In Samoa, an offshore bank account for non-resident in 2024 is defined by a banking solution that includes offshore services offered by a Samoan bank that is specialized in serving companies and individuals who have no domicile in the Samoan island.
In Samoa, the offshore bank account for non-resident objectives is to give a kind of haven to protect wealth and assets of private persons and corporate entities, however Samoa is not a tax heaven in a negative context following the international harmonization in terms of avoidance of tax evasion and money laundering making the Samoan banks being more severe in terms of due diligence towards new account holders.
In Samoa, an overseas bank account for non-resident is dedicated to cover the transactional needs of two types of companies that can be setup as imposed by the Samoan regulator (SIFA): International Company (IC) and Limited Life Company (LLC), to make able foreign investors to exploit the advantages of offshore business.
In Samoa, the offshore bank account for non-resident comes along with a specific Samoan tax scheme for people who are not residing in the island that is amounting 15 % that is applicable per case by case basis depending on the corporate status of the Samoan offshore bank account.
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