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Bank account for an offshore company 2021

How to open a bank account for an offshore company

2021-01-06
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Opening a bank account for an offshore company is relevant, as it guarantees the complete safety of assets. It is possible to register an account both for a natural person and a legal entity. To learn more about the nuances of registration, contact our experts at IT-OFFSHORE.

Nuances of opening an account

Anyone who meets banking requirements can open a bank account for an offshore company in 2021. Banks may choose which companies they can cooperate with and which they can refuse. When registering you need to consider the specialization of the bank.

Advantages of opening an account in offshore:

  • Minimal taxation;
  • Opportunity to choose a reputable jurisdiction;
  • Great choice of financial products.

When choosing a bank it is desirable to consider its reputation, the timeframe of existence and specifics of work, duration of account registration, privacy and bank secrecy.

BANK OF CYPRUS

The advantages of opening an account with the Bank of Cyprus are the scarce number of requirements for minimum balance and the ability to work with more than 30 currencies. It is possible to use internet banking, and the accounts can be registered without a visit to the jurisdiction.

The structure operates under the EU rules, in this regard, additional information about the applicant may be required. Corporate applicants need to prepare incorporation documents and questionnaire, as well as information about the directors.

HERMES BANK

The bank specializes primarily in working with non-residents. This company has a Class A license. A high level of confidentiality of clients and transactions is ensured.

It is possible to open an account with Hermes Bank in euro or dollars, pounds, and yuan. It requires the provision of the memorandum of association, articles of association, registration data, and information about the directors. Time required for opening an account is about 3-4 weeks.

STATE BANK OF MAURITIUS

State Bank of Mauritius offers a wide range of services for individuals and legal entities with the establishment of cooperation programs with non-residents. Duration of account opening could be about a month. It is required to prepare documentation and send it to the bank. No personal visit is required.

Completed application form and certificate of account opening, documents of establishment, data on beneficiaries, confirmation of shareholders and directors addresses, information on authorized capital organizations should be provided.

MAURITIUS COMMERCIAL BANK

Registration of account in Mauritius Commercial Bank allows avoiding double taxation and currency control. Bank secrecy is ensured. Non-residents are serviced quickly enough. There are practically no conditions regarding minimum balance.

In order to work with a financial organization, the required documentation package must be gathered and sent to the main office. The application processing time is about 10 days.

BANK OF VALETTA

High level of confidentiality is ensured. You may open an account at Bank of Valletta 2021 within one week. To work with the bank a personal visit and recommendation are both required. The minimum balance amount is 1000 euros.

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