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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%*.

Efficient and Convenient

Easily convert funds into local currency without having to change your account balance.

Higher Security and Privacy

Offshore banks offer high levels of privacy to securely store information on your finances.

Diversification of Risks

Greatly reduces exposure of risks from a single country’s macro & micro economic factors.

Higher Interest Rates Provided

Banks abroad may provide a higher interest rate for your money in their accounts.

Easier Entry to Global Markets

Having different bank accounts with various currencies make it easier for businesses.

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!

Frequently Asked Questions on Offshore Bank Account Opening Services

Our service fee to assist you in opening a bank account vary across jurisdictions starting from USD $699. Please contact our team to assist you.   

Typically, bank account openings can take as little as 3 days and may take up to 4 weeks, depending on the jurisdictions selected, business activities, and completion of submitted documents. Do reach out to our team and we will advise you on the timeline needed for your situation. 

Yes, in most cases your documents submitted online will suffice. In most jurisdictions, your application can be done virtually, however, should there be a need for an in-person meeting, we will assist you in requesting for a virtual conference instead. 

Yes, due to the banks needing the relevant documents of your company for their due diligence and KYC.  

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Ready To Open Your Offshore Bank Account?

Talk to our experts today and get your offshore bank account up and running in no time!