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OFFSHORE BANKING


OPENING AN OFFSHORE BANK ACCOUNT
It's open secret that international banks impose growingly stringent entry requirements to the offshore applicant desiring to open a bank account with them.

We assist our clients to have their accounts up and running with minimum formal and financial obstacles.

What's even more important, we introduce our esteemed customers only to the banks, having proved:

• Long-term stable financial status
• High quality of services,
• Reasonable fees and charges.

ABOUT OFFSHORE BANKING
Your world's moving but your money doesn't have to...
Finances designed for People Living and Working abroad...

Wherever your career takes you and however your lifestyle changes along the way, it's reassuring to know that your financial arrangements can remain constant.

One of the great advantages of living and working abroad is the opportunity to maximise your income potential. However, where do you start?

Some of the questions you may be asking are:

- How easy is it to open a bank account that is tailored for my situation?
- How can I get immediate access to my cash across the world?
- Does my local bank understand the issues that face me now? For example, how to move money across the world?
- Is my money secure? Is it safe from political or economic problems that could decrease the value of currency?
- Where do I get reliable independent advice on how to maximise returns on my money?
- Am I minimising the amount of tax I pay on savings and investments?
- How do I find out about the tax system in a new country?
- What financial advantages can I benefit from now that I'm living or working abroad?
- Does my bank have language or cultural problems in helping me?
- Do I have round the clock access in the currency of my choice?
- Do I have to open a new bank account with all the subsequent admin problems every time I move?

These could be some of the issues you're facing. In fact, that there are specialist financial services for people living and working abroad.

You'll find all the answers to all the above questions, and more, in the offshore advantages section below.

WHAT ARE THE ADVANTAGES OF BANKING OFFSHORE?
Offshore banking can present solutions to many of the issues facing people living and working abroad, providing a range of "hassle-free" products and services designed specially for them. With expats often needing to move their lives and their finances around the world, offshore banking can help to ease the transition to a new country, company, culture and financial system.

No matter where in the world customers are located, offshore banking can offer a global service that is always close at hand.

Instant access and availability are important to people living and working abroad, as you are constantly "on the move". Account information needs to be accessible 24 hours a day, seven days a week. Automated telephone and internet banking services are pre-requisites together with a website offering a comprehensive range of product and service information plus financial and lifestyle tools.

Current Accounts
Interest bearing current accounts, which provide a flexible and secure foundation for offshore finances are available in a variety of currencies e.g. Sterling, US dollars and Euro. These are a basic necessity for day-to-day banking.

Debit Cards
Internationally accepted debit cards, available in sterling and US dollars and with global payment and cash withdrawal facilities, provide easy access to cash, wherever in the world you might be.

Savings Accounts
Offshore banking offers an extensive range of savings accounts in a variety of major currencies. Instant access, notice and fixed term deposit accounts pay attractive interest rates which increase with the size of the deposit so that you're able to enjoy the highest qualifying rate on the whole balance.

Investment Advice
Specialist teams of financial advisers can offer a wide range of investment, property, and retirement planning solutions. Qualified professionals give genuinely independent and impartial financial guidance, selecting all products on strict performance criteria.

Mortgages in Sterling and Foreign Currency
You don't have to live in the UK, to buy in the UK. For those who are house hunting and require a mortgage facility, a range of schemes is available for property purchases in the UK, either as a primary home, second home or to rent out or live in. Property purchases in France can also be arranged. Foreign currency mortgages are also available, allowing you to make repayments in a range of currencies.

Insurance
A variety of schemes are available, which can be tailored to meet the needs of you and your family.

Credit Cards
A choice of multi-currency credit cards are available, all offering convenience and financial flexibility. With interest free periods available, these cards can help you make the most of your money.

Internet Banking
Internet and Telephone banking enables you to take control of your finances from the comfort of your own home or your workplace. Ability to check account balances, send payments worldwide, transfer money between accounts, check credit card transactions and set up regular payments are a must, together with the support of a professional and experienced team of staff round the clock, on hand to offer assistance if required.

Tax advice
Regular financial reviews, plus suggestions on how to exploit the possible tax benefits, not only whilst abroad but also prior to moving away and upon returning home. A tax advisory service, brochures, tax planning tools and country guides all help to take the mystery out of tax matters.

Offshore Investing
What’s in it for your money?
- The possibility of significant tax savings
- Competitive returns
- Diverse range of investments
- Access to the world's major markets
- Security and confidentiality

Investment choices
Capital protected income generating capital growth. The offshore market can offer whatever your money needs.

There is a huge selection of investment products available in the offshore market place. When making a decision about where to invest and how, it is often useful to first establish how risk averse you are - and then select an appropriate investment portfolio.

EVERY ONLINE BUSINESS SHOULD KNOW

"Offshore Banking" - maybe this term conjures up images of secret Swiss accounts, James Bond, and sipping Martinis at a chalet in Liechtenstein. The fact is though that doing a portion of your banking in a financial institution outside of your national borders is not only easy, it also offers numerous benefits to those who make their living via the internet.

Let us explore some of its benefits.
We will also try to answer some of the most common questions regarding offshore banking in the hopes of demystifying the topic for the benefit of all internet businessmen and others who make their income online.

1. WHAT IS OFFSHORE BANKING?
It is much like your conventional Banking, except that the bank is based in an Offshore Jurisdiction or Tax Haven. Offshore Banks carry out the same functions of transferring money into and out of accounts, you can have an offshore savings account, set up card services, loans etc.

2. IS OFFSHORE BANKING 'LEGAL'?
This is among the first questions asked when discussing this topic. The answer is YES. Many of the largest companies in the USA do their banking offshore including Exxon and Boeing, among others. You do not need to be a giant corporation though to reap the benefits of an offshore bank account.

You may wonder why you don't see many ads on the net for offshore banking. If you live in the US, the reason is that federal law denies international banks the right to advertise within the borders of America. Of course this is to the benefit of domestic banks.

Remember, you have just as much legal right to a bank account offshore as you do to a domestic account.

3. WHY BANK OFFSHORE?
For the internet businessman and any business that creates income online, there are several benefits to having an offshore bank account. These benefits encompass privacy, asset protection and wealth building.

One concern that offshore banking helps deal with is privacy. The current laws in some countries, including the USA, allow the government full access to anyone's domestic financial information for almost any reason at all. The act of creating a foreign bank account helps make some of your assets harder to access by those who should be minding their own business. A good foreign bank will usually not require your Social Security number, they won't answer questions from US sources about your credit and banking history, and they will not provide your financial information to any domestic data collection agency.

An offshore account can also help you with wealth building. First, there are the tax advantages. Offshore accounts can be arranged in jurisdictions that do not impose taxes on income earned abroad. This can be very beneficial when arranged correctly. There is also the ability to earn a higher return on your investments with an offshore account. Many foreign banks are not as tightly regulated as domestic ones and can offer higher interest rates on accounts. This is due to their ability to make more lucrative investments and also the fact that the overhead to operate a bank is lower in many countries.

Finally, the ability to expand your business globally increases when you create an additional bank account outside your own borders. Many offshore banks allow you to do business and hold your funds in multiple currencies. This allows expansion of your customer base which in turn can help increase profits.

4. ARE THEY HARD TO SET UP?
In recent times, due to increased vigilance by authorities trying to avert criminals and terrorists, setting up bank accounts has been more difficult than in the past. This is simply because if the Bank requires increasing verification in the form of documentation of an individual or company and their activities, (often call due diligence), but the individual or company desires increased privacy we have a dilemma. Also some governments are now enforcing anti-avoidance measures for tax purposes, and so Banks in certain Tax Havens may have to declare the beneficial owner of the Bank Accounts.

With the above in mind it is thus important to get the right solution for your needs. We have for some time provided offshore bank accounts in a number of Tax Havens with minimal ID requirements and good privacy protection including Panama (some of the strictest privacy laws in the world), St Kitts, Belize, Antigua and Latvia.

5. WHAT IS NEEDED TO SET UP AN ACCOUNT?
To open an online offshore bank account you will typically need the original Certificate of Incorporation, Original Articles of Incorporation (for your offshore company), Notarised Passport, copy of ID with address on it. You will not need to visit the tax jurisdiction in person as the online offshore bank account can easily be set up by sending the relevant documents by fax email or courier.

However if you need a bank account with the minimum documentation requirements or need a specific offshore banking solution, then do not hesitate to contact us with your enquiry.

6. WHAT COUNTRY SHOULD YOU BANK IN?
Choosing the jurisdiction to do your offshore banking in will depend on a combination of your business situation, asset planning goals and even to some extent your personal taste. There are several factors that should certainly be considered when doing your initial research though.

Is the country you are considering a stable country? You usually do not want your account in a country where “coup d'etats” are a regular occurrence. On the other hand, if the financial system is strong enough, it will withstand even political turmoil as in Panama when Manuel Noreiga was forcibly removed by an outside government. Most of those with bank accounts and corporations in Panama were not affected by this, since the financial system had a solid backbone.

7. WHICH ARE THE COUNTRY’S BANKING SECRECY LAWS?
There are still several countries with strong banking secrecy laws who will go all out to protect your financial privacy as long as you are not breaking the law. Switzerland and Panama come to mind immediately for not bending to international pressure to allow outside government agencies to peer into their customers' accounts whenever they want.

How far away is the country? Some individuals prefer their offshore accounts to be geographically close, since the time zones are often similar and communication is a little more convenient. Americans might prefer their offshore accounts to be located in the Caribbean or Latin America, while a citizen of the U.K. might prefer an account at an institution located on the Isle of Man, all other considerations being equal.

8. ACCESSING AND MANAGING YOUR MONEY
Thanks mainly to the internet and advances in international communication technology, offshore banking is fairly straightforward. Most accounts can be arranged with online access to your information. Transfers of funds can be done online as well. As far as accessing your money, most offshore banks will offer a debit card with your account so you can retrieve your money whenever you want, wherever you are from most ATMs.

As you can see, accessing and managing your funds in an offshore account need not be any more difficult than doing the same with a domestic account.

9. ACQUIRING AN OFFSHORE BANK ACCOUNT
Once you decide that an offshore account is right for you and you have done some further investigating to select the appropriate country to open your account in, the actual process of acquiring the account can be relatively straightforward.

Just like Eurofinanzza, there are a number of legitimate offshore financial planning and asset management firms who will complete and submit all the paperwork for you for a reasonable fee. The advantage to this is they usually have connections with the banks they represent and can arrange your accounts more quickly and easily. Also, they can often offer you added perks such as secured credit cards, merchant accounts and incorporation services.

Be sure to compare the fees charged and services offered and always get feedback from previous customers. Of course, be wary of any offers that sound too good to be true, such as outfits offering unsecured credit cards with your offshore bank account. This is almost impossible to arrange with a new account, and anyone offering an unsecured credit card offshore may just be planning on taking your money and disappearing.

Otherwise, do your research, ask questions and review testimonials. Deal with a reputable firm and you will be well on your way to reaping the benefits of an offshore bank account.

OUR FEATURED OFFSHORE BANK ACCOUNTS

Offshore banking accounts can contain the following features:

- Multi-Currency
- Online Offshore Banking (Internet Banking Offshore)
- Phone Banking
- Use of Cheques
- Credit Cards(Visa)/Debit Cards (Maestro)for use in ATMs or Internet
- Highest level of Privacy
- Tax Free
- No Credit History required

We hope the above information has helped not only clear up any misconceptions about offshore banking, but also given any internet businessman pause to consider this financial tool as part of their overall wealth building and asset protection plan.


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