Offshore Bank Account Opening and Bank Secrecy

In this post we will discuss offshore bank secrecy and how to open an offshore corporate account

Is it easy to open an offshore bank account?

Opening an offshore corporate bank account is not as simple as it used to be said 10 years ago.

• Firstly because most reputable banks have a “know your clients” due diligence process which make bank account opening process more difficult than before.

• Secondly because the offer of offshore banks have multiplied to a point where it is difficult for the neophyte to distinguish good banks from bad banks and this is why we are here to assist you.

Truth is that

• Offshore banks selling point is absolute privacy and protection against creditors or foreign government’s claims and actions.

• Very few jurisdictions nowadays can offer absolute privacy and asset protection.

Is Bank Secrecy and Privacy the most important criteria when opening an offshore bank account?

If you start an offshore company to do import export or consultancy services or to receive your expatriate salary what you will not need absolute privacy or assets protection offered by a few jurisdictions.

No what you will need instead is a bank which is able to offer you the whole range of commercial services, which charge reasonable transactions fees, in a country that has no exchange control and a good bank secrecy. You also need a bank which you can trust which is why my preference go to big commercial bank over small offshore banks even if a few of them are very reputable.

Bank Secrecy Comparative Table

A network called the Tax Justice Network has be kind enough to do a comparative study of all the banking jurisdiction and to rate their bank secrecy on a scale of 1 to 100.

All banking jurisdiction we offer to you that is to say Andorra Barbados, Bulgaria, Cyprus, Dubai, Hong Kong, St Vincent, Seychelles, Switzerland scored between 73 to 88  (but for Cyprus 58) which are among the best results in terms of bank secrecy

For more information about our banking solutions please read our posts about offshore account opening at distance in the following countries

 

Location	Bank	Information
Andorra	BPA Bank	Click Here for more information
Barbados	Scotia Bank	Click Here for more information
Bulgaria	Various	Click Here for more information
Cyprus	Bank of Piraeus	Click Here for more information
Dubai	Barclays Bank	Click Here for more information
Hong Kong	HSBC	Click Here for more information
Seychelles	Barclays Bank	Click Here for more information
St Vincent & Grenadines	LB Bank	Click Here for more information
Switzerland	Various	Click Here for more information

 

Why do we choose UK as bank jurisdiction if it only scores 45 on the bank secrecy scale?

Simply because London is the world banking hub and that 40% of world finance transactions are done there so it was impossible not to have a English bank on offer.

Offshore Premium Preferred Jurisdiction

As to my preferred jurisdiction it will be Hong Kong, another financial hub and as to the bank HSBC the most reputable commercial bank there is nowadays. Of course it may not be suitable for every purpose because at the end of the day the bank and the jurisdiction of choice ultimately always depend from the client needs.

CLICK HERE to see our Package”+” Company + Offshore Bank Account

If you have any question as to the  best offshore bank jurisdiction for you do not hesitate to contact us

 

Originally posted 2011-12-16 13:43:25. Republished by Blog Post Promoter