Can you open an offshore bank account without going to the bank?
An offshore bank account is a bank account opened with a bank that, in relation to its own country, will not so easily carry out any repression or alienation on the account, nor will it send information about the account’s operations to the account user’s home country.
Opening an offshore bank account – factors:
- Thanks to the development of technology, client verification can be done remotely
It is well known that technology is a turning point in the development of the economy of any country and that it is important for the overall picture, because it gives a clear insight into the competitiveness and strength of a country. It also contributes to the development of the community itself and the people who live in it. Technology in banking is increasingly important in banks today because today all transactions can be made via the Internet and ATMs while clients no longer have to wait in long lines at banks to pay a bill, withdraw money, send or receive money.
When it comes to verification of a new potential client, it can also be done completely remotely. The client would be obligated to send a scanned copy of his/hers passport for Due Diligence. Due diligence does not have a standard definition as its scope and main characteristics may vary from case to case. However, in general, it could be said that due diligence is the process of analyzing a business entity or company, before, during and after a business transaction, the purpose of which is to increase the transparency of the company by disclosing information relevant to the successful transaction. Also, due diligence is an in-depth recording of the legal and financial activities of a company. The significance of due diligence is that it should serve to review past events, but also to provide a final assessment for the future. Consequently, due diligence is partly in the process of a business transaction, and serves to find out all the information relevant to the execution of a transaction in order to successfully avoid unpleasant surprises during the business and with the whole process done online.
- Offshore banks compete to provide good service
Offshore banks work and provide different services, in different jurisdictions for different prices. But one of the main characteristics that an offshore bank can provide to a new potential client is the possibility to offer bank account opening without physically going to the bank. If you take into consideration that an offshore bank would probably be far away from you, it is a good benefit to have this kind of possibility in your sleeve. This means that a new potential client would be able to open an offshore bank completely remotely in a simple and easy way with the help of a support manager. The whole process does not last long, around 5 business days to one month depending on the bank. In order for the process to last the bare minimum that would be stated for a certain bank, the new potential client is obligated to provide us all required documents by the previously arranged deadline.
- Offshore bank account can also be opened by clients who are disabled, especially now during Covid-19
If we take into account the world situation, i.e. pandemic, it is logical that offshore banks, which previously did not allow the opening of remotely bank accounts, now allow it. Almost all offshore banks aim to attract as many clients as possible and facilitate the process itself, so as not to reduce the business and flow of new clients. During the pandemic, many people became concerned and wanted to protect their funds and property, both for personal and corporate purposes. For this reason, it is possible to open an offshore bank account completely remotely in a quick and easy way.
- Not only can you open an offshore bank account, but you can also manage it no matter where you are
Not only can you open an offshore bank account, but you can also manage it no matter where you are. Today, E-banking is becoming more common in everyday life. E-banking provides the ability to send and receive funds anywhere in the world, review the balance of your accounts (business accounts, time deposits in domestic and foreign currencies, credit accounts in domestic and foreign currency, guarantees and letters of credit) 24/7.
- It is very important to choose a bank that meets all your needs
This is something the Offshore Pro Group would do for you. Once you, as a client, would contact us, our job would be to find a bank that suits all your needs. Given that there are different types of offshore accounts, with prices that vary, our goal would be to find you the most ideal solution. We are here to resolve any doubts and unclear questions, advise and monitor you through the process of opening an offshore bank account.
Who would be a good fit to open an offshore bank account?
An offshore bank account can be opened by anyone, for personal or corporate purposes, or even a foundation. Offshore banking provides special privacy protection and offshore bank account information is not allowed to be sent to the home country of its owner. Also, it is not possible to find much information about the transactions of such an account. Also, someone who wants to protect their assets and property, and would like the possibility of tax relief. Each bank always revises each case before acceptance.
Offshore Pro Group has been in the financial consultancy business for years and we will gladly help you find the best financial solutions if you decide to seek our advice. Please write to us to email@example.com or use WhatsApp or our live chat to get in touch with us. Whatever communication means you choose, we will be able to suggest the solution that will fit your personal outlooks and your individual investment preferences best!