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Bahamas Offshore Bank Account For US Citizens

Admin

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It is a proven fact that US citizens on the whole have a lot less money in offshore bank accounts as compared to citizens of many other countries in the world. For American corporation that are multinational, it is still rather easy to a bunch of offshore banking options, but for an individual it is still an uphill task, owing mostly to the tight grip of big brother IRS and the strict regulation that they have put in place and the implementation of the new Foreign Account Tax Compliance Act is just going to make things worse.

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Even foreign banks are forced to sing to IRS’ tunes with virtually every bank on the planet being forced to sign some fort of an information sharing agreement with the government agency. Failing to do so often results in severe taxation in funds that are sourced and generated through the US.

The problem is so severe that many foreign offshore banking institutions have simply stopped taking applications from US citizens and would rather not deal with the American authorities, banks in Panama and Cayman Islands being at the forefront of this.

How then does an American citizen go about opening an offshore banking account? After all ensuring the safety of your savings is important.

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Bahamas- the prime location for your offshore banking needs.
A couple of factors make Bahamas the ideal destination for Americans who want offshore banking. The first reason is the location of the islands. A hop, skip and jump will take you to the islands or more precisely, a 51 minute flight from Miami to Nassau. For people who want to ensure the safety of their funds in person, this is an ideal option. While most banks in Bahamas will offer the option of online banking as well as getting things done on the phone, it is at times good to be able to do it in person. The proximity of the islands to the US makes this a perfect location.

Besides the economy of the country is largely dependent on tourism from the US and as a result the country is very American friendly and the country as a whole has big ties with the US. This means that you will not have to deal with a completely different culture or struggle to understand a whole new language.

Bahamas on the whole is a developing nation with a rather stable economy where predictably, the tourism sector as well the offshore banking industry are the main earners for the country. Needless to say, the Bahamians take these things very seriously and strive to provide the most stable experience for the customer.

There are plenty of banks in Bahamas for you to choose from and a majority of them provide rather lucrative options for customers. Setting up accounts is easy and so is working with money, whether you are depositing or withdrawing funds. Given the ease and the variety of options, it is difficult to see an option better than banks in the Bahamas for US citizens to open offshore accounts in.
 

icecold

Active Member
Great work Admin as usual. I don't doubt that US citizens have accounts in the Bahamas and that it even may be easy for them to get an account in the Bahamas. But I doubt they have it because they want an offshore account somewhere. It is more like they want securing their funds in different banks.
 

dirtyharry

Mentor Group Gold
Thanks for the share indeed. What do you think will be the best if you almost have a Cyprus company registered and doing business in Europe. Can a Cyprus company open an bank account in the Bahamas? Do you know that maybe.
 

bonzo

Offshore Agent
One of the great banks in the Bahamas for offshore accounts is this one Offshore banking in the Bahamas | Safe and secure offshore banking | Deltec Bank a good friend of mine is using them atm. and has nothing bad to say about them so far. What I consider is to create a offshore company maybe in the Bahamas to open an offshore business bank account there and test how stable the bank is and what support level they offer.
 

SasxInc

Active Member
One of the great banks in the Bahamas for offshore accounts is this one Offshore banking in the Bahamas | Safe and secure offshore banking | Deltec Bank a good friend of mine is using them atm. and has nothing bad to say about them so far. What I consider is to create a offshore company maybe in the Bahamas to open an offshore business bank account there and test how stable the bank is and what support level they offer.
That's the nice recommendation and good tips as well as. Thanks bonzo. Will give a try finishing my Cyprus project.
 

fireserve

Super Moderator
Business Angel
One of the great banks in the Bahamas for offshore accounts is this one Offshore banking in the Bahamas | Safe and secure offshore banking | Deltec Bank a good friend of mine is using them atm. and has nothing bad to say about them so far. What I consider is to create a offshore company maybe in the Bahamas to open an offshore business bank account there and test how stable the bank is and what support level they offer.
Thanks will have a look at them and even approach them during the next days to ask if they accept foreigners and even offshore corps.
 

deadpool

Active Member
It is a proven fact that US citizens on the whole have a lot less money in offshore bank accounts as compared to citizens of many other countries in the world.
This is the most overlooked fact in offshore domain. For fact, Indians have high percent of concealed stash across border.
 

vitomerchant

Offshore Agent
I bet most Us citizens have an account in the Bahamas if they are business people. The average person don't, because why should they!
 

londonfalls

New member
Do you think that it's a viable solution to bank in Bahamas for US citizens? If so why shouldn't it be for foreigners from Spain or Greece?
 

GoGoldPro

New member
The USA may be the country of unlimited opportunities but it is also limiting their citizens from total freedom. I think Bahamas banking for US citizens are popular because that's one of the only jurisdictions where it may be legit for them to open an offshore account!
 

happyjohn

Corporate Services
Mentor Group Gold
Business Angel
Entrepreneur
US Citizens so other foreigners may have a good reason to bank in the Bahamas!
 

RamsayB

Active Member
I'm very happy that I came across with this abundant piece of information. Some part of me wished that I was born to be a US citizen.
 
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