Offshore Banking Centers Offshore Financial Centers Offshore Formation Centers Offshore Centers

Offshore Banking Centers

Offshore banking centers as the name suggests are offshore tax havens or jurisdictions which offer the services of offshore banking. Offshore banking centers can be located around the world. Some offshore banking centers are Panama, St Kitts and Nevis, Bahamas, Cayman Islands, Anguilla, Belize, Dominica and many other countries. Other than offshore banking many offshore banking centers also offer services such as incorporation of offshore companies, formation of offshore foundations and trusts and the incorporation of offshore partnership companies and limited liability companies.

A second citizenship can be yours through the support of professional licensed agents. In addition to offshore corporations, offshore trusts and shelf companies, second citizenships are beneficial in endless ways. Second citizenship is generally obtained after years of residency as a permanent resident but is also gained through economic investment programs designed to grant citizenship. Example of such dual nationality programs exist in Dominica economic citizenship. For further details on other asset protection tools such as offshore foundations, do not hesitate to click on the contact us page.

The banking services offered by offshore banking centers are offered only to non residents of the offshore jurisdiction. Banking services which are offered by offshore banking financial institutions include credit and debit cards, multi currency accounts, internet banking, wire transfers, bank drafts, banking via telephone and fax and other great banking services. Offshore banks are very respectable banking institutions with some of the world’s biggest and best banks offering offshore banking services. It is very easy to set up an offshore bank account in the offshore banking centers. The first step to setting up an offshore bank account is to find an offshore banking center and then find an offshore bank which provides good quality services. Offshore bank accounts can be set up for individuals and corporations. To open an offshore bank account the applicant must full out a detailed application form which is submitted to the offshore bank of choice along with the following; bank references, copy of picture ID (passport or driver’s license are acceptable), corporations must include the corporate documents, signatures for all persons who will have access to the offshore bank account and many offshore tax havens ask for a declaring of source of funds.

Offshore banking centers provide many advantages to offshore banking clients. There are no local taxes imposed on offshore bank accounts since incomes in offshore bank accounts are not earned on the offshore tax havens. Owners of offshore bank accounts will pay only offshore banking fee which are very low. Offshore banks provide privacy for clients of offshore banks. All information in offshore bank accounts is considered to be confidential and cannot be given out by bank employees and officials or the agent working on behalf the offshore bank account holder. Persons who give out offshore bank account information are liable to a monetary fine and or prison term. There are also stiff penalties for offshore banks which give out offshore bank account information without the consent of the offshore bank account holder. Offshore banking centers make it possible for clients to establish offshore bank accounts without going to the offshore tax haven. Clients can use offshore registered agents to establish offshore accounts in the offshore banking centers. To set up offshore bank accounts documents can be couriered or faxed to the offshore bank of choice.

Establishing an offshore bank account in one of many offshore banking centers which exist today has its advantages. Offshore bank accounts can be accessed from many different locations in the world.

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