Offshore Bank Account Opening Procedures
Opening an offshore bank account via distance banking is slightly more cumbersome when compared to opening a domestic bank account, considering one actually walks into a branch when opening a domestic bank account. As one of the oldest professional offshore banking service providers & incorporation agents on the web, Offshore Secrets Network has relationships with major offshore banks around the globe, and stand ready to assist you every step of the way during the account opening process.
Generally speaking the procedure to open an offshore bank account consists of properly preparing and submitting the following documents:
- Notarized copy of the Certificate of Incorporation and/or Articles of Association (for corporate accounts)
- Certified copy of your government issued passport (for both personal and/or corporate accounts)
- Original Utility Bill (for both personal and/or corporate accounts)
- Bank or professional reference for the account signatory (for both personal and/or corporate accounts)
- Completed banking applications and forms which we provide and assist in completing
What kind of minimum deposit is required when opening an offshore account?
We deal with a variety of banks around the globe, and as each caters to different clientele, each has their own specific requirements. We deal with some that require no more than $ 1,000 initial deposit to open an account, while others may require a minimum of $1,000,000.
What kind of interest will I earn on my money in an offshore account?
Interest rates paid on deposits also vary greatly depending on the amount placed on deposit, as well as on the term of the deposit, currency of the deposit, etc. The most important thing to keep in mind is offshore banks, generally speaking are more stable and financially sound than their onshore counterparts. The main reason for this is most do not engage in lending rather wealth management. As such the exposure to the credit crisis has virtually been avoided completely.
How are deposits made to my account?
It is very simple to make deposits to an offshore personal or corporate account. In fact there are a variety of options ( depending on the bank)
- You can simple write a check to yourself or your IBC name
- You can wire transfer funds directly to the account
- If you are traveling to the location of the bank, you may simply deposit cash.
PLEASE NOTE: Offshore Secrets Network S.A. NEVER, under any circumstances, accept deposits on behalf of clients. Funds are ALWAYS sent directly to your account at the bank. Further, all secret pins, codewords and passwords are ALWAYS mailed directly to the client.
How may I access my money – is Internet banking available?
Almost all of the offshore banks we work with and represent offer full Internet banking including the ability to send wires via Internet Banking, most also offer a variety of card services including but not limited to offshore credit, and debit cards allowing for easy access to your funds from virtually anywhere in the world.
Fees – is it expensive to bank offshore?
Generally speaking the fees involved in Offshore Banking are competitive with their onshore counterparts. That being said, Offshore banks may have slightly higher fees for certain transactions when compared to their onshore counterparts. However when one considers the lack of taxation being withheld by the bank as well as the protection of privacy enjoyed via offshore banking coupled with the more aggressive interest rates paid on deposits the nominal difference vanishes.
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We accept Bank Wire Transfers, Western Union Transfers, Moneygram Transfers, Cash, Checks, Money Orders, and Bank Drafts for payment of our services.
Questions? Contact us .