| Looking for an offshore bank account? There | | | | documents they ask for. |
| is no need to use the many middleman websites | | | | |
| you will find via a search engine. Most of | | | | If you want to get an offshore bank account, |
| these are *bogus*, even the slick-looking | | | | *consider visiting the bank in person*. If |
| ones. More and more banks are offering | | | | you can, travel to the country in question, |
| offshore bank accounts direct. Just get a | | | | and open a bank account there. You probably |
| list of banks in the country you're | | | | live near one tax haven at least. This |
| interested in, and go to their web sites. | | | | especially applies if you are planning to |
| | | | deposit large sums; find out who you're |
| Opening an offshore bank account is like | | | | dealing with! |
| opening one in your high street; meet their | | | | |
| criteria, and you're in. The only difference | | | | NOTES: |
| is you're not there in person. | | | | |
| | | | 1. Don't pay a middleman to open a bank |
| The first thing is to find out whether they | | | | account for you. See above. |
| will accept citizens or residents of your | | | | |
| country. For example, Swiss banks tend not to | | | | 2. Do not use services which offer bank |
| want US customers; they don't want the hassle | | | | accounts in Eastern European countries. |
| from the IRS. | | | | |
| | | | You are likely to be cheated, possibly by the |
| You will need to prove your identity, and the | | | | bank itself. Avoid Latvia! |
| legal existence of your company, if you wish | | | | |
| to open an account for it. | | | | 3. Avoid web sites where: |
| | | | |
| If applying by mail, DO NOT PART WITH | | | | The business address is a P.O. Box, or a |
| ORIGINAL DOCUMENTS. Get copies notarised by a | | | | 'Suite'; |
| notary public. Originals can be used for | | | | |
| fraud or identity theft. Or they can get | | | | The site is on a free web host; |
| lost. | | | | |
| | | | The site is badly translated into English; |
| A Notary Public is a public officer | | | | |
| commissioned by the State to perform notarial | | | | You have the sense you are dealing with |
| acts. A Notary is an impartial witness. The | | | | Africans or Eastern Europeans; |
| notary is empowered to issue an apostille. | | | | |
| | | | The site has not been updated recently e.g. |
| Apostille - Is a method of certifying a | | | | the Copyright reads 2001; |
| document for use in another country pursuant | | | | |
| to the 1961 Hague Convention. With this | | | | They've only been running for a few years; |
| certification by apostille, a document is | | | | |
| entitled to recognition in the country of | | | | They offer a range of dubious products - |
| intended use, and no certification or | | | | second passports, citizenships, anonymous |
| legalization by the embassy or consulate of | | | | debit cards; |
| the foreign country where the document is to | | | | |
| be used is required. | | | | You cannot pay via credit card - it's much |
| | | | harder to get refunds on banker's drafts, |
| In practice this means you provide evidence | | | | Western Union and e-Gold etc; |
| to this man that you are who you say you are, | | | | |
| and/or that your company is what you say it | | | | They require you sign a confidentiality |
| is. You take an oath on the Bible. That's | | | | agreement, or you have the sense you are |
| right, it's not a joke. | | | | entering quasi-legal or illegal territory. |
| | | | |
| Due diligence: Banks need to show they have | | | | Bogus offshore banking sites can threaten to |
| checked who their customers are, and how they | | | | report you to your tax authority if you |
| came by their money. | | | | question their methods. It's an old con |
| | | | trick; get the mark involved in something |
| Passport - If you apply by post a notarised | | | | illegal, then he can't go to the authorities. |
| copy is needed; | | | | |
| | | | Offshore bank accounts and company formations |
| Information about yourself - name, date of | | | | are just like their onshore equivalents; |
| birth, address, phone number etc. | | | | there's no big mystery about them. If you |
| | | | want a company formation, contact a local |
| Your economic background - documents showing | | | | registration agent, who speaks English, in |
| how you earn your money (work contract, bank | | | | the country of registration. Then use another |
| statement, tax return, company documents); | | | | local agent to check what the first one's |
| | | | done. |
| Origin of your deposits - documents showing | | | | |
| how you earned them. If you sell a house, | | | | Open your bank account yourself. |
| proof of the sale, a copy of the estate | | | | |
| agent's listing, and so on; | | | | One last thing: *don't think that because |
| | | | your bank account and company are offshore |
| Information about your deposits - how much | | | | you can do business in your home country, and |
| you plan to deposit, and what you plan to do | | | | or with fellow residents, and avoid taxes |
| with the money once you've banked it. | | | | there*. |
| | | | |
| If opening a company account, you send an | | | | You'll find plenty of websites that'll |
| apostilled copy of the certificate of | | | | purport to help you, right up until the time |
| incorporation to the bank providing your | | | | you get a small brown envelope from your |
| account, along with evidence of your | | | | country's tax inspectors, inviting you in for |
| identity, an application form, and any other | | | | a little chat. |