best offshore +banking options for trading in ASIAN

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Sols

Staff member
Mentor Group Gold
None of them, unless you are very wealthy, bringing a very large business, and/or have strong regional ties (customers, suppliers, staff in SG/HK region).

Banks in Singapore and Hong Kong have practically stopped onboarding offshore companies, unless you are a very valuable client.

Of the classic offshore jurisdictions, BVI tends to be preferred. So if you have a way in with a bank, BVI might be viewed slightly more favorably than others.

Best would be to show up with an Asian company of some sort, especially if you're trading in Asia.
 

medusa

New member
None of them, unless you are very wealthy, bringing a very large business, and/or have strong regional ties (customers, suppliers, staff in SG/HK region).

Banks in Singapore and Hong Kong have practically stopped onboarding offshore companies, unless you are a very valuable client.

Of the classic offshore jurisdictions, BVI tends to be preferred. So if you have a way in with a bank, BVI might be viewed slightly more favorably than others.

Best would be to show up with an Asian company of some sort, especially if you're trading in Asia.
Thank you.
I live in ASIAN not Singapore/HK, my Supplier/Clients are in China, India, Korea, ASIAN
Can you recommend BVI + other banks or other jurisdictions +banks?
 

Sols

Staff member
Mentor Group Gold
Can you recommend BVI + other banks or other jurisdictions +banks?
Speak with Asiaciti, Vistra, and OCRA. They are some of the biggest service providers with good networks across Asia. Explain the full details of your situation and they will be able to tell you what your chances of success are with a BVI (or other offshore) company.

They might recommend HK or Singapore company, which could be owned by a BVI company. It depends on the exact details of your business.

I've seen some cases where banks have been more accepting of Cook Islands and Samoa, since they are geographically closer. IIRC, both Vistra and Asiaciti can help with those jurisdictions.
 

Fred

Dubai Expat
Mentor Group Gold
Elite Member
Commercial Service
Entrepreneur
None of them, unless you are very wealthy, bringing a very large business, and/or have strong regional ties (customers, suppliers, staff in SG/HK region).

Banks in Singapore and Hong Kong have practically stopped onboarding offshore companies, unless you are a very valuable client.

Of the classic offshore jurisdictions, BVI tends to be preferred. So if you have a way in with a bank, BVI might be viewed slightly more favorably than others.

Best would be to show up with an Asian company of some sort, especially if you're trading in Asia.
That's it.

Just to give you an indication - we have some clients they went with OCBC in SIngapore with there FZCO and UAE Residence Visa so with 100% Residence Case - they received after 3-6 months compliance the Business Bank Account by exception because they were already for years Private Banking Clients.

So in theory it's still possible but what you have to bring to the table is a strong nexus to HK or SG and if you don't have one the connection to the bank needs to be existing and they really need to value as a client.

That's why I promote the Dubai Company Setup all the time as you get through the Dubai Company Formation the Residence Visa which is again your nexus to the UAE and based on this the UAE Banks open Business Bank Accounts.

That's all not existing with BVI/Seychelles/Belize.

Don't understand anyway why someone opts in 2022 for Belize or Seychelles - Belize has accounting requirements and wants to tax you , Seychelles wants you to submit 2x times per year accounting as well.

BVI gets public company register starting 2023.


I mean if you are looking in outdated old school offshore locations then at least look in jurisdictions where you still get 0% tax, no audit and no accounting requirements like in Samoa and Nevis but again banking anywhere?

If you go careful thorugh all this and you need to get the structure banked you will come all the time to the conclusion you get currently the best output in Dubai.
 

uplana

Corporate Services
Mentor Group Gold
Advise, go with @Fred and let him help you to setup a valid and strong long lasting offshore company setup. It make good sense to go with some of the guys we know can help you.
 
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