in a bank outside one’s home country, usually for diversification, currency advantages, or tax optimization.
Family offices, however, are more comprehensive. They manage a family's entire wealth portfolio—including investments, trusts, tax, legal affairs, and succession planning. While offshore banks offer financial services, family offices provide strategic financial governance. High-net-worth individuals often use both: offshore banks for liquidity, and family offices for long-term legacy planning.