Turner Little - Company Formation Agents & Banking Intermediaries.Chat to a member of our sales team.
Offshore Company Formation and Management Services
Mentor Group

Is Opening My Own Offshore Account Illegal?

vitomerchant

Offshore Agent
I never thought about it before I read all this here. It's not illegal to have an offshore account as far as I know.
 

taxman

New member
6. Allows you access to foreign medical care
In the event you cannot procure medical care in your country, having foreign accounts affords you access to medical assistance abroad.
This could actually be one of the major reasons for expats or people in 3rd world to open an offshore account with one of the major banks in the world.
 

zohoman

New member
A friend of mine told me that when I'm going and setup an offshore company with bank account it is illegal and I will risk prison or at least high penalty. But you say no it's not the case. What shall I believe?
 

deadpool

Active Member
A friend of mine told me that when I'm going and setup an offshore company with bank account it is illegal and I will risk prison or at least high penalty. But you say no it's not the case. What shall I believe?
Like I said before in some threads, offshore banking has its place in legal structure. There are legitimate purposes associated with it.
 

happyjohn

Corporate Services
Mentor Group Gold
Business Angel
Entrepreneur
It has never been illegal to own a offshore bank account, only to withdraw Money without to inform your tax office about it!
 

RamsayB

Active Member
It has never been illegal to own a offshore bank account, only to withdraw Money without to inform your tax office about it!
This is something new to me. I didn't know that withdrawing money from the offshore bank account was illegal if you don't inform the tax office first. Thank you for the information
 

negon

hannibal the cannibal
BANNED MEMBER
No it is not illegal as many already have said and as this initial post already explain. You can have as many offshore companies and offshore bank accounts as you like just make sure you inform your local tax office about it if you want to stay legal ;)
 

lostguy

Active Member
No it is not illegal as many already have said and as this initial post already explain. You can have as many offshore companies and offshore bank accounts as you like just make sure you inform your local tax office about it if you want to stay legal ;)
If you don't do, make sure you don't have your own name on any of the documents. Use an dead south american from Mexico or Brazil!
 

dirtyharry

Mentor Group Gold
Any suggestion to what bank is the best or better what country is best for offshore baking?
 

ImKing

Corporate Services
Entrepreneur
If you setup some e-wallet to protect your offshore account to be recognized by local banks you get a pretty good anonymous banking setup which isn't illegal I believe ;)
 

bonox

Corporate Services
Silver Member
Business Angel
Despite the fact it is not illegal I would use some anonymous setup where I at least use VPN / VPS to setup my offshore account. I would also not open a personal account but only open a business account.
 
Mentor Group

Latest Threads

Mentor Group
Top