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Offshore Banking Accounts Offshore Banking Accounts


   

Offshore banking accounts offer the same services that most onshore banks have. In fact many of the larger onshore banks have an offshore banking presence.

Your offshore banking accounts should not be opened in the countries where you have set up your offshore incorporation, reside or where you transact business. All tax havens have strict privacy and confidentiality laws, making it a crime to reveal bank information. Accounts may be opened in various currencies and most tax haven banks can provide credit cards. You can open personal or corporate accounts (though we recommend a corporate account to retain privacy).

Before choosing a bank for your offshore corporation, determine the services you need: forex, letters of credit, offshore investing, time deposits, which currencies are accounts available in, checking, internet banking, credit cards, etc… Make sure that the offshore bank you choose can provide the services you want before opening an account.

To open your account, most banks require the following documents:

For personal Offshore Banking Accounts:

- Bank application form

- Signature card

- Notarized copy of passport with applicants original signature or other acceptable identification

- Original bank reference for each signatory of the account

(Sample Offshore Banking Reference Letter)

- Proof of address for each signatory (billings from credit card or utilities etc…)

Bank application form and signature may be depending on the bank, be signed in front of a notary or an officer from a branch of same bank or a bank officer from another bank.

For Corporate Offshore Banking Accounts include the original or notarized certified copies of:

- Memorandum and Articles of Association

- Certificate of Incorporation

- Board resolution to open account

This information will allow you to obtain your Offshore Banking Accounts quickly.

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