Best offshore bank with low fees and easy to open account with?

[curious]

What is the best offshore bank to open a bank account with and has low fees and is easy to open accoutn with?


Anonymity is not a requirement just easy to open will be fine.


OH..need multi currency account EUR,USD,GBP

 

[boblink]

I hold a Cyprus bank account for a little year and it has been working perfectly great for me. Also I hold an account with HSBC and Barclays in the UK they are cheaper and better but they don't offer any privacy

 

[JohnLocke]

Cyprus may be the best banking option if privacy is a requirement but you still want the account to be in Europe (Cyprus is part of the European Union). The banks in Cyprus have some great Internet Banking and one can handle all day to day banking online including Wire Transfers.


Of course the banks in Cyprus have own IBAN Account numbers and Swift codes.

 

[cyborg]

Are cyprus banks as good as for instant HSBC or Barclays?


Can I send a Wire Transfer directly from within the Internet banking?

 

[conspole]

I heard that the Cyprus banks are more expensive compared to HSBC and Barclays but don't know? I'm on the search for a offshore bank account as well.

 

[JohnLocke]

Are cyprus banks as good as for instant HSBC or Barclays?
Can I send a Wire Transfer directly from within the Internet banking?

The Cyprus banks are as good as the mentioned banks, however, they are of course smaller and for that reason there is always a higher risk. So far they got perfectly fine through the Financial crises and no one has to worry.


Yes you can issue Wire Transfers directly from the Internet Banking interface, no need to call or fax the bank for such.

 

[JohnLocke]

I heard that the Cyprus banks are more expensive compared to HSBC and Barclays but don't know? I'm on the search for a offshore bank account as well.

Sure they are, but most people who are going to open a bank account in Cyprus are doing this for privacy reasons or because they can't open a real bank account anywhere else.

 

[conspole]

Will a personal bank account offer the same protection as a corporate account in Cyprus? I'm still not not certain that what the best is.

 

[JohnLocke]

No a personal bank account will not offer the same level of privacy as a Corporate bank account. If you want full protection even as an EU citizens you need a non EU entity to open the Cyprus bank account, that will offer maximal privacy protection. A Seychelles company is such an entity.

 

[EWGI]

I want a great bank too


Like others on this thread I am also looking for the best bank to use in conjunctions with an offshore corporation. Anonymity is very important to me though.


I am very curious about why combinations are not talked about more often. For example, I hear good things about Belize for Americans. I contacted a consultant about this and was quoted a reasonable price for the formation of a corporation. Also they told me that I could form the company and choose a bank later.


When I inquired about the banks they recommend/work with, I was quoted two banks that both had insanely high fees. The fee for a wire transfer was so high that it may even be cheaper to send money Western Union.


So back to the drawing board. But as far as choosing a bank in one jurisdiction and incorporating in a different one, these are completely different things. My nationality becomes an issue, the country where I work becomes an issue ( I think ) and my wife's nationality will also be an issue.


A client that I respect said that in his business career he has made some mistakes that involved being cheap at the wrong times- one time with an accountant and once with a lawyer. If I believe this logic, where can I find a lawyer who is an expert on overseas banking and incorporation?


I am a relatively small company but growth is very strong and this is a preemptive move. As we see our potential tax liability climb- an issue that was very important when we were smaller- tax has moved front and center. As we consider buying properties, again- more complications, more questions about jurisdictions that suit our needs, and still more banking questions.


My guess is that these questions are not uncommon here- can anyone relate an experience in which an attorney or other consultant helped them solve their issues and after a year or two or more, they grow more confident than ever in their choice?

 

[JohnLocke]

Welcome aboard :welcome: I hope you enjoy.


Maybe you could headline what requirements you may have to the offshore bank account (if required, as well offshore company) and where you are located?


Most often it isn't that difficult to figure out what may work for certain people in certain situations.

 

[curious]

The reasons for the high fees are the bank knows why foreign customers are opening a bank account with them I think.