Offshore Banking Guide
For all intents and purposed this article called Offshore Banking Guide is merely a tool to be provide unbiased information on how best to choose the right product of offshore banking for an individual or a company.
The best offshore banks have a few things in common:
1. Solid Reputations 2. Financial Good-standing 3. Strong legislation supporting, privacy, secrecy and confidentially laws - Full suite of banking products, provided in a professional and efficient manner.
When choosing an offshore banking facility there are key fundamental factors to consider:
And beware of:
The function of the offshore account should determine the best type of account suited, if for savings preserving saving, or to conduct international business, or for both.
The most difficult point in the process of establishing an offshore banks account is getting the bank to accept your application, and where in some countries the account can be set up in person, offshore banks are normally located in remote locations and the probability of getting the location may be slim, and here is where offshore service provider factors in. In most cases the process of establishing an offshore account personal or corporate is best done through an offshore service provider in the jurisdiction. This is an advantage as in many cases the offshore service provider has an established relationship with specific banks in which the application may be given more consideration or confidence. Lastly, it is often more easy to set up an offshore account as an individual, but your name will be on the account, if total anonymity is requested the use of other offshore vehicle such as an offshore international company (IBC)or an offshore trust would work very well in concealing the account holder, since the account will be held in the name of a company, but the account administrators have full control of the account and its affairs, without revealing the name of the beneficial owners of the company. This type of setup is synonymous with modern day anonymous banking.