Corporate Account Setup Procedures

Contrary to the offshore banking myths, you don’t need to run a multinational conglomerate in order to open a corporate offshore bank account in an offshore financial centre. In our years of experience with corporate clients, we’ve helped companies of nearly every size and type successfully open and maintain corporate offshore bank accounts in the jurisdiction of their choice.

The procedures, the features and the relevant fees will differ slightly from bank to bank and from one offshore financial centre to the next. However, there are several elements that remain constant, which we invite you to discover below.

One important fact to note here is that a corporate offshore bank account cannot be opened until a corporation has been established in that offshore jurisdiction. The documentation required for this process, while minimal, does need additional validation from the embassy or consulate of your country of origin.

However, the documentation required to open your corporate offshore bank account is minimal, and usually comprised of one or more of the following:

Many offshore banks do not require your company to deposit a minimum amount at the time of setup, nor will it be necessary to keep a minimum daily or monthly balance in your account(s).

Your privacy is of the utmost importance to the offshore banking community, as well as to our staff. We simply make the introductions between you and your new offshore bank, and assist you in its setup (as well as the incorporation of your company ) - we do not maintain current records of your offshore bank account; we do not have any data that links your name and information to your offshore account; and the banks have no further correspondence with our office once your offshore account has been opened.

And of course, your offshore jurisdiction will do everything in its substantial power to protect your identity. In fact, in offshore jurisdictions, the revealing of banking identities and information carry stiff fines and prison time.

  • Corporate documents (i.e., articles of incorporation). We can draw these up for you.
  • Signature card, for verification against future transactions.
  • Gas, electric, phone or other utility bill, or a bank statement from your bank in your country of origin.
  • Reference letter(s). This is rarely required, but when necessary, it can come from your attorney, chartered accountant, or other professional who holds your confidence and is aware of your financial affairs.

Because of the offshore banking community’s commitment to their clients, we believe you’ll find offshore corporate banking to be flexible, convenient, and completely safe. Below are just some of the features ad benefits offered by most offshore banks to their corporate banking customers:

  • Corporate credit and debit cards
  • Transactions in multiple currencies
  • Internet banking access, including for wire transfers worldwide
  • Low fees; sometimes no fees
  • Interest-bearing accounts
  • Low or no daily and monthly minimums

If you’d like Offshore Banking International (OBI), to assist you in opening a corporate offshore bank account, please do not hesitate to contact us at your earliest convenience. We are also happy to consult with you and your company board to determine which offshore jurisdiction best suits your financial needs.