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