Identity protection with corporate accounts - What am I missing?

[drillbill]

Please help me understand this. When applying for a corporate bank account, all real banks require that the 'beneficial owners' identify themselves with notarized copies of their ID documents.


This means that if a government agency contacted the bank, there is the potential for the bank to release your personal identity. However, since all transactions will be made in the name of the company, how would a government agency ever know which bank to contact if they had any suspicions about your personal tax liabilities?


They cant broadcast a message to all banks saying 'Anyone got an account registered to Joe Soap?'. This means that they would have to first find some link between you and a company. If we assume for the sake of this exercise that they cannot do this, can someone please explain what difference it makes where one chooses to open a corporate account?


If it doesn't make a difference, surely the best place would be the big financial centers such as London, HK, Singapore etc? - This doesn't seem to be the case considering that most threads talk about accounts in Cyprus and the Caribbean.

 

[gilmore]

Based on the standard setup you're correct, that all banks will require a signer on the checking account who need to provide ID and references for example. They also supply a signed and undated letter of resignation for our clients protection. Now, provided you duck certain Caribbean states you don't have to fret about banking privacy typically so long as.


No-one learns where your offshore account is. The best place for banking relies on here you live now and what you want to do. A large amount of what you see re banking has to do simple of opening.


Singapore is an example of that locations that 99% of the time you have to visit in real life to open an account.