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Offshore Banking

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Companies and individuals decide to move to offshore jurisdictions in order to get better protection, benefit from offshore banking privacy, enjoy the tax-free economic environment and to reduce risks and costs. For instance, an owner of an offshore company gets the opportunity to invest in global securities including top performing funds not available to citizens of the country where the investor resides. For example, U.S. persons are restricted, not by law, but by virtually all of the worlds top performing offshore mutual funds, from participating in their collective investment. In developing countries, where the financial markets are underdeveloped there are few investment opportunities; therefore it is natural that these investors seek opportunities elsewhere.

Offshore banking account owners get access to the full set of banking products that may not be available in their countries and may not appear there for several decades. Another valuable benefit that offshore banking brings is privacy, which is often an integral part of risk planning. Investors often seek anonymity, while offshore banking typically means greater confidentiality in business strategies.

Asset protection is also an important consideration. Offshore banking centers and tax havens usually have highly reputable and trustful financial sectors which have decades of successful operation behind them. Therefore assets held offshore are secure and essentially immune from seizure and hostile litigation.

Taxation issues are one of the most important things that investors take into consideration, when moving offshore. Offshore companies are generally tax-exempt in their resident country and offshore banking operations are also taxed with zero rate. Offshore banking centers and tax havens generally have highly liberalized economies with minimum bureaucracy and low regulatory burden. This allows offshore companies to be highly flexible and perfectly meet demands that investors have.

To sum up the advantages of going offshore, it can be noted that the most important factors are low tax burden, which is so uncommon in developed countries, anonymity, which is highly demanded nowadays, secure and safe economic and political environments, which may be in question in underdeveloped countries, and a liberal economy that brings extended flexibility for investors.

We regularly review the best offshore banking opportunities for business or investment purposes in the market place and recommend those which we believe to be best suited to meet your identified needs. At present, we offer offshore bank accounts from St.Vincent, Antigua, British Virgin Islands and Dominica, which are four nations in the Caribbean.

We also represent a well established Cyprus bank, a major UK bank in Isle of Man (temporary unavaliable) and banks in Austria and Livta andLatvia. All of these banks compliment the offshore jurisdictions which we recommend for your offshore company incorporation and company trading account, business account or investment account. They all meet the very high standards of confidentiality and security, which are fundamental elements in choosing your offshore location.

All of the above mentioned banks offer offshore debit cards. All offshore accounts can be opened by courier post and it is not necessary to pay a personal visit to the location.

List of documents required to open bank account for offshore company:

  • Verification of a permanent address (a recent electricity bill or other utility bill) for each signatory, director*, shareholder*;
  • The bank application form completed and signed;
  • A certified copy of the Certificate of Incorporation (we will provide this);
  • A certified copy of the Memorandum and Articles of Association (we will provide this);
  • Identification; a certified copy of passport for each signatory, director*, shareholder*. Some banks may accept certified copy of the national Photo ID (ex. driver license or National Identity Card);
  • A bank reference for all signatories, directors and shareholders *;
  • A board resolution which appoints the authorized signatories (we prepare it).

Banks for which we are an agent or represent will not open accounts for offshore companies involved in the following types of business:

  1. Businesses that offer alternative payment systems, e.g. E-Gold, e-cash etc.
  2. Businesses which should be licensed according to international standards, but are not, such as:
    • Broker Dealers
    • Mutual and Hedge Funds
    • Trusts
    • Security Exchanges
    • Insurance companies and brokers
    • Banks
    • Online casinos
  3. Businesses which intend to raise funds or capital from the public, sell unregistered securities or MLM Programs.
  4. Companies whose business is :
    • Adult content Websites
    • Selling fake diplomas
    • Churches and charities.
Обновлено ( 11.04.2010 23:55 )  






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