Offhore bank - location matter?

[ofurin]

All the discussion of different offshore bank and location has made me a little confused. I have a company registered in USA and a business account with HSBC Malta. I would assume that is an "offshore" bank as I am not a resident of Malta. As I am going to register another offshore company in the Seychelles, I was thinking of opening another account also with HSBC Malta (it is much easier than going through the whole registration process with a new bank). Do you agree that the location of the offshore bank is mostly irrelevant?

 

[JohnLocke]

Do you agree that the location of the offshore bank is mostly irrelevant?

Well, it depends very much of what your Goals are, considering that you are an US citizen and the new FATCA tax law then I agree with you, otherwise if you were from another country I would disagree since many still can benefit from the banking secrecy for instant in Swiss and Cyprus.


In my opinion your right, go with HSBC Malta they know you and if they don't have issues with a Seychelles Corp. you may be perfectly fine.

 

[EliasIT]

If you are able to open a bank account with HSBC for your offshore company I have to agree with Admin.. go for it. You will not have the same level of privacy with such top world bank as with a little bank for instant in Cyprus or Swiss.