How to Start an Offshore Bank Account?

How to Start an Offshore Bank Account?

Are you holding an offshore business structure?

Looking forward to protecting the assets and generate more wealth for your future generation?

If yes, then here’s the solution.

Open an offshore bank account!

Starting up a bank account in a foreign jurisdiction offers the account holders a variety of advantages.

The idea of establishing an offshore firm has steadily evolved among foreign investors and wealthy individuals. The popular offshore locations, like onshore jurisdictions, also demand the existence of an offshore company bank account.

It turns out to be feasible according to the set criteria if the business owner opts along with the incorporation process for the offshore banking operation. Opening a bank account in an offshore location provides business professionals with many privileges.

What is an Offshore Bank Account?

An offshore bank account can be defined only as: “a bank account held by a person or company in a jurisdiction that is not usually a resident of.”

Licensed offshore banks are limited to accepting deposits and lending money to outlets outside the country where they are physically situated.

What are the Documents Required to Open an Offshore Bank Account?

The documents required to open an offshore bank account include:

  • A duly filled application bank account form
  • Passport-size photo of the shareholders and directors
  • Identity proof of the shareholders and directors
  • Address proof of the shareholders and directors
  • Utility bill
  • Certificate of incorporation
  • Letter of reference for bank
  • Professional reference
  • Concrete proof of profits


Before opening an offshore bank account, it will be beneficial to you if you have a clear view of the offshore bank account.

Why Start an Offshore Bank Account?

The core benefits of an offshore bank account are:

·Secure and Protect Your Capital

  • As a business owner or investor, you can eventually travel to several locations.
  • The ability to hold the bank account in one location is a significant advantage.
  • Asset protection is guaranteed
  • Ease of Fund Access
  • Highly personalized service
  • Numerous services such as online transfer, ATM, or even telephone banking are available.
  • Appointment of a relationship manager to attend to your needs
  • Save Tax on Deposits
  • Opportunities for Foreign Investment
  • Diversified Currency
  • Availability of Foreign Exchange Facilities

Factors to be Considered Before Opening an Offshore Bank Account

Few factors that are to be kept in mind before opening an offshore bank account include:

  • ·Minimum requisite deposit
  • ·Legality process
  • ·Remote Banking Option
  • ·Tax and Interest Rates
  • ·Privacy and Safety

Are you wondering how to start an offshore bank account? Well, the process is just below.

How to Open an Offshore Bank Account?

The procedure of setting up an offshore bank account involves the below four steps -

  • Pick from the list of banks at various Offshore locations your preferred bank.
  • Provide us with your necessary details and supporting documents which the selecBankbank requires.
  • Complete the necessary verification procedures for Know-your-Client (KYC) and bank.
  • The bank account is ready for external use, together with other facilities chosen after successful bank notification.

Documents Required to Open a Bank Account in Offshore Jurisdiction

Documents required for a Corporate Offshore Bank Account

  • Passport copy
  • Utility bill copy
  • Reference letterBankbank
  • Professional reference

Notarized set of company documents include

  • Memorandum of Association
  • Articles of Association
  • Incorporation Certificate
  • Register of Director
  • Register of Members/ Shareholders
  • Company structure outline
  • Complete company plan

Documents needed for a Personal Offshore Bank Account

  • Passport copy
  • Utility bill
  • Letter of reference for bank
  • Professional reference
  • Concrete proof of profits

One of the successful decisions an investor can make is to move ahead with the offshore banking choices.

Before continuing with the banking process, setting up an offshore company must be completed in a trouble-free manner.

To run the process smoothly, most business investors prefer to go ahead with professional experts who have in-depth knowledge of business incorporation. Find out more about the core reasons for hiring a business consultant offshore.

Business Setup Worldwide is one of the leading consultants to help numerous clients establish their business roots globally. Our business experts have industry experience, which gives them the flexibility to provide tailor-made solutions and helps you set up your offshore business in a trouble-free way. In case you hold any doubt, feel free to have a word with our experts. Contact us today-we’d be glad to assist.


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