OVERSEAS BANK ACCOUNT FOR NON RESIDENT

OVERSEAS BANK ACCOUNT FOR NON RESIDENT

INTERNATIONAL BANK ACCOUNT OVERSEAS BANK ACCOUNT FOR NON RESIDENT OPENING A BANK ACCOUNT ABROAD WITH A FOREIGN BANK FOR NON RESIDENT

An overseas bank account for non-resident is by definition as a money deposit service made available by a foreign bank located outside the country of its holder and which will allow him to carry out banking operations.

The overseas bank account for non-residents is a banking service accessible by a person or a company who is not based in the country of the foreign bank, in accordance with the regulatory definition of the country in terms of residence.

The international bank account abroad without residing there is justified by many reasons for people who wish to have access to bank services outside their country of usual residence, such as reducing bank charges and bank card fees, but also in the context of an acquisition of real estate or is part of other types of investment in the country.

A bank account abroad for non-residents is often easy to open with an international bank outside the country where they live, by just proving with a passport and plausible justification for opening this account.

A bank account abroad has the particularity that it can constitute a financial refuge for a person who wishes in addition to bank accounts in his country to open one abroad.

The overseas bank account does not consist solely of a so-called offshore account which for one reason or another benefits its holder from foreign legislation to achieve a reduction in taxes or duties, which is sometimes tantamount to evasion taxation when it comes to tax havens.

The foreign bank account abroad, which in the past was a discreet way for companies and private individuals to hide their financial transactions, nowadays faces challenges of another dimension.

An account abroad today faces two main obstacles: that of the tax authorities and the fight against money laundering linked to criminal or terrorist activities.

Opening a bank account abroad is therefore suspicious, especially when it comes to bank accounts in exotic places called tax havens.

Despite recent scandals that have exposed complex tax evasion and money laundering structures like the Panama Papers to the investigative press, so-called offshore banks are still active for the benefit of individuals and creative businesses who consider their activities as tax optimization.

OVERSEAS BANK ACCOUNT SOLUTIONS

UK

IRS