Bank Account & Nominee

Overview:

Almost without exception, entities need bank accounts if they are to do business. So naturally, the vast majority of those who incorporate offshore will need to open a bank account for their company sooner or later.

Most people are intrigued by offshore banking but do not have a good understanding of it. Many simply accept the distortions they read or hear about offshore banking as some form of clandestine activity and that it’s too risky, illegal, immoral or unethical.

All offshore banks are regulated in one form or another within their jurisdiction and the regulations are usually less restrictive and more protective of depositors” rights than US law. Less restrictive regulations abroad allow foreign banks more freedom in locating the best investments worldwide. Allowing them to pass on and share their profits with their customers.

Furthermore, banking offshore may have tax benefits by reducing your exposure to paying less tax for interest profits earned outside your home country, protection of your assets, estate planning, confidentiality, and the chance to take advantage of doing business overseas from a zero tax jurisdiction with near hermetic confidentiality.