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An offshore bank account is a bank account located in another jurisdiction form the one You personally (or your company) are not a tax resident in, nonetheless, here when we talk about an offshore bank account, we refer to a bank account located in a tax friendly jurisdiction or a tax haven. This can be a country in the Caribbean, the Americas, Asia, Europe, and/or Africa.

An offshore bank account is a must in almost any offshore structures or strategy, except those offshore vehicles used for just holding non-cash assets such as yacht, houses, cars, etc.

What are the benefits of an Offshore Bank Account?

An offshore bank account can help you in any strategy used for international tax planning, asset protection, confidentiality, cross-border transactions, etc.

Who can open an Offshore Bank Account?

Anyone can open an offshore bank account, regardless of the person's income, personal wealth, or nationality, nonetheless, the more income you have, the more access you have to a broader range of options, 

What to take into consideration before opening an offshore bank account

Before opening an offshore bank account, you have to take into consideration your nationality, line of business, reputation of the jurisdiction where the account will be located, your initial deposit capacity, if the account can be opened remotely or not, trustability and reputation of the bank, banks fees such as opening fee, maintenance fee, wire fees, etc.

Will my offshore bank account be reported? or disclosed to my tax authority?

Your account will be reported or disclosed to a foreign tax authority if this account is in a jurisdiction that has the Common Reporting Standards in force with the jurisdictions where you are a tax resident in, and if it falls under the concept of a reportable entity (i.e. Passive Non Financial Entity). To know more about this, check the following link where we talk about the CRS: Click Here to Find Out More

If you are a US person, under a simple structure, your bank account will most likely be disclosed to the Internal Revenue Service under the Foreign Account Tax Compliance Act (FATCA), which practically all offshore jurisdictions have in force.

Offshore Bank Accounts

Offshore Bank Account Opening in Tax Havens

Offshore Bank Account in non CRS countries

Bank Account for Crypto

What is an Offshore Bank Account?

What can we do for you?

Opening an account does not have to be an intimidating process. Our company has stablished commercial relationships and partnerships with banks in all continents in order to provide you with all types of solutions for all types of needs.

 

We guide you throughout the whole bank account opening process, making the process a faster one as proper forms filling and documents gathering will avoid going back and forth with the bank. Even though we have relationships with the banks we will provide you, no account approval is guaranteed as the final word and decision is up to the bank.

Our service includes:

  • Bank Account Recommendation

  • Introduction to banking institution

  • Form filling and guidance

  • Required documents gathering

Offshore Bank Account Options:

Country
Minimum Deposit
Comments
Bahamas
$25,000
$300 yearly maintenance fee.
Barbados
$25,000
$300 yearly maintenance fee
Belize
$1,000
No debit card
Bermuda
$50,000
$3,000 yearly maintenance fee.
British Virgin Islands
$25,000
Credit Card with backed amount
Cayman Islands
$25,000
Cayman Islands and Foreign Companies -No Visit Required
Cayman Islands (Personal)
$1,000
Ties to Cayman Islands is required, like company ownership.
Cook Islands
$20,000
Requirement to obtain investment products or services
Hong Kong
$0
Fintech Bank
Liechtenstein
Great for Crypto Businesses
Puerto Rico
$1,000
Not part of the CRS
Singapore (Option 1)
$1,000
For Companies Formed in Singapore | Traditional Bank
Singapore (Option 2)
$0
Good option for Crypto businesses | Fintech Bank
Switzerland (Option 1)
$10,000 (CHF/USD/EUR)
Not for shell companies.
Switzerland (Personal)
$5,000 (CHF/USD/EUR)
Turks and Caicos
$25,000
$300 yearly maintenance fee.
USA (Option 1)
$0
For US Companies with US Client | Comes with debit card
USA (Option 2)
$0
No US Clients Required | Does not come with debit card
United Kingdom
$0
Vanuatu (Business)
$1,500
$3,000 yearly maintenance fee.

The list below shows some of the banks we work with and have a relationship or partnership with, we try to keep this list updated as possible, but it the list is not exhaustive. We also work with banks not on the list, and in jurisdictions not in the list. 

Contact us to get more details