Where should I open an offshore bank account that has low fees, etc?

[electric]

Hello,


I am trying to figure out where to open a bank account that suites my needs. Based on this, I will open an IBC that owns the bank account. (ie: I am looking for recommendations on what country and what bank to use.)


My plan is to deposit my businesses earnings into the bank account, and then withdraw cash from my country of residence using a debit card associated with the account. Thus, the only *absolute* requirements of the bank account must be the following:


- Not high fees for every debit account usage (ie: I don't want to pay $25 fee every time I withdraw cash at an ATM.)


- The debit and credit card must not use my name. I don't care if it uses the company name, since the company will not be directly associated with me personally.


- The incoming/outgoing wire transfer fees must be reasonable.


- The monthly bank account maintenance fees should be reasonable.


What do you suggest? What is the best offshore bank for my needs?

 

[Zqq]

It depends on what you consider reasonable transfer and monthly fees.

 

[electric]

Reasonable in my opinion is something that is not tied to how much money is being transferred or stored at the bank. I've seen some banks that charge a % of incoming/outgoing wire fees, which I think is nothing more then outright theft.


I'm happy to pay a simple flat fee for wire transfers or monthly account maintenance... (as long as it's not super high)


Essentially, what I'm looking for is a bank account where I can use the debit card for day-to-day purchases that doesn't cost a fortune.

 

[Zqq]

You are asking for a lot here. I'd say you are going to have an extremely hard time finding such a bank.


The main problem is the anonymous cards. Such cards are quite rare and the banks I know that issue them charge quite high fees and/or are in regions you likely do not want to bank (Africa).


Quality banking comes at a price.


That said, you can get everything except the anonymous card from banks in Hong Kong and Singapore (DBS, OCBC, Hang Seng, HSBC). Fees there are generally lower than Europe and especially the Caribbean region.

 

[electric]

Do you know if it's possible to open an account at Hong Kong HSBC with a Belize or Seychelles company?

 

[Zqq]

Yes, it is.

 

[JohnLocke]

Not that you need to go with the banks listed here, /forum/f16/introduction-new-partnered-offshore-banks-read-more-here-if-interested-19707/ but it can at least give you an impression on requirements fees etc. or simplify your research a little.

 

[phohace]

Open offshore bank account in Singapore


Choose a stable destination like Singapore. Pro-business environment and tax-friendly for foreigners. Good place to park your money. The offshore account that allows you to access it from anywhere in the world for savings, trading and investment. It is easy to open an offshore bank account in Singapore without need to even enter Singapore.