Offshore company with bearer shares, possible and useful?

[Propeller]

A Offshore company formation with bearer shares can it be used for the opening of a bank account or is it a no go?


Read here and there that bearer shares are the ultimate protection in regards to revealing the beneficial owners of a company, on the other hand it is also impossible to open a bank account with the bearer shares offshore company.

 

[SysOp]

It is difficult to answer this question and it defiantly depends on who the agency is which will register the company for you, when you have a offshore company registered for bearer shares and you want to open a bank account the bank often requires you to sign on behalf of the company or in most cases, refuse to open a offshore business bank account at all.


You will need some agency which have references in the bank and which has a legal department on hand which can help to convince the bank to open the account.


There are many ways to have the bank account opened even if it is with bearer shares, so don't worry about that.