Hello guys! I need to open an offshore bank account for my company. Would be great to do it within a few days without visiting bank office. Are there any well-known solutions? The price or jurisdiction doesn’t matter.
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I've recently heard about https://worldcore.eu/ service, it's EU-located but very easy to use for wire transfers and debit cards or even accepting payments on websites.
US based? Good luck due to a little known law called FATCA, or Foreign Account Tax Compliance Act.
I have AML trainings for clients like you...
Besides the AML Component, my advice to you is to step back, and realize if you are going offshore for banking needs, you want to find a bank that will suit your purposes. Consider this an excuse to take a few days down in Grand Cayman and do everything in person. It will be relaxing and get you everything you need done in good standing.
Short answer, no, not if you're a US person or company. Not in a legit country and the list of shady countries is going down, if there are any left (maybe you can in Vanuatu but unless you're a drug trafficker I'm not quite sure why you'd want an account there). And nearly every country has stringent know your customer/anti-laundering laws in place that make it difficult to quickly open a new account even in countries you would think would be easy.
Having done a lot of international multi-jurisdictional business and opened accounts in multiple countries for absolutely legit reasons, the jurisdiction absolutely matters or there's no reason to do it. The legitimate reasons to do it are for tax efficiency or operations and then you need accounts in certain countries. You don't just want an offshore account anywhere or you'll trap your money there trying to efficiently repatriate it.
Venmo / snap cash it to me I'll keep it nice and safe
opening uk bank account from abroad (Originally Posted: 06/22/2010)
Hey, im about to start as an anlayst in the uk and am currently living in Germany. I do not have an address in the uk yet. Does anybody have experience with opening a bank account from abroad? Which banks will allow you to do that? I think most of them require proof of residence in the uk, althought this does not seem to be a strict legal requirement and there are exeptions. Thx in advance!
You should check HSBC's bank account named "Passport".
And even if your company officially requires a bank account before you start your job, just ask them if it's OK to create the account only when you arrive in the UK. That's perfectly understandable and I have witnessed this case a few times. You don't worry, just arrive in the UK, go to a local branch or something, create your bank account, and then get back to the HR with your detail.
looks good, thanks. Problem is less that my company will make problems if I dont have an account and more that they will not pay me if I dont have an uk account :D
Oh, just differ the payment until you've got the account created.
HSBC passport account will charge you dumb fees just for being a foreigner, plus it's an onshore account so as a foreigner you lose out on tax breaks. Avoid.
I'd suggest an account with Natwest Offshore. Call them and they will email you an application form. Whole account opening can be done through the mail before you move, so everything is ready to go once you arrive in the UK. No fees or minimums. Added bonus is that the account will be based in the Channel Islands, so if you're a non-dom or not-ordinarily-resident person in the UK (you are probably going to be both of these) spending some time working outside the UK (business trips), then your tax burden will be lower. It is part of the UK clearing system so your debit card, credit card and transfers work seamlessly with UK merchants and institutions, indistinguishable from an onshore account.
hmm, alright, sounds good to. I am an eu citizen and will be fulltime employed in the uk with uk contract so Im not sure what tax breaks I would be eligble for. Could you enlighten me? Thx
Yeah, as he stressed before he'll be there full time, not just for an internship. So I'm unsure about the fiscal benefits of an off-shore account if he wants to use the money in the UK.
But it's true that HSBC's Passport charges small yet unnecessary fees.
Hey,
I had the same case and first of all I looked for countries where the requirements for opening banking account are less strict. Top 3 included Switzerland, Cyprus and Germany. I have chosen Cyprus, because it offers the most profitable conditions for foreign investors. But I made a huge mistake, because decided to find a bank on my own. As a result I picked a wrong one and lost a lot of money there. Next time I asked for help a special financial service company https://www.advancedconsulting.cy/registration-of-foreign-companies/set-up-company-cyprus/ that knows everything about opening the bank account in another country . They helped me find the best one option, controlled all stages of registration and now inform me about any changes and improvements.
Opening a Swiss Bank Account in the US (Originally Posted: 12/09/2011)
I want to open a small bank account. I have 100K USD that I want to convert to CHF JPY CAD and AUD and I want the bank to be domiciled in Switzerland.
What is the fastest way I can do this?
Give it to me and I will take care of it.
Almost all Swiss Banks will now tell you that they do not take new American clients. Thank you IRS.
lol i'll bet
As far as I know, it will be impossible with an account that small.
i just want to keep some bugout cash but it appears that anything less than 1MM is hard to obtain overseas. too damn bad, i used to have a UBS account when i was a kid, but that was through my dad.
I guess it all depends on your definition of "bugout," but when I think of my bugout scenarios I assume I will not be able to withdraw money from banks.
cayman islands is the new switzerland
I think Austrian banks or Lichtenstein has better privacy laws than Switzerland. Either way it won't do much good opening account here because of the paper trail. I would just keep a lock box full of cash or open a safe deposit box in the name of an old relative and just get yourself as a signer on the account.
Interested as well
go talk to someone at Coutts & Co. They have various off shore options.
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