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Offshore Banking – What You Need To Know

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Notice* If you are considering opening an offshore bank account, please read this information first.

Offshore companies are a legal, sensible way for individuals and business owners to pay less tax. An offshore company can be used to help provide for your family, avoid inheritance tax, capital gains tax and much more.

Avoid Online Resale Agents

Many offshore service providers that are found online are simply resale agents who offer offshore companies coupled with offshore bank accounts at a cheap price to attract new clients. What these agents do not tell you is that after you’ve purchased an offshore company there is a long, complex list of other steps that need to be taken before you can begin trading and open and operate your corporate bank account.

We are approached by people every day who have purchased an offshore company elsewhere only to find they are not able to open a bank account. In any industry, including offshore finance, there are good, reputable banks and there are poor ones. There are websites online that pose as banks yet are not, and yet can look extremely inviting and professional.

Use Recognized International Banks

However, there are international banks who specifically cater for genuine offshore clients whether corporate or personal, and these banks are established, profitable and secure institutions that provide a professional service to their clients on an international basis and in a multitude of languages. These are the banks that we deal with. There is nothing illegal in having an offshore bank account.

Before you go ahead please take a look at some of our bullet points on some of the main aspects involved:

  • Offshore companies and offshore bank accounts are perfectly legal. In fact some of our politicians own and operate offshore bank accounts.
  • You might want to think about having your company documents certified by a notary in the country of its incorporation.
  • In order for your company documents to be accepted in any of our offshore banks they will be required to be sent for the apostile. This is an international recognition that the documents certified are genuine and a process we can manage for you.
  • If the above has been done then there is no need to travel to open a bank account, it can done electronically.
  • You may need to take tax advice from a experienced professional. Some accountants are not familiar with the complexities of offshore companies.
  • Never buy an offshore company ‘off the shelf’. You do not know what skeletons it has in its closet.
  • Remember that some jurisdictions require you to visit the bank in person.
  • Think twice about how you want to structure your new company before incorporating it. For example, making use of nominee directors as well as nominee shareholders can add a further layer of protection and privacy to your entity. If you are a director or indeed a shareholder of a company and plan to take an income from it then you will need to declare this in the country that you are tax resident in. You should take professional advice on this.
  • Check the minimum funds required to be deposited in your new offshore bank. This can range from zero to $50,000 and upwards.

Create your offshore company correctly and safely.

As you can see there are many complex aspects to the process, which is why you should use the services of a trusted corporate service provider such as JHB Associates OÜ to manage the entire process for you. Don’t take risks with your money – allow us to create your offshore company and account in the correct and verified way.

We are experts in opening offshore bank accounts for clients. We do things right the first time. We structure your offshore company in the correct way to enable you to use it to its full potential and we simplify the process, removing risk. So if you are thinking about starting an offshore company, forming a trust or opening an offshore bank account then talk to the experts and be in complete control of your money.

Call us, email us or complete our online enquiry form to get started.

Create your offshore company

Register your offshore company and bank account today with JHB Associates OÜ.

Call us on +44 113 819 7873 or complete our setup form.

"The majority of online companies simply do not create your offshore account in the correct way. This can leave you open to risk. Use JHB Associates and do things the right way - first time!"

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