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Chapter 2


Offshore banking allows for increased financial privacy. US residents can enjoy the same financial rewards of these businesses by banking offshore. Protecting your money from divorce, lawsuits and legal battles is another reason. Offshore bank accounts are opened in the name of companies offshore to provide maximum privacy and security. Offshore banking accounts are not just for the wealthy. There is a distinct rise in the number of Americans who are putting their money into private financial accounts. The purpose of this writing is to provide understanding and information on the subject.

Confidentiality of an Offshore Bank Account

Most offshore bank account jurisdictions have strict confidentiality rules and regulations in place that help to ensure that the identities and transactions of investors and depositors are safe from the casual probe or prying eyes. While this confidentiality is almost legendary, it is not possible to guarantee absolute privacy and anonymity. All financial institutions the world over have an implicit legal obligation to report and comply with investigations into suspected serious criminal activity. This, of course, includes terrorism (a more recent phenomenon), money laundering, or the fruits of the illicit drug trade.

However, in the vast majority of instances where there is no compelling criminal accusation, depositor information is guarded in a jealous fashion. These offshore banking jurisdictions are designed to provide the utmost in confidentiality, and serve to judiciously protect and safeguard depositor information. This high level of confidentiality is especially noteworthy as it relates to protecting assets from domestic litigation and civil matters such as divorce or contested estates. It is not in a bank’s interest to divulge any confidential or depositor information, and they have traditionally only done so reluctantly and with certain, rigorous tests being met by the requesting government entity. Any semblance of leaks or breaks in confidentiality would serve to break the confidence of other potential accountholders and they would stand to lose a great deal of the banking business.

Even deeper and tighter levels of anonymity and confidentiality are available via other arrangement or asset-holding vehicles such as International Business Companies (IBCs) or Offshore trusts, though these are more complicated to establish and properly run than simply “opening a bank account”.

The goal of anyone looking to open one or more offshore banking accounts should be to strike the appropriate balance between asset protection, anonymity, security, and accessibility

Additional Information about Offshore Banking Accounts

Popular jurisdictions for offshore bank accounts can be found in various parts of the world. However, it is very important to form an offshore company to own the offshore bank account. The jurisdictions that offer the most privacy for the owners of an offshore company are not necessarily in the same jurisdiction as the offshore banking account provider. You can have a company in the island of Nevis and a bank in Switzerland. Nevis company law offers maximum privacy of ownership. Switzerland offers the strongest combination of bank safety and financial privacy. It is critical to establish the right combination for your specific needs.

OffshoreCompany.com is the world authority in offshore services, financial privacy plans and asset protection plans for a worldwide audience and has been at it since 1977. We urge any prospective client to seek the assistance of a trusted offshore services coach by using the number or form on this page.


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