Getting a bank account offshore?

Discussion in 'Welcome to the Offshore Company Forum' started by jessccw, Jan 10, 2013.

  1. jessccw

    jessccw Offshore Agent


    I have some questions I was wondering if anyone knows about:

    In some threads, it is suggested we get a bank account in the location we incorporate instead of where we're based. Anyone know why is that? And what place is ideal for such an account? Also, what is the difference between personal and corporate account if it's for a business?

    Do you suggest incorrporating different companies for different businesses? My guess is that it depends on what are the different businesses, is that right?

    Are there any issues with using order/product fulfillment services in the U.S if we're offshore? I'm from Hong Kong though so not sure if that makes a difference...

    Thanks guys & ladies.
  2. Zqq

    Zqq I'm a professional Business Angel

    If you live in a high-tax and tax-aggressive country, it is often preferred to keep money in more lenient jurisdictions. Since you live in Hong Kong, there is almost no benefit to going offshore. If you want privacy, you can set up an offshore company to act as director or shareholder of your Hong Kong company.

    There is no ideal place; no easy answer to this. It depends on your needs and requirements.

    A business does not use personal accounts.

    Yes, but it's usually not required.

    As long as you can find suppliers in the US that are willing to deal with an offshore company, it's not a problem. I would highly recommend a Hong Kong or Singapore private limited company instead of an IBC. Hong Kong and Singapore are highly reputable and respected jurisdictions.
    auric likes this.
  3. nelsonhimes

    nelsonhimes Corporate Services Business Angel

    I was too searching out for the answer of the similar question. Very well answered to each of the points.
    auric likes this.
  4. JamesCarrew

    JamesCarrew Offshore Agent

    bump. Helped me as well
  5. Avalon^Darko

    Avalon^Darko New Member


    i do have a question if my offshore company is in the seychell,s or deleware of even in panama, cook island

    can the bank account for the credit card be anywhere in the world and offcurse the credit card,s name would be

    the offshore comany,s name like for examle lotusoversea corp would that be the name and the owner of the credit
    card offcurse i would be the shadow person behind the company so i would be protected is that right
  6. auric

    auric Offshore Agent Mentor Group Sponsor Business Angel

    How would that work? a credit card is always connected to the bank account you open?!

    Usually it is the company's name that is printed on the card.