Simple Pointers On Seeking Offshore Banking Accounts
Here are some tips on assessing legitimate offshore banking accounts:
- Private foreign a/cs are usually for high-net-worth individuals; you should have at least $100,000 to deposit. Then you will be welcomed with open arms, after the necessary due-diligence has been carried out.
- Corporate non-resident bank account: The following may need to be notarized. You get these after your foreign company registration): Board Resolution; Copy of the company’s Certificate of Incorporation; Certificate of Good Standing (if the company is more than one year old); Subscribers Resignation; Copy of Bye-Laws and Articles of Incorporation; Copy of the Resolution for Appointment of Directors.
- Non-resident bank accounts are the same as your local bank account; just in a different country.
- Participating in international commerce is even easier now because of the internet. Many businessmen have signed up for overseas a/cs in order to manage their funds, protect their privacy, increase financial security and the tax haven benefit a foreign account can give.
- So what are the advantages of having an offshore bank account? The obvious one is tax minimisation; doing business where tax is legally not payable. Another is privacy. Most overseas locations have laws in place which guarantee your financial privacy.
- My advice to you is to avoid non-resident bank account web sites which are light on info, especially about who, exactly, is offering the service. Who owns the site? Where is it based? Just who, exactly, are you dealing with?
- Because credit cards provide easy access to foreign funds and a/cs in tax haven countries, this situation allows income to be hidden. Although is not illegal to have a foreign credit card, the average person does not need one setting a reasonable basis for believing that some individuals utilise foreign credit-cards to evade paying US taxes.
I hope these few simple tips will assist you in assessing good quality offshore banking accounts.
About the author: Niccolo Svengali is an author for offshore accounts and credit card consolidation internet sites in London, Great Britain.
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