Setting-Up an Offshore Bank Account, Opening a Bank Account in Cyprus, Belize, BVI or Seychelles
. You can open a bank account in Cyprus whether you're a resident or a non-resident. The documents required to open a bank account in Cyprus will include; bank application form, signature cards, certified copy of a picture ID, references on the signatories (bank and employer or professional), verification of residential address (utility bill, credit card statement). Along with these documents and certified copies of your incorporation documents sent to the bank will usually be enough to have the account opened. Minor variations will occur depending on the choice of bank. We will inform you of the exact requirements. All the banks that we represent provide internet banking, wire transfers and debit cards. The accounts can also be operated via phone or fax. You are free to choose how your savings account should be maintained in USD, EUR, CHF, and GBP, JPY or any other hard currency.
Open a bank account in Belize. Belize has got a long tradition of opening offshore bank accounts. Belize is well known for the quality of offshore banking services. Currently, the local banks became harder to approach. Hopefully, we work with the largest banks in the Islands to open your personal bank account, corporate bank account with a dedicated support from the director of the bank. For handling with your bank account, we charge a one time set-up fee. No hidden fee unless local rules change.
Open a bank account in Seychelles. The most prominent commercial bank operating in Seychelles is Barclays Bank. To open a corporate account for an offshore company, all reputable banks will require detailed personal and business information from the owners and controllers of the offshore account. In particular, the bank will need to know the actual beneficial owners of the offshore company. All such persons, as well as everyone who will be granted account signatory rights will have to be properly identified and will have to provide a number of documents - such as a certified passport copy, a bankers reference, a detailed business description and a forecast of the expected cash flows.
Choose one of the following packages that will best serve you:
Further information
Simply defined, an offshore bank account is an account held in a bank that is located outside your country of residence. Usually such an account is located in a low tax jurisdiction and offers certain financial and/or legal benefits to the holder of the account. Generally speaking anyone is free to open an offshore bank account. In fact, offshore banking has been widely used for many years by both individuals and organisations worldwide. There is no definitive answer to this question as every individual’s circumstances are unique, and there are so many different types of account available in so many different locations in the world, and each offers the individual customer different features and benefits! But if you’re an expatriate living and working overseas for example, offshore banking could have tax benefits for you, as interest on your offshore account could be paid without tax being deducted.
And if you were to transfer your current savings and investments offshore as well you may be in a position to further reduce your tax liability in your home country. Certain countries in the world require their residents to declare their worldwide income. Tax is then payable on the income - the UK and the US are two such countries. Most countries have no restrictions on where your business interests, investments or bank accounts are located; it is simply your responsibility to report any income you earn to the appropriate tax authority. If you are not resident in a country that has reporting requirements you may not have to declare any income you earn. You are best advised to speak in confidence to an international accountant or financial adviser with an understanding of all things offshore to determine your obligations.
When it comes to the declaration of assets held and savings income generated, the EU Savings Tax Directive 2005 may limit the amount of privacy you are afforded if you bank or reside in one of the countries affected by the directive. These countries are: - Andorra, Anguilla, Aruba, Austria, Belgium, British Virgin Islands, Cayman Islands, Channel Islands, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Isle of Man, Italy, Latvia, Lichtenstein, Lithuania, Luxembourg, Malta, Monaco, Montserrat, Netherlands, Netherlands Antilles, Poland, Portugal, San Marino, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turks & Caicos and UK. Simply put, the EU Savings Tax Directive 2005 is an agreement between the EU Member States to automatically exchange information about any customers who earn savings income in one EU State but who reside in another EU State.
This is known as the automatic exchange of information option and it is the ultimate objective of the Directive.
Beware of companies offering to open so called anonymous offshore bank accounts. There is no such thing these days, and you are likely to have your bank account stripped of its funds. The way anonymous bank accounts operate is that, unknown to you, the actual signatory on the account is someone else. You can access the account online or through code words, etc. but others control the account. When your anonymous bank account has significant funds, they are stripped from the account. Worse, since the bank has no record of you owning the money in the bank account, you have no recourse to recover your funds. Similarly, there are no true numbered offshore bank accounts. Many banks issue numbered accounts, but what they mean is that, after the signatory on the bank account provides full identification, the bank issues a number for the signatory to use.
The name of the account holder is then known only to senior bank officials who have access to the signatory's identification. The problem, however, is that the person who is provided the number to use the bank account may not be the true owner of the account (i.e. the person whose identification the bank has on record), and again the account can be stripped at any time. Coddan can assist in opening bank accounts at any financial institution of your choosing. With 13 years experience in the offshore banking industry we are able to advise on which offshore banks may be appropriate for your offshore bank account and which ones we advise against. We also offer a list of reputable offshore banking institutions with which we have held long standing relationships and in which we have placed many client accounts.
Offshore banking is offered in the Caribbean, Latin America, Asia-Pacific Region and Europe.
There is no point in opening a bank account offshore if it is going to be of no use to you! So you need to understand some of the general advantages of banking offshore. Depending on an individual account holder’s personal circumstances it’s possible to reduce tax liability, increase wealth potential and maximise privacy with the use of an offshore bank account. Further advantages for an expatriate or internationally focused individual are the flexibility, ease of access and global reach that an offshore bank account may provide. Other general benefits may include asset protection, estate planning, better interest rates and the chance to exploit active business interests overseas. At this point it’s essential to point out that each individual’s circumstances are unique and a person should seek personalised professional advice before venturing into the offshore world.
This article does not constitute direct personal advice.
There are so many offshore banking providers offering a wide variety of account type and they are located in low to no tax jurisdictions worldwide so how do you choose which country to bank in? Again, depending on an account holder’s personal circumstances certain offshore jurisdictions will present themselves as being more favourable. Jurisdictions range in quality from highly regulated, politically and economically stable centres like the Isle of Man, Jersey and Guernsey to high risk jurisdictions that few would recommend! Remember that an offshore centre that is suitable for an American expatriate might not be so suitable for an English international investor! Consider your circumstances, your country of residence, country of domicile and any reporting restrictions placed upon you.
Further examine the reporting requirements of any jurisdiction that you’re interested in.
Nowadays you neither have to visit the offshore jurisdiction in which you wish to bank, nor do you have to travel to the country for the continuance of your banking activity and account maintenance. Depending on the jurisdiction you favour, the provider and account type you have selected you will be required to submit certain paperwork, forms of verified ID and deposit funds. The majority of legitimate offshore banking organisations will also allow customers to conduct all ongoing banking activity via the internet, e-mail, post, fax or telephone. With many providers now offering full credit and debit card services as well you will also have easy and direct access to your funds at all times.
In order for us to open a bank account for the company or partnership we will need the following items:
Drivers License and Passport, with photo also please list address of record.
Utility Bills issued within the last three months with the applicant’s current address.
Business card with name and title of principal signer.
Detailed description of business type - nature of business.
List location of primary trading area.
Certificate of Incorporation and Certificate of Good Standing.
The opening of a UK business bank account will require all directors to be present, thus reasonable notice must be given in order for meetings to be arranged. Once the procedure commences at the bank it will only take approximately one hour until completion, your account will then be activated during that same day.
USA Bank Account
£ 400.00
In order for us to open a bank account for the company or partnership we will need the following items:
Copy of Drivers License.
Social Security Number of all signers (US Citizens).
Copy of Passport, with photo also please list address of record.
Email address, website address.
Certified Copy of the Certificate of Incorporation.
Copy of By-laws (Operating Agreement or Partnership Agreement).
Copy of company business card with name and title of principal signer.
Detailed description of business type - nature of business.
List location of primary trading area.
Certificate of Good Standing.
BVI Bank Account
£ 400.00
In order for us to open a bank account for the company or partnership we will need the following items:
Drivers License and Passport, with photo also please list address of record.
Utility Bills issued within the last three months with the applicant’s current address.
Business card with name and title of principal signer.
Detailed description of business type - nature of business.
List location of primary trading area.
Signed local bank reference letter from Officer of your current bank - translated in English.
Local professional reference letter from your Accountant - translated in English.
Certified and Apostilled Copy of Certificate of Incorporation, Memorandum and Articles of Association, and Certificate of Good Standing.
You never actually have to visit your offshore bank. You can simply bank from wherever in the world you live, via Internet, e-mail, post or telephone.
Belize Bank Account
£ 400.00
In order for us to open a bank account for the company or partnership we will need the following items:
Drivers License and Passport, with photo also please list address of record.
Utility Bills issued within the last three months with the applicant’s current address.
Business card with name and title of principal signer.
Detailed description of business type - nature of business.
List location of primary trading area.
Signed local bank reference letter from Officer of your current bank - translated in English.
Local professional reference letter from your Accountant - translated in English.
Certified and Apostilled Copy of Certificate of Incorporation, Memorandum and Articles of Association, and Certificate of Good Standing.
You never actually have to visit your offshore bank. You can simply bank from wherever in the world you live, via Internet, e-mail, post or telephone.
Cyprus Bank Account
£ 600.00
In order for us to open a bank account for the company or partnership we will need the following items:
Drivers License and Passport, with photo also please list address of record.
Utility Bills issued within the last three months with the applicant’s current address.
Business card with name and title of principal signer.
Detailed description of business type - nature of business.
List location of primary trading area.
Signed local bank reference letter from Officer of your current bank - translated in English.
Local professional reference letter from your Accountant - translated in English.
Certified and Apostilled Copy of Certificate of Incorporation, Memorandum and Articles of Association, and Certificate of Good Standing.
You never actually have to visit your offshore bank. You can simply bank from wherever in the world you live, via Internet, e-mail, post or telephone.
Gibraltar Bank Account
£ 400.00
In order for us to open a bank account for the company or partnership we will need the following items:
Drivers License and Passport, with photo also please list address of record.
Utility Bills issued within the last three months with the applicant’s current address.
Business card with name and title of principal signer.
Detailed description of business type - nature of business.
List location of primary trading area.
Signed local bank reference letter from Officer of your current bank - translated in English.
Local professional reference letter from your Accountant - translated in English.
Certified and Apostilled Copy of Certificate of Incorporation, Memorandum and Articles of Association, and Certificate of Good Standing.
You never actually have to visit your offshore bank. You can simply bank from wherever in the world you live, via Internet, e-mail, post or telephone.
Hong Kong Bank Account
£ 400.00
In order for us to open a bank account for the company or partnership we will need the following items:
Drivers License and Passport, with photo also please list address of record.
Utility Bills issued within the last three months with the applicant’s current address.
Business card with name and title of principal signer.
Detailed description of business type - nature of business.
List location of primary trading area.
Signed local bank reference letter from Officer of your current bank - translated in English.
Local professional reference letter from your Accountant - translated in English.
Certified and Apostilled Copy of Certificate of Incorporation, Memorandum and Articles of Association, and Certificate of Good Standing.
You never actually have to visit your offshore bank. You can simply bank from wherever in the world you live, via Internet, e-mail, post or telephone.
Nevis Bank Account
£ 400.00
In order for us to open a bank account for the company or partnership we will need the following items:
Drivers License and Passport, with photo also please list address of record.
Utility Bills issued within the last three months with the applicant’s current address.
Business card with name and title of principal signer.
Detailed description of business type - nature of business.
List location of primary trading area.
Signed local bank reference letter from Officer of your current bank - translated in English.
Local professional reference letter from your Accountant - translated in English.
Certified and Apostilled Copy of Certificate of Incorporation, Memorandum and Articles of Association, and Certificate of Good Standing.
You never actually have to visit your offshore bank. You can simply bank from wherever in the world you live, via Internet, e-mail, post or telephone.
Panama Bank Account
£ 400.00
In order for us to open a bank account for the company or partnership we will need the following items:
Drivers License and Passport, with photo also please list address of record.
Utility Bills issued within the last three months with the applicant’s current address.
Business card with name and title of principal signer.
Detailed description of business type - nature of business.
List location of primary trading area.
Signed local bank reference letter from Officer of your current bank - translated in English.
Local professional reference letter from your Accountant - translated in English.
Certified and Apostilled Copy of Certificate of Incorporation, Memorandum and Articles of Association, and Certificate of Good Standing.
You never actually have to visit your offshore bank. You can simply bank from wherever in the world you live, via Internet, e-mail, post or telephone.
Seychelles Bank Account
£ 400.00
In order for us to open a bank account for the company or partnership we will need the following items:
Drivers License and Passport, with photo also please list address of record.
Utility Bills issued within the last three months with the applicant’s current address.
Business card with name and title of principal signer.
Detailed description of business type - nature of business.
List location of primary trading area.
Signed local bank reference letter from Officer of your current bank - translated in English.
Local professional reference letter from your Accountant - translated in English.
Certified and Apostilled Copy of Certificate of Incorporation, Memorandum and Articles of Association, and Certificate of Good Standing.
You never actually have to visit your offshore bank. You can simply bank from wherever in the world you live, via Internet, e-mail, post or telephone.
Lithuania Bank Account
£ 200.00
In order for us to open a bank account for the company or partnership we will need the following items:
Drivers License and Passport, with photo also please list address of record.
Detailed description of business type - nature of business.
List location of primary trading area.
Certified and Apostilled Copy of Certificate of Incorporation, Memorandum and Articles of Association, and Certificate of Good Standing.
You never actually have to visit your offshore bank. You can simply bank from wherever in the world you live, via Internet, e-mail, post or telephone.
DEAR VISITORS, If you want to become familiar with the description and the contents of banking accounts packages, offered by our company and to find above, what kind of service is included in this or that banking account package, and about the general legal requirements to the banking account within foreign countries, please, select the package you need from the list, situated below the banner. The information in the banner will be renewed according to the package you've chosen. Credit cards are the preferred method of payment; we accept VISA, MasterCard and Delta. We can accept payment in UK Pounds Sterling, US Dollars, Euros, Australian Dollars and Canadian Dollars.
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ESTABLISH AN OFFSHORE BANK ACCOUNT
We are able to assist you in the opening of an offshore account for your IBC offshore Banks in Seychelles, BVI, Panama, Belize for commercial and investment purposes. The bank offers to its clients' multicurrency offshore accounts, with secure on-line operation facilities, Cirrus/maestro debit cards and credit Master Card, etc. Initial deposit for the account activation is USD$500.00.
Offshore account application requires the following documents to be presented: Certified copy of all charter documents of the company; A Resolution of the board of directors which appoints the Bankers; Completed application forms for the offshore account to be opened; Notarised copy of a valid ID for each account signatory. In case the company issued bearer shares the original share certificate has to be kept with the bank.
Now you can bank in complete confidentiality by having your own offshore private or corporate bank account with a bank in Cyprus. In Cyprus, tax advantageous offshore activities are flourishing and continually increasing. The attitude of the Government to tax advantageous shipping and offshore operations is a positive and encouraging one. There is, within the foreseeable future, no probability of a change of this policy. On the contrary, additional incentives are now and then introduced. Cyprus may be considered as the ideal tax haven jurisdiction for offshore activities worldwide.
We can open an offshore bank account for you - denominated in any currency you want - within 30-45 days at a cost of £400.00 in advance, with any prime bank (either domestic or any offshore banking unit) in Cyprus. As you perhaps already know, almost all major banks worldwide are being represented in Cyprus - by establishing and operating the so-called Offshore Banking Units (OBUs) - which are being supervised by the Central Bank of Cyprus.
Our firm is in a position due to its excellent relationships with almost any bank in Cyprus to introduce qualified individuals and corporations to setting-up bank accounts denominated in every major currency. These accounts may be private (for individuals) or corporate (for companies).
What do we need from you? Please submit the following: for the Offshore Bank A/C (either personal or corporate), £400.00. Fully legible passport copy of the applicant. Certified copies of the corporate documentation (for the Corporate Bank A/C). Bank Reference Letter for the Applicant (for a Personal Bank A/C) or for the true owners of the company. Upon receipt of funds we will immediately send you the necessary forms to fill in order to proceed immediately with the opening of the account.
Check Your Order Status
£ 250.00
In order for us to open a bank account for the company or partnership we will need the following items:
Drivers License and Passport, with photo also please list address of record.
