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International Banking Information
An International Bank Account is a bank account in a country other than the one which you are a citizen. If an American were to open a bank account abroad, it would be considered an international bank account. International banking, or an offshore bank account, commonly refers to accounts opened in financial havens such as the Caribbean Islands, Cyprus, Luxembourg or Switzerland. These banking jurisdictions offer the most privacy, stronger protective legislation and global availability of your deposits.
Offshore Bank Account Opening
Opening an international bank account is not significantly different than your domestic account. You provide your personal information and identification, a reference or two and your opening deposit. When opening a bank account abroad, your US Passport is generally required as well as proof of residence, among a few other items depending on the institution’s requirements. The advantage of having Offshore Company establish your account is that we are eligible introducers. So, we can establish your account for you without you needing to travel abroad.
Offshore Banking Advantages
When you bank internationally you are taking advantage of various features of the foreign jurisdiction. In some jurisdictions offshore banking privacy is taken so seriously, providing information to unauthorized parties is a crime for bank employees. An international bank account can be a great privacy tool and in order to maximize your financial privacy, the bank account is opened in the name of an offshore company. US people are taxed on worldwide income. So it is important to follow the laws and obtain tax and legal advice.
International bank accounts held by offshore companies and/or trusts offer the most in personal financial privacy and asset protection. Banking offshore is also a great way to participate in international investing opportunities. This organization opens bank accounts in all major international jurisdictions and acts as an eligible introducer to Switzerland’s strongest banks.