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Opening an Offshore Bank Account

Update On, June 20, 2019
Opening an Offshore Bank Account

Why do we recommend you to open an Offshore Bank Account?

Offshore bank account generally, has the higher financial privacy. The same financial advantages are provided for Japanese, US, Europe citizens in their business stuff. Another reason that many people are interested to open offshore bank account is to protect their money against such issues as divorce, lawsuits and legal cases. To guarantee maximal privacy and safety, offshore accounts are opened to the credit of other companies abroad and one advantage is that such accounts are not exclusive to the rich. Today, the amounts of people who are investing their money in such private financial accounts are increasing dramatically. The present passage aims to raise readers awareness of the privileges of this account.

How is the confidentiality of an offshore bank account nowadays?

The idea of offshore banking is to get an account with high privacy and confidentiality. Most banks are trying to keep their investors information such as transactions and personal information secure against casual probe or prying eyes. However, an agreement was signed on October 29th, 2014 by 51 countries in which participating tax authorities are enable to exchange the information of accounts and account holders. This is a first automatic global exchange of financial information. Many European countries as well as offshore jurisdictions are involved in this agreement. It is estimated that up until the end of 2018 more than 101 countries will participate for this international agreement.

Still, automatic exchange of information is not taking place in more than 100 jurisdictions. Though this automated system is not yet available, this by no means implies there is no information transfer happening at all. There are ways open to do this exchange. It can be done whenever demanded or even suddenly and unplanned.

As mentioned before, there are still many countries that are not participating in automatic exchange of information.The aim of these jurisdictions is to maximize the confidentiality of any offshore bank account as much as possible. They are trying to provide a high level of confidentiality for their investors to protect them against domestic litigation and civil matters. It does not benefit a bank to reveal its customers information unless unwillingly forced. They usually give hard tests to the requesting governmental agency.

Indeed, there is a well-known way to avoid such a problem. Many people incorporate an offshore company with nominee, which help them to hide their own personal information from authorities. This is a legal and known practice in many jurisdictions so far.

More on Offshore Banking accounts:

There are many popular offshore jurisdictions located in various parts of the world that offer offshore bank account. It is very important to have an offshore company with an offshore bank account in secure and safe jurisdictions. It is not always mandatory to have bank account in the same country of your company origin. It is advised to have offshore bank account in different country of your company. It is possible to own a company in Belize and a bank account in Switzerland, or else. For example, Jurisdictions like Belize, BVI and Nevis provide a high level of privacy and confidentiality in their company structures. While other jurisdictions might have better offer in their banking systems.

The best information on Offshore services, monetary privacy schemes and property protection plans is provided to those interested from all over the world at oobac.com which has begun its work in 2005. Anyone who might be a client in near future is advised to seek help from reliable offshore services instructor through the forms presented in this page.

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