Opening Bank Account

Now you do not need to visit the offshore jurisdiction in which you wish to open bank account, or to travel to the country to conduct your banking activities and maintain the account. Depending on the jurisdiction you favour, the introducer and type of account you have chosen, you will be required to fill in certain paperwork. The majority of legitimate offshore banking organisations will also allow customers to conduct all ongoing banking activity through the internet, e-mail, post, fax or telephone.

With many providers now offering full credit and debit card services, you will also have easy and direct access to your funds at all times. Most offshore banks now have various term investment and offshore savings accounts with high rates of interest.

As part of the procedure of opening the account, almost all offshore banks want to receive some form of evidence of the account signatories' identity. Many offshore banks request that account signatories provide letters of reference from another bank.

Some offshore banks also demand that a bank reference each be given by all directors and shareholders of the company. Sometimes an introduction by a party known to the offshore bank (such as the existing customer) is accepted instead of a reference. However, some offshore banks still open company accounts without any references at all.