bank account forced closure

[Chimaera]

Hi, My bank has given me 30 days to close accounts in an offshore company name. They will only transfer the money to another bank with the same company name. The problem is its taking me longer than 30 days to get the new bank account opened. What will happen after the 30 days will they try to confiscate the funds in the accounts?

 

[JackAlabama]

Hi, My bank has given me 30 days to close accounts in an offshore company name. They will only transfer the money to another bank with the same company name. The problem is its taking me longer than 30 days to get the new bank account opened. What will happen after the 30 days will they try to confiscate the funds in the accounts?

No, that does not happen normally.
A common way of doing this is they close your account and send you a bank cheque with the remaining balance at the registered address and tell you nicely that you can cash this check at any other bank.

In reality tho, your chance of successfully cashing such a cheque are slim to none.

Convince them to send the balance to the major shareholder/director. You have more chances if your company is more like your one person shop.

 

[JohnnyDoe]

Always have a backup ready, since this situation happens all the times. And a good lawyer on call.