Personal Offshore Bank Accounts
A personal offshore bank account is a bank account opened on a physical person. In most cases, the client is the account holder and beneficial owner of the funds in the account.
A Personal Offshore Bank Account is protected by the banking secrecy of the offshore jurisdiction. Different jurisdictions have different laws in regards to the financial privacy of your personal bank account. The personal offshore bank account is the least protected asset protection tool.
An offshore personal bank account, when combined with a company incorporated offshore, can provide asset protection from legal settlements, bankruptcy proceedings and tax authorities. Offshore personal bank accounts offer a variety of benefits and banking services, depending on the jurisdiction. Some of these benefits and services include no minimum deposits, online banking, minimal personal information needed for the application process, credit and debit cards, investment accounts and multiple currency transactions.
Benefits of opening a personal offshore bank account include:
- An account manager to assist with all your banking needs
- Deposit your earnings from your salary, retirement fund or as a self-employed individual the earnings from your business
- Personalized internet banking package to access your account 24/7, enabling you to carry out transactions, outgoing and incoming transfers, currency exchange, finance your debit/credit cards
- Apply for your personalized debit/credit card
- A current account can be made into a joint account by adding an additional name to the account
Requirements to open a personal offshore bank account include:
- Completed and signed application forms
- Supporting documents
- Notarized/Certified copy of valid passport
- Notarized/Certified copy of valid government issued ID
- Proof of address (utility bill or credit card statement)
- Bank reference letter
