Overseas Bank Account: A Must-Have

*Submitted guest post

Today’s world is a place where money should be available in different places for different reasons, so most far-sighted people open an overseas bank account. You may need it for personal reasons, like traveling, studying or working abroad, investments, and so on. There are also business reasons: you have counterparties abroad, and it is not convenient to make payments to them using your account back home.

Is the process easy? Well, that depends. Some banks are unwilling to open accounts to non-residents, while others agree to do so after proper checks. No matter what you are going to do with the help of your overseas bank account, the bank wants to make sure you will not engage in any dubious schemes. Therefore, an account cannot be opened overnight, especially a corporate one. Read an article on opening an overseas bank account on our portal to find out more.

Why Open an Offshore Account?

First of all, you may have to make some payments abroad, and here are the main reasons why people find it more convenient to open a overseas bank account:

You move abroad to get an education, undergo treatment, or simply work
You are planning temporary or permanent relocation
You often go on business trips abroad
You travel quite frequently to see your family or just have a rest
You have a relative abroad that you need to support financially
You are a freelancer and you need to receive payments in foreign currencies
You have employees in a foreign country
You have real estate or other assets abroad (or you are planning to acquire them)

The second group of reasons is connected with the wise management of money. In this case, you will use your foreign account to:

Reliably protect your assets
Accumulate funds by receiving passive income from real estate or any other investments
Diversify capital in case something happens in your home country
Enjoy more confidentiality

Benefits of an Offshore Account

First of all, not all banks come with benefits. We help our customers choose a reliable jurisdiction and a good bank to open an account. Our specialists keep their finger on the pulse and rely on feedback from customers who have accounts in banks to see the tendencies and adjust our recommendations. You can visit our portal by following the above link and book a session with an expert. Choosing a suitable jurisdiction and a bank is a service we provide for free!

If you have successfully selected a bank, you will have the following advantages:

Access to a wide range of offshore banking services that you can conveniently receive online.
Very little paperwork to do as compared to European banks.
Enhanced privacy protection. Offshore banks do not share information about their customers unless they receive an order to do so from law enforcement authorities.
Reasonable diversification. If you keep all your money in your home bank, there is more risk that you will lose it all one day.
Strong asset protection. If this is your first priority, we can recommend to you the jurisdictions that will serve as real strongholds for your money: even creditors that filed a lawsuit against you will not get to your capital!
Investments in multiple currencies. Some foreign banks offer really profitable investment projects in different currencies, and you can use your account to take part in them.

As you see, an offshore account is definitely a useful banking instrument that can give you a lot.

Mind, however, that some countries require their citizens to declare their assets owned abroad, including an offshore account. Check the laws of your home country to find out or seek the assistance of our qualified specialists.

A Safe Way to Open an Account

We have opened thousands of accounts and we know very well what difficulties our customers may face.

First of all, be prepared that opening a bank account abroad will require a little more effort than in your country of residence. Your documents will need to be prepared in an impeccable way as they will undergo stringent procedures.

Second, the rules adopted by foreign banks often differ from what the clients are used to dealing with back home, so they find it hard to understand the requirements without proper assistance.

With that in mind, we offer our customers the procedure of preliminary approval.

Our specialists help you draw up a special request for the bank to obtain the bank’s preliminary consent to open an account for you. The service will save you a lot of time and effort as you will not need to make any steps that will lead you to nothing. You will start collecting a package of documents for the bank after you receive their positive feedback, and this is a 99% guarantee of the fact that an account (a personal or a corporate one) will be opened for you.

Opening an Account Online

Not all offshore jurisdictions are prepared to open an account online: some will require your personal visit. We have local representatives in the majority of jurisdictions, so we can provide all the assistance we can. Anyway, if you want to know whether you can open an account online in the country you have selected, you’d better contact our specialists for updated information.

St. Lucia, Lichtenstein, Switzerland, Belize, Nevis, and many other offshore jurisdictions are ready to open bank accounts for you remotely. The procedure is almost the same: the documents are submitted online, and you communicate with bank representatives from a remote place.

Mind that the documents you submit have to be properly legalized (notarized or apostilled, depending on the requirements). We can help you with that, of course. Our specialists will also provide recommendations on filling out the documents as these need to be accurate – especially if you open your overseas bank account online.

If you have no experience in dealing with foreign banks, we do recommend that you rely on professional assistance rather than venture on your own. It will save you time, money, and effort, and you will be sure that the bank you selected will fit your purposes.

Manage your finances professionally!