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Offshore Bank Accounts

Offshore Bank Account Opening in Tax Havens

Offshore Bank Account in non CRS countries

Bank Account for Crypto

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What is an Offshore Bank Account?

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.

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

Banking options

Offshore Bank Account Options:

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

Offshore Company Bermuda

Open an Offshore Bank Account in Bermuda

Minimum Initial Deposit: USD50,000 or its equivalent.

Yearly maintenance fee: $3,000 per annum, minimum.

Currencies: Multicurrency accounts, including USD.

Cards: Credit card secured via 110% cash deposit

Remote Opening: Yes, but Zoom calls are required

Countries allowed: Companies formed in Bermuda, and offshore companies on a case-by-case basis.

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Global Multicurrency Accounts

Allowed jurisdictions: USA, Cayman Islands, HK, BVI, Seychelles, EU, Singapore, UK, and more.

Global account in the following currencies and locations: USD (USA), SGD (Singapore), AUD (Australia), CAD (Canada), EUR (Europe), GBP (UK), JPY (Japan), Hong Kong (EUR, USD, HKD, CNY), NZD (New Zealand)

Physical and virtual card: yes. Crypto: allowed.

Minimum initial deposit and opening fee: US$0

USA

United States of America

Cards: available. FDIC: secured up to US$5,000,000

 

US Companies: Minimum Initial Deposit: 0; Eligibility: to have US operations or clients.

 

Offshore companies: Cayman Islands, BVI, UAE.

Minimum Initial deposit: US$0; Company type: VC's, ecommerce companies, and startups, with international operations.

Saint Lucia Offshore Bank

Open an Offshore Bank Account in Saint Lucia

Minimum Initial Deposit: USD 5,000

Account Opening Fee: USD350

Multi-currency accounts in: USD, CAD, CHF, EUR, GBP, AUD, AED, HKD, JPY, NZD, NOK, ZAR, SEK and THB.

Remote opening: yes.

European Account

EU based Euro Account and GBP in the UK

Business current account: Euro and GBP

Payments: SEPA, SEPA instant, Chaps, FPS.

Card: Mastercard.

Crypto transactions: allowed, but proof of source is required.

Application review fee by the bank: €1,000 (estimated 95% approval rate).

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Open an Offshore Bank Account in Belize

Minimum Initial Deposit and balance: USD4,000

Opening Fee: 0

Maintenance fee: 30 USD per month. USD25 extra per month if the balance falls below the minimum.

Currencies: USD. Cards: Not available

Remote Opening: Yes.

Countries allowed: Offshore companies (Non-residents), and Belizean entities.

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Offshore Bank Account in Belize | Option 2

Minimum Initial Deposit: USD1,000.

Set up fee: US$100.

Available currencies: USD, CAD, GBP, CHF, EURO

Maintenance fee: US$14.50/month

Remote Opening: Available.

Offshore Bank Vanautu

Open an Offshore Bank Account in Vanuatu

Minimum Initial Deposit €1,000; Opening Fee: €500

Maintenance fee €250/month

Currencies: USD, EUR.; Cards: Not available.

Remote Opening: yes, no visit is required.

Countries allowed. Offshore entities, except those formed in Afghanistan, DPRK, Iran, Iraq, Nigeria, Pakistan, Sudan, South Sudan, Myanmar, Syria, Yemen, Belarus and Russia.

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Open an Offshore Bank Account in the Cook Islands

Minimum Initial Deposit: USD20,000.00

Making an investment is required: Trade stocks, bonds, ETF’s and mutual funds, purchase fully allocated gold and silver, or bond.

Cards allowed: yes

Remote Opening: allowed.

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Singapore | Option A

Singapore entities:
No minimum initial deposit or setup fee.​ Opening time: 2 weeks

Offshore companies 

Jurisdictions allowed: Hong Kong, Cayman, Seychelles, BVI. Minimum initial deposit: US$100,000. US$1,000 set up fee. Opening time: 3 weeks.

Crypto: Allows crypto conversion by receiving USDC and then converting it to USD.

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Singapore | Option B

Currencies: USD and/or SGD. Cards: available.

Businesses formed in Singapore with foreign owners:

Initial minimum deposit: US$50,000 to activate. Minimum Balance: US$5,000.

Offshore Companies: BVI or Cayman Islands

US$1,499 set up fee; US$199 monthly maintenance fee; Minimum Initial Deposit: US$100,000; Minimum Balance: US$50,000.

Crypto transactions: allowed.

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Open an Offshore Bank Account in Switzerland

Minimum Initial Deposit: USD/EUR/CHF 10,000.00

Eligibility: company should have a substantial business and offices/UBO in the place of registration, including internal/external audit and financial statements. Shell companies are not eligible.

Offshore Banks

Offshore Bank Account in Antigua, The Bahamas, Barbados, British Virgin Islands, Cayman Islands, Curaçao, Grenada, Jamaica, St. Kitts & Nevis, St. Lucia, St. Maarten, Trinidad & Tobago

Minimum Initial Deposit: USD25,000.00

Eligibility: offshore entities. Remote Opening: yes.

Cards: allowed via credit card, secured with 110% deposit.

Opening Fee by the bank: USD500.

The bank has branches in all these jurisdictions above.

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