Corporate Bank Account Opening Requirements
Over the years, our team at Worldwide Fellow has established an extensive network with various banks and financial institutions to expedite the process of open corporate accounts for our clients.
Get in touch with us and get your offshore corporate account today!
Offshore Bank Account Opening Services
What is an Offshore Bank Account?
Offshore banking is simply another word for opening a bank account abroad. These bank accounts are typically setup in countries that you do not reside in or you are running a business in a foreign country. Having an offshore, or an overseas bank account, allows you to make and receive payments, hold money and setup accounts in multiple currencies at your convenience.
Different offshore banks in different jurisdictions has their own requirements to be met for you to open one. Do speak to our team of experts to assist you on finding an account that is feasible to your business needs.
What are the Advantages of Opening an Offshore Bank Account?
Great Tax Benefits
Lower rates of taxation in the various jurisdictions. Some as low as 0%*.
Diversification of Risks
Greatly reduces exposure of risks from a single country’s macro & micro economic factors.
Efficient and Convenient
Easily convert funds into local currency without having to change your account balance.
Higher Interest Rates Provided
Banks abroad may provide a higher interest rate for your money in their accounts.
Higher Security and Privacy
Offshore banks offer high levels of privacy to securely store information on your finances.
Easier Entry to International Markets
Having different bank accounts with various currencies make it easier for international business
Minimum requirements to open an Offshore Bank Account
To open an offshore bank account, you will need to provide a few documents and to meet certain requirements. These will include providing proof of identity, submitting documentations regarding your business, and showing proof of sufficient funds. Proof of residency is also required by providing a utility bill, lease agreement, or some other documents that may help with the verification process.
In addition to the above, depending on the jurisdiction and the institution that you have decided to setup your bank account in, you will have to familiarise yourself with the fees involved. Fees associated with these accounts vary and it will be prudent to understand the costs before opening one.
To make it easier for you, our team of banking specialists at the Worldwide Fellow would be more than happy to assist you today!
Do you have any questions? Please provide us with your contact and we will get back to you shortly.
Frequently Asked Questions on Offshore Bank Account Opening Services
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