An offshore account is by definition an account opened in a bank outside the country of residence of an account holder, in a territory considered a tax haven with extraterritorial privileges within the offshore bank country location.
An offshore bank account is not dedicated for the wealthy or tax evaders this type of financial service even being abroad operates in a similar way to a bank located in the county residence of the account holder with the same quality of services, it is therefore not a question of hiding money there or of carrying out hidden financial arrangements, but rather of benefiting from tax and legal advantages.
An offshore bank account unlike accounts held by an individual, the one held by a legal person (or company) does not have always to be declared, which is why some fraudsters hide behind an offshore company serving only as a screen.
Opening an offshore bank account can be also motivated by various reasons, most often professional and some countries allow the opening of a bank account to non-residents in order to attract foreign capital.
An offshore account opening process requirement reflects the same process as in “non-tax-havens countries”, the holder must provide proof of identity and residence (less than 3 months) and the cost of opening the account varies from a hundred to a few thousand US dollars per beneficiary; also depending on the banks, a minimum deposit may be required and in order to fight against tax evasion, many banks now ask the holder to physically present themselves when opening the account.
OVERSEAS BANK ACCOUNT OFFSHORE BANK ACCOUNT ANONYMOUS BANK ACCOUNT FOR US CITIZEN DECLARING AN ACCOUNT GERMANY FOR BRITISH CITIZEN FOR EXPATRIATE NO MINIMUM DEPOSIT FOR RETIREE FOR STUDENT IBAN NUMBER PANAMA LUXEMBOURG SWITZERLAND ANDORRA ANGUILLA ANTIGUA BAHAMAS ARUBA BAHRAIN BERMUDA VIRGING ISLANDS CAYMAN ISLANDS COOK ISLANDS CYPRUS DOMINICA GIBRALTAR GRENADA GUERNSEY ISLE OF MAN JERSEY MALTA MARSHALL ISLANDS MONTSERRAT NAURU CURAÇAO ST. KITTS & NEVIS NIUE SAMOA SAN MARINO SEYCHELLES ST. LUCIA ST. VINCENT GRENADINES TURKS CAICOS U.S VIRGIN ISLANDS VANUATU MAURITIUS AUSTRALIA SOUTH-AFRICA UK MONACO DUBAI BELIZE IRS LIECHTENSTEIN DISCLOSURE OF ACCOUNT LIST OFFSHORE BANKS FOR INDIVIDUAL FOR BUSINESS ONLINE ACCOUNT SINGAPORE LIST OF TAX HAVENS FOREX TRADING ACCOUNT BITCOIN OFFSHORE ACCOUNT IS IT LEGAL ? ADVANTAGES INCONVENIENTS LOAN AGAINST INHERITANCE TYPES OF ACCOUNTS COMPTE OFFSHORE COMPTE ANONYME POUR FRANÇAIS DÉCLARATION COMPTE ALLEMAGNE SINGAPOUR POUR SANS PAPIER EXPATRIÉ FRONTALIER RETRAITÉ ÉTUDIANT POUR FONCTIONNAIRE PANAMA POURQUOI OUVRIR UN COMPTE? EST-CE LÉGAL AVANTAGES INCONVÉNIENTS TYPES DE COMPTES LISTE DES PARADIS FISCAUX COMPTE FICP INTERDIT BANCAIRE AVEC POURSUITES POUR FICHÉ BNB COMPTE LUXEMBOURG SUISSE ANDORRE ÎLE MAURICE ESPAGNE ITALIE COMPTE BELGIQUE LIECHTENSTEIN COMPTE SANS RIBA LISTE DES BANQUES OFFSHORE PRÊT SUR HÉRITAGE COMPTE LONDRES POUR PARTICULIER POUR ENTREPRISE EN LIGNE POUR NON RÉSIDENT MONACO FRANCE POUR NON-RÉSIDENT