Offshore Banking FAQ

Are all businesses treated equally when opening the offshore bank account?

There is a wide range of bisnesses that should have some kind of licence to operate. For example, Broker Dealers, Banks, Mutual and Hedge Funds, various e-money providers, Trusts, Security Exchanges, Universities, Churches, Insurance companies, Online casinos. Such businesses have much lower success rate when opening an offshore bank account, even when presenting complete licensing documents.

There are some businesses for which it is not mandatory to have a special licence, but for which offshore bank account opening is very problematic – for example, adult business, non-prescription drugs, multi level marketing and charities. The first and second one – because of high risk of illegal content of product, while the third and fourth – for high risk of scams.

Also, there are businesses for which it is imposible to open an offshore bank account. These are illegal businesses like selling fake diplomas, prescripting drugs, rising funds for unregistered investment oportunities etc.