Premium bank Account Opening Services
Our expert team at FormationWise will assist you in opening a bank account in your chosen location.
Are you an international business owner?
Are you interested in enjoying the benefits that come along with offshore bank account opening? Do you want to take advantage of the security and capital protection that these accounts offer? Would you like to learn more about the best countries to open offshore bank accounts? If the answer is yes then FormationWide can help! We can offer you the assistance that you require with our comprehensive list of services that are designed to help you set up offshore bank account.
Why should you get an offshore bank account?
Choosing an offshore business bank account or a personal offshore bank account involves banking with a financial institution that is outside of your home jurisdiction. There are tons of benefits to opening an offshore bank account.
Asset protection benefits
A key benefit of opening an offshore bank account is the fact that it places your wealth outside of the reach of creditors, government bodies and other institutions within your jurisdiction. This makes it an ideal option for asset protection.
Risk diversification benefits
Geographic diversification is a way to take your asset diversification to another level. Depositing your money into offshore accounts is an expedient, efficient way to accomplish this diversification. You can also take advantage of further diversifying your portfolio through multi-currency storage.
Key factors to look for
When selecting the right offshore bank account for your specific needs there are a few factors to consider:
Send us an inquiry today!
Steps for making an order
Select the offshore bank account opening package for your desired jurisdiction
Simply pick the offshore bank account opening package for the jurisdiction that you desire. You can do this by filling out our form, giving us a call or by placing your order via our website.
Make your payment
After you have finalized the right package for opening an offshore business bank account or a personal offshore bank account, you next need to make your payment for the service that you have selected.
Send your required documents
Step three involves sending us all of the necessary documents required to get an offshore bank account. You can send this documentation via email through an attachment or you can do so by phone.
Start the process to open new bank account
The fourth step in the process of setting up an offshore bank account online involves our team receiving yoru payment and required documentation. Once we have confirmed receipt, we will begin working on the service that you have ordered for the chosen jurisdiction.
Open an overseas bank account online
The end result of this process involves our team facilitating your offshore bank account opening.
Jurisdictions we work in
Formationwise offers offshore bank account opening services in the below international jurisdictions:
Our services include
Why choose FormationWise for offshore bank account opening?
FormationWise offers an impressive list of premium offshore accounting, taxation and auditing services that are delivered through our extensive network of qualified partners operating across the globe. This service offering includes assistance for the opening of offshore bank accounts. A few of the following reasons you should hire FormationWise for your offshore bank account opening needs in your chosen jurisdiction include:
We offer a complete range of services
From services that range from offshore bookkeeping and internal audits to financial reporting, tax planning, payroll services, and more, our team provides an impressive offering that is designed to assist you in running your financial operations efficiently in your chosen jurisdiction.
Our team is highly experienced
Our team of financial professionals has years of experience providing assistance to new businesses and established companies of all sizes with services like offshore accounting, bookkeeping, compliance audits and much more.
We offer a free initial consultation
When you choose FormationWise, you benefit from a free initial consultation where we will evaluate and analyze the best auditing and accounting services for your business’s needs.
We offer full confidentiality
You can count on full confidentiality when you choose FormationWise to handle all of your offshore taxation and accounting needs. When you choose our team, you can be sure that all of your valuable data, records and personal information is completely secure.
Our team is effective and reliable
You can count on the FormationWide team to effectively and reliably manage your business’s financial data so that you can grow your revenues each year and take your company to the next level of success.
Our services are cost-effective
We offer services that are cost-effective. Our team of financial experts offer the best in offshore taxation and accounting services across the globe and we do so while offering prices that are competetive within the market. You can count on our team to never compromise when it comes to quality.
We offer transparent pricing
We value integrity and honesty here at FormationWise. Because of this, you can rest easy knowing you will never incur any hidden costs or fees when you select our professional offshore auditing and accounting services.
What is an offshore bank account?
An offshore bank account is a type of account that is held in a foreign, offshore bank. These banks are regulated under an international banking license. These licenses generally prohibit a bank from being able to establish any type of business dealings within the established jurisdiction. Offshore bank accounts are a popular option with both individuals and companies. The reasons for getting offshore bank accounts include bank secrecy – strong privacy, little to no corporate taxation and protection against instability that is political, financial or local in nature.
It is important to note that an offshore account is a type of bank account that you hold in a country that is different from the one where you reside. These accounts make it possible for you to both make and receive payments. You can also hold money and set up various account types. These include savings and investment accounts where you can hold multiple currencies. Given the nature of these accounts, it is a good move to work with our offshore bank account opening services that we offer here at FormationWise. We specialize in helping our clients to find the right offshore account opportunities in top global jurisdictions.
Key documents you need to prepare
The documents that you must prepare to open up an offshore bank account include ones that verify your personal information. They include a copy of your passport, your driver’s license or any other identification documents that you have which were issued by a governmental agency in your home jurisdiction. You can also be asked to provide documentation that proves your address. This often takes the form of a utility bill. The bank you are sending these documents to will have to be able to verify that they are authentic. For this reason, notarized copies are often required.
There can be additional types of documentation that you will have to provide to open up an account with an offshore bank. You could be asked to supply financial reference documents that have been provided by your current bank. Proof of average balances and a relationship that can be deemed as satisfactory is often the purpose behind an offshore bank asking for this type of documentation. You can often send in bank statements that cover the past six to 12 months. The offshore bank you choose may also ask you to provide documentation that notes the source of the funds that you will be depositing.
High risk business accounts
You’ve probably heard about high-risk merchant accounts and wondered whether you need to use one. Businesses that are considered high risk will need one in order to process debit and credit card payments. First, let’s discuss what is a high-risk business. Your business may fall into this category if:
There is no set authority, however, that determines these risk factors. Each bank and payment processor has its own requirements and standards.
How can we help you in this
Our team at FormationWise has the necessary experience in the world of global finance to assist you in opening a high-risk offshore account that will give you the ability to effectively process debit and credit payments through top-rated networks such as Mastercard and Visa. You can count on us to assist you in proving that you meet the specific requirements that are necessary to open up one of these highly valuable merchant accounts. Partnering with our banking specialists is the straightforward way to get through this process as quickly and efficiently as possible.
How will opening a bank account benefit your business?
There are a lot of key ways that offshore bank account opening will benefit your business. The privacy and security benefits of an offshore account are undeniable. These accounts are strictly private and allow you to safely hold funds in the jurisdiction where your offshore bank is located. The ability to conduct transactions in multiple currencies is another way that your business benefits from an offshore account. You can use these accounts as a great way to secure capital and access your funds conveniently. Offshore accounts also make it possible for you to take advantage of efficient tax planning.
These are just a few of the compelling benefits that you can enjoy when you open an offshore account with the assistance of our team here at FormationWise. We look forward to assisting you in opening an account that will make a big difference in your ability to continue to grow your company and your net worth.
What is the process?
The process of opening an offshore bank account is as follows:
If you have financial commitments across multiple world regions and jurisdictions, an offshore bank account can make it much easier for you to manage them. Offshore accounts are ideal for international business owners who need to be able to effectively receive and make payments and transfers across the world. They are also a great option for you if you wish to reduce your political risk, want to protect your assets, enjoy currency diversification and desire the ability to act quickly in the realm of international diversification.
People opt for offshore bank account opening as a way to optimize their obligations from a fiscal standpoint. The tax optimization that an offshore account offers should never be confused with tax evasion. Offshore banking is conducted in full accordance with the laws of the jurisdiction where the account is located. Offshore accounts also have to be compliant with the account holder’s home country.
The basic requirements that you must meet to open an offshore account in your chosen jurisdiction are going to be similar to those you would have to meet to open a bank account in your home country. Offshore bank account opening requires you to provide details that include your name and date of birth along with proof of your citizenship, address, and your occupation. Offshore banks will have specific requirements that you must meet to verify any documents that you send them.
The term high-risk business is utilized by payment processing firms and banks to denote businesses that face challenges in accepting credit/debit card payments which standard businesses do not have to deal with. For one reason or more, these businesses are perceived as representing an elevated risk when it comes to chargebacks. Because of this, high-risk businesses tend to face more restrictions as well as higher processing fees. Examples of high-risk businesses include online gambling operators, telemarketing, cryptocurrency, prepaid debit cards, recurring billing/subscription services, ticketing services and businesses within the adult sector.
A key benefit of offshore bank account opening is the fact that it allows you to separate your personal assets from your business money. You can open up a company and an offshore account in the same jurisdiction. At the same time, many jurisdictions allow you to open an offshore company in a different location than that of your bank account.
Though some jurisdictions will allow you to open overseas bank account online remotely. This can be done by completing your application and submitting all required documents by way of a courier. It is important to note that this is not the standard practice. Most banks will require you to visit in person at some point in time.
Though the prospect of opening an offshore business bank account or a personal offshore bank account might seem daunting, the reality is that it is relatively simple to open an account with an offshore bank. It is primarily a matter of filling out the paperwork correctly and providing all required documentation. Working with our team at FormationWise makes the process a straightforward one as our experts have extensive experience in helping our clients to find success in offshore bank account opening.
Today’s offshore banks offer customers the option to open multi-currency current accounts. There is a wide range of currencies that may be offered that include options such as the US Dollar, the Euro, the British Sterling, the Japanese Yen and the Swiss Franc. There are a lot of advantages to being able to receive money in more than one currency. These benefits include the option to hold your funds in a selected currency while you wait for rates to become more favourable.
Opening a personal offshore bank account is an option that you have. The process of opening a personal offshore account will depend on the jurisdiction that you have chosen. This is why it is important to start things out with a consultation provided by our experts at FormationWise. We can help you to better understand any of the challenges that you could possibly face in opening up an offshore personal account.
When it comes to the best place to open an offshore bank account, it depends on your specific needs. You can count on our team at FormationWise to provide you with a list of service countries that are ranked from lower to higher fee jurisdictions. There can be a difference in fees, but all of the jurisdictions that we work in guarantee confidentiality and integrity for all investors. Some of the top jurisdictions for offshore bank account opening include Germany, the Cayman Islands, Switzerland, Singapore, Belize, Hong Kong and Panama. Our goal is to help you find a great offshore jurisdiction with high-ranking currencies that can offer you outstanding tax and economic benefits.
Here are some of the services that we offer our international clients to run or incorporate their offshore business: