Why not close the offshore company after the bank account is created?

[electric]

Hello,


Do I really need to keep the offshore company active once I have the offshore corporate bank account and merchant account established?


My business is 100% virtual, and my customers don't care where my company is located or even if there is a company at all. They only care about:

1. That they receive the service they are paying for. (Website hosting)
   
2. That they can easily pay for the service. (Which is why I need a decent offshore merchant account.)
   

I am not worried about liability issues or things like that. So basically, the only reason I need an offshore company is so that I can get an offshore corporate bank account and an offshore merchant account.


Once I have those... why not just wind down and close the offshore company? What would be the risk? Is the bank or merchant account provider really going to periodically check the company registry to see if the company is still properly registered and alive?


For example, I've had an onshore bank account and merchant account for 15+ years and neither them have ever contacted the "owning" company. Ever.


What do you think?

 

[JohnLocke]

Well if you don't do so and the bank ask for a Certificate of good standing which you in this case will be unable to provide, the bank will shut down the bank account and merchant account. You may learn about what you are doing before you incorporate a company anywhere, a company is a legal entity, so literally what you consider (ask for) is to remove the contracting partner for the banks without letting them know.

 

[Zqq]

Many banks do repeat due diligence (often annual) or spot checks. If you fail to prove that your company is in good standing and still exists, you're lucky if you ever see your money again.


What's a few hundred EUR/USD per year compared to risking losing your all of your company's funds?