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Process to open an Offshore Bank Account – step by step!

Procédure d’ouverture de comptes bancaires offshore

Process to open an Offshore Bank Account

Process to open an offshore bank account only slightly differs from opening it in your domestic country. In general as the same it requires the identification of account holders, legal documentation, and bank application signing. For offshore bank account opening there are few more specific matters. Our experience and specialization allows us to arrange bank account opening fast and without visiting. 

Our office will provide you a full support in the account opening from the first step till the bank account is opened. Our assistance and support services are also available even after the bank account opening – we are constantly here to help our clients!

The process to open offshore bank account for individuals and business entities:

The steps of offshore bank account opening is common for all banks, only slight differences are observed for few banks. Therefore we have created a list of steps to open an offshore bank account, for understanding of the proceedings.

Step 1: The file preparation.

To prepare a file for most suitable bank introduction – for both companies and individuals we would require such information:

  • Account holders identity – citizenship and residential country,
  • Purpose of account opening (to propose most adjustable bank),
  • Business activity (for corporate accounts) / Source of funds (for individual accounts),
  • Expected operations with the bank account (if required specific banking services).

Step 2: Introduction to banks.

Once the file is prepared and the purpose of the account is clarified – our expert will suggest most appropriate bank,  considering the proposed banking services, location of the bank and bank requirements/restrictions.

Upon the pre-approval from the bank our expert will start the account opening proceedings.

Step 3: Preparation of legal documents.

The required documentation for account opening  can be divided in several parts:

Personal documents and account holder identification: offshore banks will need to identify and verify all the involved persons for both – personal and business bank account opening. Even if in a company the shareholder or director is legal entity, be ready that the banks will dig till a private person.

The standard identification documents are:

  • Valid passport / ID copy,
  • Utility bill issued no later than 3 months, showing the personal address.

Companies legal documents (only for corporate account): complete set of company’s legal documents, such as registration documents, share certificates, showing the structure and names of director/-s, shareholder/-s, registered office, registered agent/or secretary.

Additionally if the company is older than one year, bank will require a Certificate of Good Standing to clarify if the company is still active.

Bank application forms: our experts will prepare all the bank application forms based on clients provided information. We will do all the needful – client needs only sign the forms.

Note: Bank can request additional documentation based on clients activity.

Process to open an offshore bank account will always be more complex and longer that in your residential country’s banks. As offshore banks accepts companies registered worldwide and the same with account holders, it’s more time consuming to review and check the identification and the legal documents due to the legal difference of each country.

How I will receive my access to e-banking once the bank account is opened?

Once the bank account will be opened, the client will immediately receive a confirmation, where will be enclosed the bank details and instruction how to activate the account.

The e-banking platforms differs for each bank, but in common to all of them the most important part is the secure system of login and payment authorization. For this reason the banks have developed technical devices that generates one time passwords. Access to the bank account will be only for the client – no other third person will have any possibility to access to your bank account.

For better communication and assistance, our clients will have a personal banker.

Open your offshore bank account now – Contact Us!

See also:

Private Bank account opening,

Corporate Bank Account opening,

Intellectual Property protection,

E-Commerce solutions.

 

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