Offshore accounts. Where can I open an offshore account
An offshore account is used to accumulate and save money, as well as conduct any banking operations without the risk of losing capital, audits by tax or other authorities, and disseminate information about the financial situation of the client. This explains their popularity among the most influential and wealthy individuals, as well as international companies.
How to open an offshore account abroad?
First of all, you need to decide on the jurisdiction in which it is more convenient to open an offshore account. It should also be taken into account that offshore jurisdictions each have their own internal business laws, different taxes and conditions, which is important when determining the country for opening an account, it all depends on the specific tasks of the company and for which offshore business it is required to open a specific account. Offshore accounts in different jurisdictions have some differences, and FBS experts will help you choose the most suitable jurisdictions for your purposes.
In which bank I can open offshore accounts?
After choosing a jurisdiction, you need to choose a suitable bank. At the moment, the most popular banks for the placement of funds by foreigners are located in the following classic offshore countries:
- British Virgin Islands (First Caribbean International Bank, Scotia Bank, VP Bank (BVI) Limited, etc.);
- Cyprus (Bank of Cyprus, Piraeus Bank, Hellenic Bank, etc.);
- Panama (Multibank, Balboa Bank & Trust);
- Liechtenstein (Valartis Bank (Liechtenstein) AG);
- Africa (Mauritius, Seychelles);
- Other countries
A lot depends on the chosen bank: the terms of registration, the cost of the service, the list of required documents, the ability to use funds in other countries, the amount of the minimum balance.
How to open an offshore account for an individual
To open an offshore bank account, a private person needs a standard package of documents:
- identity card (foreign and internal passport);
- a completed questionnaire describing the purpose of opening an offshore account, planned operations and annual turnover;
- documents confirming the source of funds;
- your contact details.
This list may expand depending on the bank and its location. Of course, all documents in Russian must have a notarized translation into the language of the country in which the account is opened.
Opening an account in an offshore bank for a legal entity
To open an offshore account, you will need the following documents:
- founding documents;
- company charter;
- information about the managers and owners of the company;
- confirmation of the source of funds.
Opening an offshore account is a service required for individuals and companies. We will help you choose the right jurisdiction and open an offshore account in a stable, reliable bank.
