How to Open an Offshore Bank Account

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hen considering the opening of an offshore bank account there are several items to consider.

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You’ve to carefully examine your Citizenship and Residence cause the eventuals various multilateral or bilateral agreements signed by your home country may allow for tax exchange information.

DTA

TIEA

MLAT

These above are some of the most used treaties that allow exchange of information. This include also bank reports.

Even bank secret law can be broken cause international treaty “overrides” internal law.

 US citizens must accept to comply with FACTA.

Eu citizen may want to avoid european banking due to EU Savings directive.

We can advise you on the best option for your citizenship.

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[unordered_list_item style=’element_number’ title=’ Type of business you intend to operate’ number=’2′ number_color=” icon=” icon_color=”]

The business you intend to operate through the offshore account as offshore banks do not accept  illegal businesses, adult, gambling (without a license), online pharmacies (without license in the jurisdiction of the bank and financial services or currency exchangers with out a license.

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[unordered_list_item style=’element_number’ title=’ Company AND bank account’ number=’3′ number_color=” icon=” icon_color=”]

One of the most important issues is selecting a business service provider that offers a bank account with your new company. Over 80% of the formation companies do NOT offer bank accounts and leave it up to the clients to try and find an offshore account on their own. We take care and cover all the aspects.

READ MORE....  Liechtenstein and the end of banking secrecy
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The offshore account as not all banks have fully featured services such as trading or no name debit cards which is very important if you wish to maintain the secrecy of your our offshore account. 95% of the offshore banks do NOT offer a no name card. We know who does and what to do if your bank does not offer a no name card.

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With far fewer offshore banking options fees vary a great deal. Cyprus banks generally offshore the lowest fees of any offshore bank with free SEPA Euro transfers and free incoming wires. The Caribbean banks typically charge the highest fees.

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The amount of deposit you can make to open the new account is a very important consideration. We have banks that have deposit requirements from 0 Euro to $1,000,000.

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Here are some examples of  minimum deposit  requirements:

  • Cyprus banks from 300€
  • Seychelles bank 1.000-5.000$
  • Caribbean banks 500$
  • Belize banks 1000-2000$
  • BVI Bank $00,000$
  • Latvian banks 500 Euro$
  • Liechtenstein banks 5.000$
  • Liechtenstein private banks 50.000-100.000$
  • Swiss on-line banks 0$
  • Swiss private banks $5000-100.000$
  • Swiss high net worth banking  $1M
  • Principality of Monaco banks 50.000$-1M
  • Singapore banks $10,000 to $75,000
  • Dubai banks $10,000 – $250,000

The actual process to open an offshore bank account is realtively easy and we can help you through it all. The process starts with:

1. Form your offshore company and obtain the correct corporation documents for the bank. If you purchase one of our packages we always include the required corporation documents.

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2. Complete and sign the bank account opening forms – not sure answer? If we formed your company we can help. Just ask.

3. Attach the required personal identification documents which vary from bank to bank such as a certified passport copy, original proof of residential address in your name less than 60 days old, in some cases a bank reference letter (we can send you an example) or personal bank statements.

4. Return all the documents via COURIER to the offshore bank

5. Read the FAQ’S

There are a great number of considerations when selecting a formation agent and offshore bank account. We encourage you to contact us to discuss your needs prior to forming the corporation and or opening the bank account and we can advise the best option for you.

 

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