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Opening Offshore bank accounts can be a straight forward process if managed by an experienced corporate services firm. Offshore accounts typically offer a broader range of services than those offered by onshore banks. Healy Consultants provides strategic advice on offshore banking and manages the process for opening offshore bank accounts for our clients.
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Procedure For Opening An Offshore Bank Account: |
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Opening an offshore bank account must be supported by detailed information on the individual, or company's activities. For an offshore corporate bank account information such as the company's clients and suppliers, as well as information about its management team (shareholders and directors) and financial projections can also be required. |
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Healy Consultants staff prepare the application form for opening the offshore bank account and attend a bank interview on the clients behalf.
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Offshore banking jurisdictions usually require banks to enforce strict 'know your client' procedures as part of their Offshore corporate banking policies. Prior to opening offshore bank accounts, our clients are required to submit information on the company's activities and shareholders' and directors' details. |
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Healy Consultants collects the required due diligence and submits the application on the clients behalf. |
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Once approved, the bank will then issue internet banking passwords, ATM cards and other necessary paperwork. Our consultants assist clients become familiar with using the account and the offshore banks services. |
Features of Offshore Bank Accounts include: |
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Offshore merchant account services - This type of offshore bank account allows you to accept credit card orders from your customers via an offshore credit card processing service provider.
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Offshore brokerage account services - This type of offshore bank account facilitates tax-free, secure online stock market trading. Profits are banked offshore.
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Trustee services - A Trustee is the individual, individuals or company designated by a Settlor to carry out the Settlor’s wishes according to the Trust Deed. The Trustee has complete control over Trust assets. Offshore bank accounts can be used to fulfil this role.
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Corporate Finance and Letters of Credit - A letter of credit is an irrevocable payment undertaking of an issuing bank issued to a beneficiary upon request of an applicant for supply of goods, services or performance with documents stated in the letter of credit presented to the issuing bank. It is commonly available with an offshore bank account.
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Advantages of Offshore Bank Accounts include: |
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Offshore bank accounts can receive higher interest rates on deposits than many domestic bank offer.
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Offshore bank accounts, or the offshore banking industry, are one way smaller and geographically remote nations can improve their competitiveness with the more developed nations.
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An offshore bank account can offer people access to jurisdictions with stronger economies and stable political environments. This can be beneficial if resident in a more unstable market where domestic banking is not as strong.
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Offshore companies, trusts and foundations can be linked to offshore bank accounts, offering strategic advantages to the individuals involved.
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Contact Us For more information on opening an offshore bank account, contact email@healyconsultants.com or telephone us in Singapore (+65) 6735 0120. Back to Offshore Banking page. |
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| © 2003-2012 Healy Consultants Pte Ltd | OFFSHORE COMPANY SET UP SERVICES |
