Offshore Bank Licenses

Bank Licenses, Panama FSP,UAE Accounts

How to Open an Offshore Bank Account

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

1. Citizenship and residency of the owners. US citizens can no longer open offshore accounts unless they intend to fully report this to the IRS. We can advise you on the best option for your citizenship.

2. Type of 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. For companies wishes to offer financial services we recommend our Panama FSP the EU Bank account.

3. One of the most important issues is selecting a company formation agent that offers a bank account with your new company. Over 75% 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. For these clients we make a Free recommendation for an offshore corporate account with no name card

4. Services required from 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

5. Banking fees: 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.

6. 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 300 Euro to $1,000,000. 

Here are some examples of deposit AND minimum balance requirements:

  • Cyprus banks from 300 Euro
  • Caribbean banks $500 USD
  • Belize banks $1000-$2000
  • BVI Bank $100,000
  • Latvian banks 5000 Euro
  • Liechtenstein banks $10,000 to $1,000,000
  • Swiss banks $25,000 to $1,000,000
  • 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.

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

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

If you already have an offshore company we can only recommend this offshore bank. Otherwise you will need to contact the agent that formed your company and pay their fees for bank account openings.

Why use our service for offshore banking?

  • Experience: over 14 years of experience forming offshore companies and opening offshore bank accounts
  • SWIFT BIC code: Ability to verify our corporation data on line at INHLSCS1
  • All offshore packages include a corporate bank account: No need to pay extra elsewhere for the offshore account as we include everything you need for the offshore company and account expect for your personal documents.*
  • Free Consultation: Speak to our experts via Skype or email so we can better understand your needs with a free 15 minute consultation. Optional 1 hour consultation available.
  • Custom Offshore Solutions: There is no "one size" fits all offshore solution. We will work with you to find the right solution for your own individual needs and goals.
  • Multiply Payment options: Pay securely via bank transfer